RWE issues $2bn green bond for US expansion


April 15, 2024

German utility RWE has issued a $2bn green bond in two equal tranches to support its growth in the US market.

This is the companies first green bond placement outside Europe: the $1bn first tranche is due to mature in 10 years and the $1bn second tranche is due to mature in 30 years. RWE added that the issue was almost four times oversubscribed with interest of $7.6bn.

Michael Müller, chief financial officer at RWE, said the company planned to be a regular issuer of green bonds in the Euro and US markets.

He said: “The US stands as our largest market outside of Europe where we have more than doubled our net installed capacity since 2020 to 9GW today. As one of the leading renewable energy companies in the US, we want to further expand our market position in onshore and offshore wind as well as in solar and batteries with investments of about €20bn by the end of this decade.”

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