The European Bank for Reconstruction and Development is investing in a EUR 43.7 million Green Bond (Euro PP) issued by Qair International, a fast-growing developer of renewable energy projects in several EBRD countries of operations. The proceeds of the issue will support the company’s corporate financing needs, in particular supplementing the funding requirements of the renewable energy projects being developed and built through its regional subsidiaries. Qair’s strong pipeline of 1GW of projects in regions where the EBRD works includes 547MW in Poland, 250MW in Greece and 107MW in Romania.Qair has pledged to invest at least twice the EBRD’s proceeds, into greenfield solar and wind projects in EBRD countries of operation in the next 36 months.The investment has several innovative features. Not only does it include an Equal Opportunity Action Plan, supporting women’s access to economic opportunities across all its operations, but it is one of the EBRD’s first bond investments into a renewable developer at the holding company level, supplementing traditional project financing at the asset level. There is growing demand for this type of instrument from regional and local renewables developers, especially those working on smaller projects which require more bridge capital before they can reach target leverage.Qair, a company registered in France with a focus on Europe, has a three-decade history and an established track record in developing, financing and commissioning both solar and wind farms.
The European Bank for Reconstruction and Development is investing in a EUR 43.7 million Green Bond (Euro PP) issued by Qair International, a fast-growing developer of renewable energy projects in several EBRD countries of operations. The proceeds of the issue will support the company’s corporate financing needs, in particular supplementing the funding requirements of the renewable energy projects being developed and built through its regional subsidiaries. Qair’s strong pipeline of 1GW of projects in regions where the EBRD works includes 547MW in Poland, 250MW in Greece and 107MW in Romania.Qair has pledged to invest at least twice the EBRD’s proceeds, into greenfield solar and wind projects in EBRD countries of operation in the next 36 months.The investment has several innovative features. Not only does it include an Equal Opportunity Action Plan, supporting women’s access to economic opportunities across all its operations, but it is one of the EBRD’s first bond investments into a renewable developer at the holding company level, supplementing traditional project financing at the asset level. There is growing demand for this type of instrument from regional and local renewables developers, especially those working on smaller projects which require more bridge capital before they can reach target leverage.Qair, a company registered in France with a focus on Europe, has a three-decade history and an established track record in developing, financing and commissioning both solar and wind farms.
