The EnBW green bonds: Investing in the future of energy
In line with our strategy of developing into a sustainable and innovative infrastructure partner, we are investing increasingly heavily in climate-friendly growth projects. For this reason, we plan to invest a total of around €12 billion between 2021 and 2025, 80% of which will be spent on growth projects (focusing on grid expansion, expansion of renewables and further development of our smart infrastructure for customers).
By 2035, we aim to be climate neutral. This goal is our transformation driver. We are continuously improving our sustainability performance. We issue green bonds to finance our environmental and climate change mitigation projects.
Allocation of EnBWs green bond proceeds
Key data on EnBW green bonds
|
Bond type
|
Rating (Moodys / S&P)
|
Issue size (€m)
|
Net issue proceeds (€m)
|
Issue date
|
Term (years)
|
Coupon (% p.a.)
|
Denomination (€)
|
ISIN
|
|---|---|---|---|---|---|---|---|---|
|
Bond type
Green Senior
|
Rating (Moodys / S&P)
A3 (negative) / A- (stable)
|
Issue size (€m)
500
|
Net issue proceeds (€m)
496.42
|
Issue date
31.10.2018
|
Term (years)
15
|
Coupon (% p.a.)
1.875
|
Denomination (€)
1,000
|
ISIN
XS1901055472
|
|
Bond type
Green Subordinated
|
Rating (Moodys / S&P)
Baa2 / BBB-
|
Issue size (€m)
500
|
Net issue proceeds (€m)
498.25
|
Issue date
05.08.2019
|
Term (years)
60
|
Coupon (% p.a.)
1.625
|
Denomination (€)
100,000
|
ISIN
XS2035564629
|
|
Bond type
Green Subordinated
|
Rating (Moodys / S&P)
Baa2 / BBB-
|
Issue size (€m)
500
|
Net issue proceeds (€m)
498.25
|
Issue date
05.08.2019
|
Term (years)
60.25
|
Coupon (% p.a.)
1.125
|
Denomination (€)
100,000
|
ISIN
XS2035564975
|
|
Bond type
Green Subordinated
|
Rating (Moodys / S&P)
Baa2 / BBB-
|
Issue size (€m)
500
|
Net issue proceeds (€m)
494.75
|
Issue date
22.06.2020
|
Term (years)
60
|
Coupon (% p.a.)
1.875
|
Denomination (€)
100,000
|
ISIN
XS2196328608
|
|
Bond type
Green Subordinated
|
Rating (Moodys / S&P)
Baa3 / BBB-
|
Issue size (€m)
500
|
Net issue proceeds (€m)
498.25
|
Issue date
24.08.2021
|
Term (years)
60
|
Coupon (% p.a.)
1.375
|
Denomination (€)
100,000
|
ISIN
XS2381272207
|
Sustainable projects with sustainable finance
We invest the proceeds from our green bonds in sustainable environmental and climate change mitigation projects. These include onshore wind power, offshore wind power and photovoltaics. We are also pressing ahead with the expansion of charging infrastructure for electric mobility.
Wind offshore
Wind onshore
Charging infrastructure for electric mobility
Solar (PV)
Acquisition of Valeco
Good independent assessments
For independent assessments, we have obtained both a Second Party Opinion from ISS ESG and CBI certification for all of our green bonds.
ISS ESG, a rating agency internationally specialising in sustainability, has confirmed that all EnBW green bonds issued to date comply with the Green Bond Principles on the basis of International Capital Market Association (ICMA) criteria. In addition, ISS ESG confirmed the good sustainability quality of the bonds and also our above-average sustainability performance as the issuer (ISS ESG Prime Status). Further information is available for downloading here.
Our green bonds also are certified to the high standards of the Climate Bonds Initiative (CBI). The Climate Bonds Initiative (CBI) is an international organisation that works to mobilise the bond market for climate change solutions. These feature detailed sector-specific criteria for qualification as green bonds.