Dutch transmission grid operator (TSO) TenneT has placed green bonds in a triple-tranche placement worth EUR1.8 billion (US$2.19 billion), which aims to finance interconnection projects in the Netherlands and Germany.
The euro-bond sale consists of two EUR650 million bonds (US$790.74 million) maturing in 6.5 years and 20 years and bearing a coupon of 0.125% and 1.125%, respectively, and a EUR500 million bond (US$608.26 million) with a 10-year term and a coupon of 0.500%.
TenneT will use the funds for the investment in green energy projects to connect large-scale offshore wind farms to the mainland energy grid and to expand the onshore transmission capacity. The company has recently commissioned the 1.4 GW NordLink Subsea Interconnector project, that connects Norway and Germany via bipolar high voltage direct current (HVDC) subsea cable.
