EDF is a reference issuer in the Green Bond market, with the equivalent of €4.5bn issued through 5 tranches and 3 currencies
EDF is a leading European renewables generator, with more than 32GW of installed capacity in hydropower, wind, solar PV and other renewables. As a core component of its Cap 2030 strategy, the Group has set itself the goal in 2015 of doubling its net installed renewables capacity to more than 50GW in 2030.
EDF is a reference issuer in the Green Bond market: since November 2013, it has issued the equivalent of around €4.5bn in Green Bonds to support its development in renewable energy sources.
Following the first two issuances that aimed to finance the construction of new wind and solar projects by EDF Renewables, extended in 2016 to the financing of investments to renovate and modernise hydropower assets in mainland France, the EDF Group has updated his Green Bond Framework in January 2020 in order to contribute to best market practices and cover a broader range of its activities.
Green Bonds are fully integrated to the Group’s financing policy. EDF is an active member of the governance of the Green Bond Principles, and co-founder of the Corporate Forum on Sustainable Finance.
2020: new EDF Green Bond Framework
Based upon best market practices, in line with the Green Bond Principles (“GBPs”) published by the ICMA (International Capital Markets Association) and the Green Bond Standards of the European Union proposed by the Technical Expert Group (TEG) on sustainable finance, this new Green Bond Framework, applicable to potential future issuances, aims to extend the existing scope of green-bond eligible investments to:
renewable energy generation projects such as biomass and geothermal ;
international hydropower ;
energy efficiency ;
A three-year look-back period has been added to include, as a one-off, recent investments now eligible under the new Green Bond Framework.
You can find below detailed information on the new EDF Green Bond Framework.
At 31 December 2018 the following Eligible Projects had been chosen by EDF Renewables for financing under the first three Green Bonds issued in November 2013 (GB1), October 2015 (GB2) and October 2016 (GB3):
As part of managing its portfolio of renewable energy assets, the Group may sell stakes in the assets it develops. At 31 December 2018 the Group held 65%, 46% and 98% of generation capacity financed under Green Bonds no. 1, 2 and 3 respectively.