Photon Energy to issue EUR-50m green bond to finance solar projects

Amsterdam-based solar power services and clean water solutions provider Photon Energy NV (WSE:PEN) has decided to issue a green bond, its first ever, worth up to EUR 50 million (USD 58m).

The bonds will bear an interest rate of 6.50% per year, with a term of six years.

“The net proceeds from the issuance will enable us to accelerate the development and construction of photovoltaic power plants; principally those in Hungary, Romania and Poland, our core Central European growth markets,” stated CFO Clemens Wohlmuth.

Photon Energy is currently developing projects with a combined capacity exceeding 590 MWp in Australia, Hungary, Poland and Romania.

Once the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg approves the prospectus, the public offer will start on November 2, 2021, and will run through November 16, 2021. Bankhaus Scheich Wertpapierspezialist AG, Frankfurt am Main will serve as Sole Global Coordinator for the private placement of the corporate green bond.

(EUR 1.0 = USD 1.160)

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