Voltalia selling EUR 50m of green bonds to fund growth

French renewable power plants operator Voltalia SA (EPA:VLTSA) is looking to raise about EUR 50 million ( USD 51.2m) via an offering of green bonds in a bid to finance additional projects and acquisitions.

The accelerated bookbuild placement was launched on Tuesday and pricing terms were still not available. The green senior unsecured bonds will mature in 2025 and are convertible into new shares and/or exchangeable for existing shares of Voltalia. They will be sold both in France and overseas but excluding the US, Australia and Japan.

Voltalia will allocate the fresh capital to finance or refinance green projects eligible for funding through its green and sustainability-linked financing framework. These will cover investments in wind, solar, biomass, hydropower or battery storage schemes, as well as the acquisition of companies operating in the renewable energy field.

According to the plan, the French firm will apply to list the new bonds on Euronext Paris within 30 days from the date of their issue. The settlement is scheduled for July 29, 2022.

At the end of June, Voltalia had 1,226 MW of installed wind, solar, hydro and biomass energy capacity, plus 917 MW of projects under construction.

(EUR 1.0 = USD 1.024)

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