Scottish energy company SSE has issued its second green bond, worth $759mn (€650mn). The bond will be used to help raise funds to develop more renewable energy projects.
This follows the success of the company’s inaugural green bond in 2017. The current bond will last nine years, maturing in September 2025.
It is hoped that the issuance will help SSE take on a leading role in supporting a low carbon future, as the firm aims to solidify its position as a leader in the renewable energy space.
Gregor Alexander, Finance Director of the Perthshire-based business, stated: “In line with our innovative approach to financing investment and as a major investor in the UK and Ireland’s renewable energy infrastructure, we are pleased that this second green bond continues to show SSE’s focus on sustainability and responsibility principles.
“This funding is consistent with our commitment to maintain a strong balance sheet and strong market rating, and has been secured at very attractive pricing.”
SSE’s previous green bond in 2017 reached $701mn (€600mn) issuance and was the largest ever green bond issued by a UK company.