Baseload Capital issues $50m green bond for low-temp geothermal development
Swedish Baseload Capital issued USD54 million green bond to finance low temperature geothermal power generation development globally.
Announced this week, Swedish Baseload Capital, partly owned Climeon, has issued its first green bond, raising SEK 500 million, or around USD 54 million to finance low temperature geothermal heat power projects globally.
The Swedish Krona (SEK) denominated senior secured green bond was issued under the company’s green bond framework. The bond is the first one in Sweden focused on low temperature geothermal heat power.
The response, interest in and support from investors for what we are doing has been extremely positive. It is clear that the investors who have chosen to participate in our bond want to play an active role in changing the energy landscape from brown to green, says Alexander Helling, CEO of Baseload Capital.
The proceeds from the bond will be used to invest in and develop low temperature Heat Power plants in specific markets. Heat Power plants generate renewable electricity from heat 24/7.
Each Heat Power plant will significantly reduce greenhouse gases and support the local community with a sustainable baseload power, says Pernilla Wihlborg, COO of Baseload Capital.
The bond offering, which immediately attracted considerable interest, has been placed with Nordic institutional investors.
DNB Markets acted as advisor and lead arranger of the green bond.
Source: Baseload Capital