Eurogrid GmbH, the parent company of the transmission system operator 50Hertz, is securing liquidity for the further grid expansion necessary for the energy transition with the issuance of its debut Green Bond in the amount of EUR 750 million. This will finance the offshore grid connections Ostwind 1 and 2 northeast of Rügen with a capacity of around 1.5 GW.
The corporate bond, with a term of 12 years and an interest rate of 1.113 percent, was issued yesterday (6 May 2020) on the regulated market with the support of BNP Paribas, Rabobank and UniCredit Bank from the circle of Eurogrid core banks. The subscribers come from Germany and, almost without exception, from other European countries, with a focus on Great Britain, France, the Benelux countries and Scandinavia. Like all public bonds, these securities are listed on the Luxembourg Stock Exchange. The shareholders of Eurogrid GmbH are the Belgian Elia Group (80 %) and KfW Bankengruppe with 20 percent.
The Ostwind 1 project is already in operation and connects the Wikinger and Arkona wind farms via two offshore platforms with the Lubmin substation in the Bay of Greifswald. In the Ostwind 2 project, the nearby wind farms Arcadis Ost 1 and Baltic Eagle will be connected to the German extra-high voltage grid. 50Hertz plans to build two further offshore platforms jointly, with the wind farm operators and three 220 kV AC submarine cable systems.
Source: 4COffshore