EDF is a reference issuer in the Green Bond market, with the equivalent of €6.9bn issued through 6 tranches and 3 currencies
EDF is a leading European renewables generator, with more than 33GW 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 of doubling its net installed renewables capacity to more than 60GW in 2030.
EDF is a reference issuer in the Green Bond market: since November 2013, it has issued the equivalent of around €6.9bn 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;
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 2020, 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) October 2016 (GB3), January 2017 (GB4) and September 2020 (GB5):
The Eligible Projects selected by EDF Hydro (excluding biodiversity projects which are detailed below) for financing as at 31 December 2020 as part of the Green Bond issue in October 2016, January 2017 and September 2020 can be broken down as follows:
The table below presents the main monitoring indicators associated with biodiversity projects that have received financing through Green Bond financing. All of these projects were supported by EDF Hydro.
(1) 19 projects are included in both the look back and 2020 impact reporting.
(2) A project at the Esterre dam has elements of compliance with reserved flows and ecological continuity; it is therefore counted for the calculation of the indicators for these two types of projects.