TagEnergy has announced the closing of a dual currency (Australian dollars and Euros) green bond totalling a maximum of â‚¬570 million with Copenhagen Infrastructure Partners (CIP) and GIC as investors.
CIP is investing through its Green Credit Fund I, while GIC is a global institutional investor, headquartered in Singapore.
The transaction will support the growth of TagEnergyâ€™s renewable energy portfolio of onshore wind, battery energy storage systems (BESS) and solar PV assets across the UK, Europe and Australia.
The first â‚¬270 million tranche adds to existing funding sources for the construction of the first stage of Golden Plains Wind Farm with the remaining up to â‚¬300 million follow on tranche dedicated to TagEnergyâ€™s other global renewable assets.
Akereos Capital acted as sole bookrunner, structurer and exclusive debt advisor to TagEnergy who was also advised by White & Case and Garrigues (legal). CIP and GIC were advised by Linklaters and Allens (legal).
TagEnergy CEO Franck Woitiez said: â€œThis green bond again demonstrates TagEnergyâ€™s innovative investment approach in a rapidly growing renewable energy industry. It comes on the back of TagEnergy achieving financial close on a range of projects including Australiaâ€™s Golden Plains Wind Farm East without the need for Power Purchase Agreements (PPAs).â€
Jakob Groot, partner at CIP said: â€œOur Green Credit Fund I provides an important and necessary funding component of the global energy transition and this investment represents an attractive opportunity for us to make a meaningful contribution to the green transition.â€