Scottish power company sets UK record with new £600m green-energy bond

A Perth-based utility company has issued a £600 million green bond (interest-bearing loan) which is believed to be the biggest of its sort in the UK by a British energy supplier.

The eight year, 0.875% green bond provides capital that SSE will use to refinance its portfolio of recently-constructed or under-construction onshore wind farms.

Gregor Alexander, Finance Director, SSE, said: “In line with our innovative approach to financing investment and as major investor in the UK and Ireland’s renewable energy infrastructure, this new bond shows our commitment to  sustainability and responsibility principles.

“At the same time we are maintaining a strong balance sheet and strong market rating, allowing this funding to be secured at very attractive pricing.

“This green bond sends out a clear and unequivocal message – we support the transition to a low carbon energy system and wants to see a sustainable economy in the UK and Ireland in the long term.”

31 Aug 2017

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