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German multinational energy player E.ON has raised €1.5 billion in Green Bonds.

The utility has issued two tranches of €750 million of green bonds each.

The green bonds will finance sustainable infrastructure and energy efficiency projects.

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The two tranches will mature in August 2024 and February 2030.

The development is in line with the company’s efforts to provide consumers with clean, sustainable, affordable and secure energy.

The increase in the number of green bonds issued by E.ON is a result of the company’s Green Bond Framework which has been developed in line with the ICMA Green Bond Principles.

The framework focuses on sustainable projects in both the Energy Networks and Customer Solutions businesses.

The Energy Networks business line includes funding of renewable energy projects which are connected with main grids or projects that make main grids smarter to enable the energy transition.

The Customer Solutions segment includes investments into sustainable city energy solutions, smart meters and charging stations for electric cars.

E.ON CFO Marc Spieker, said: “Sustainability runs like a red thread through the business of the new E.ON, our investments and finances. Already today, an important part of our investments leads to greater energy efficiency and climate protection. We will significantly increase this share over the coming years. Green Bonds help us financing these investments. With our Green Bonds, international investors can now participate in financing our projects that make peoples’ lives more sustainable. The low coupons of both bonds reduce E.ON‘s average financing costs and thus support our business development.”