According to the bank website, the project consists of an investment of EUR 7.5m in the green senior unsecured fixed coupon corporate bond (the Green Bond) issued by Photon Energy NV.
This is a follow-on operation of the Bank's investment of EUR 10m in the Company's inaugural EUR 55m green bond (maturing on November 2027) which took place at the end of 2021 (Opid 52971). The Company is to issue additional EUR 15m green bond with the same terms in two tranches; the first EUR 10m in May 2022 and the second EUR 5.0m to be made in 3Q 2022. The Bank's investment will be up to 50% of each tranche.
The Company has a pipeline of 340+ MW solar projects in the CEE region (including 27 MW in Hungary, 194 MW in Poland and 225 MW in Romania) and Australia. The Bank's proceeds will be used to finance the development of solar projects in the Central and Eastern Europe region, with the Hungarian and Romanian pipeline being currently the most advanced.
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