Photo: Master1305 from Freepik
Akuo sold green bonds worth EUR 194 million to old partners and new institutional investors to finance green energy production or energy storage facilities.
France-based Akuo, an independent developer and producer of renewable energy, carried out its eleventh green bond financing round since 2013. The Euro PP Green Bond Financing is worth EUR 194 million.
The issue, the largest so far, was carried out with partners that already bought green bonds from Akuo earlier, but also attracted new institutional investors, according to the announcement.
“This illustrates the continued interest of market players in financing the green economy, and thus contributes to accelerating the energy transition, which has become a priority. Through this transaction, investors have shown their confidence in the directions taken by the group in recent months and validate the consistency and credibility of the corporate strategy,” the company added.
Akuo issued green bonds without prospectus
The senior unsecured bonds were placed in the European Union exclusively with qualified investors as part of a public offer exempt from the obligation to publish a prospectus, all as defined and in accordance with regulation 2017/1129. The securities are listed on the Euronext Access market, managed by Euronext in Paris (ISIN code: FR001400U538).
The proceeds are intended to finance green energy production or storage plants in accordance with the Group’s development strategy. Akuo applies the principles of the ICMA (International Capital Market Association) for its various green bonds in circulation. The issue was advised by Octo Finances (arranger) and CMS Francis Lefebvre Avocats (legal advisor).
Company is active in 20 countries including Balkans
Akuo is present in more than 20 countries including the region that Balkan Green Energy News tracks. The company recently sold a biomass-fired heat and power (CHP) system in Croatia to Ancala. It should also be noted that Akuo is developing a major agrisolar project portfolio in Greece.
North Macedonia’s Prime Minister Hristijan Mickoski said last month that the bills that the previous government sent to parliament to set up strategic partnerships for energy projects including with Akuo aren’t acceptable in the proposed form.
Discussions are underway for redefining the model under which the 400 MW solar power investment will be materialized.
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