Vena Energy, CDPQ partner to develop first green project bond in Japan
It will finance a 35MW solar project.
Vena Energy has partnered with investment group CDPQ to issue the first green project bond that will fund a 35-megawatt solar project in Japan.
The transaction, worth JPY9.3b ($63.8m), is in line with Vena Energy’s Green Financing Framework.
This innovative green project bond marks an expansion of Vena Energy’s debt capital market activities from corporate to project level, further diversifying our financing sources and increasing our flexibility to fund future growth,” Simone Grasso, Chief Investment Officer of Vena Energy, said.
The project, located in the Fukushima Prefecture, is expected to supply 7,000 households with renewable energy annually.
It has the potential to reduce up to 22,283 tonnes of greenhouse gas emissions per year, as well as save some 35 million litres of water.