Energiekontor AG (“Energiekontor”), one of the leading German project developers and operators of wind and solar parks, based in Bremen and listed in the General Standard, is issuing a new, sustainable corporate bond with a target volume of 20 million euros, which can be subscribed by institutional and private investors until the end of January 2025. So far, 75 percent of the bond has been placed.
The corporate bond has a total volume of 20 million euros. It has an annual interest rate of 5.25 percent with a term of seven years. In the current market environment, in which the share of renewable energies in electricity consumption is growing every year and now accounts for more than 50 percent of the electricity consumed in Germany, Energiekontor has been able to realise attractive conditions. ECOreporter, the magazine for sustainable investments, also awarded the bond the established ECOreporter seal. The seal’s criteria are available at https://www.ecoreporter.de/ecoreporter-siegel/ (in German only).
The issue is aimed at institutional investors, asset managers, and private investors. The minimum subscription amount is 3,000 euros. The subscription period for the bond is expected to end on 31 January 2025 (subject to early closure). A stock exchange listing is not planned. At the time of publication of this press release, 75 percent of the total volume has already been placed.
The issue serves to diversify the financing structure. Energiekontor intends to use the bond issue to provide interim financing for new wind and solar energy projects in Germany and the national markets in the United Kingdom, France, Portugal, and the United States. The project pipeline (including US project rights), which was recently expanded to 12.0 gigawatts, includes a large number of projects, one third of which are in the solar sector and two thirds in the onshore wind sector. Building permits have already been granted for more than one gigawatt, and around 370 megawatts are currently under construction or have reached financial close.
In addition to the project planning and construction of new wind and solar parks, Energiekontor’s own portfolio of parks ensures the company’s financial stability. Energiekontor currently operates 39 wind and solar parks with a total nominal output of almost 400 megawatts in its own portfolio, which generate continuous income from the sale of electricity. An additional 220 megawatts, which are also earmarked for the proprietary portfolio, are currently under construction and will increase the total generation capacity of the Group owned portfolio to more than 610 megawatts in future.
