Ørsted Green Bonds Fly Off the Shelf

Ørsted has sold its first green bonds for EUR 1.25 billion (almost DKK 10 billion), which will, among other purposes, be used for new and existing offshore wind projects.

According to Ørsted, investor demand was high since the company sold the green bonds in only 10 hours after launching them on 16 November.

Besides offshore wind projects, the money will be invested in the conversion of CHP plants from coal to sustainable biomass, energy saving projects and energy storage.

The company sees the issuing of the bonds as yet another step forward in its transition to green energy.

Henrik Brünniche Lund, Head of Investor Relations, said: “At Ørsted, we want to create a world that runs entirely on green energy. We need to transform the way we power the world; from black to green energy. This is also reflected in our investments. For 2017 we expect them to amount to DKK 18-20bn in wind power, biomass conversions and the installation of remote-read power meters. With green bonds, we invite investors to join us in the green transformation.”

The Center for International Climate and Environmental Research (CICERO), a not-for-profit research institute, reviewed Ørsted’s Green Bond Framework, and, as the company said, allocated it a Dark Green Shading, which is the highest grading a green bond issuer can receive.