May 23, 2018 / 8:32 AM / a month ago

Dutch grid operator TenneT issues 1.25 bln euros of green bonds

LONDON, May 23 (Reuters) - Dutch state-owned grid operator TenneT IPO-TTH.AS has issued has issued green bonds worth 1.25 billion euros ($1.5 billion)for investments in renewable energy transmission, it said on Wednesday.

Green bonds are a fixed-income security designed to raise capital for low-carbon or clean energy investments.

TenneT, which is the largest corporate green bond issuer in the Netherlands, said this round of bonds has been split into two tranches of 500 million euros and 750 million euros.

The company said it has added two Dutch offshore wind projects to its green bond portfolio for the first time, which so far includes nine offshore projects in Germany.

These two additional projects - the Borssele Alpha and the Borssele Beta platforms - will link up the wind farms to be built offshore at Borssele in the south-west of the Netherlands.

TenneT said its investments in offshore and onshore grid connections across the Netherlands and Germany are expected to total 28 billion euros over the next 10 years.

By 2019, the company aims to have more than 7 gigawatts (GW) of connection capacity for offshore wind farms in the German sector of the North Sea. By 2023, it expects to have 3.5 GW of connection capacity in the Dutch sector of the North Sea. ($1 = 0.8544 euros) (Reporting by Nina Chestney, editing by Louise Heavens)

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