The European Bank for Reconstruction and Development is reinforcing its position as a leader in green finance with an ambitious plan to broaden and deepen its climate activities and become a majority green bank by 2025. The European Bank for Reconstruction and Development is investing up to USD 100 million in a certified green bond issuance of USD 334.5 million, backed by six solar power plants owned by Scatec ASA. The Bank is also providing a USD 30 million Credit Enhancement Facility for participating institutional investors. Certified under the Climate Bonds Standard, this bond is the first private green project bond issuance in Egypt and the southern and eastern Mediterranean region.The issuance will have a catalytic effect on renewable energy investors seeking access to capital markets in a volatile post-pandemic macroeconomic environment, allowing them to source funding from the growing pool of international institutional investors.Scatec ASA, a Norway-based integrated independent solar power producer, develops, builds, owns and operates renewable power plants, with 3.5 GW in operation and under construction around the world.
The European Bank for Reconstruction and Development is reinforcing its position as a leader in green finance with an ambitious plan to broaden and deepen its climate activities and become a majority green bank by 2025. The European Bank for Reconstruction and Development is investing up to USD 100 million in a certified green bond issuance of USD 334.5 million, backed by six solar power plants owned by Scatec ASA. The Bank is also providing a USD 30 million Credit Enhancement Facility for participating institutional investors. Certified under the Climate Bonds Standard, this bond is the first private green project bond issuance in Egypt and the southern and eastern Mediterranean region.The issuance will have a catalytic effect on renewable energy investors seeking access to capital markets in a volatile post-pandemic macroeconomic environment, allowing them to source funding from the growing pool of international institutional investors.Scatec ASA, a Norway-based integrated independent solar power producer, develops, builds, owns and operates renewable power plants, with 3.5 GW in operation and under construction around the world.
