BKW issues another green bond to finance its growth in renewable energy in Switzerland, Italy and Sweden

Successful issuance of a green bond of CHF 200 million

On 17 September 2024, BKW successfully issued a green bond with a value of CHF 200 million on the Swiss capital market. The bond has a coupon of 1.50% per annum and a maturity of 10 years. BKW will use the proceeds of the green bond to partially refinance its investments in the Augand hydropower plant in Switzerland (installed capacity of 7.4 megawatts), investments in two wind farms in Italy (planned capacity of about 130 megawatts) and the purchase of three wind farms in Sweden (installed capacity of 125 megawatts).

Bern, 18 September 2024

Download

Press release (PDF, 383 kB)

This third green bond brings BKW’s green bond portfolio to CHF 500 million. The asset pool includes hydro, wind and solar projects in Switzerland, as well as in Italy, France, Norway and Sweden.

By issuing the green bond, BKW is capitalising on the favourable financing conditions in the capital market following the most recent interest rate cuts.

The maturity of the green bond fits perfectly into the existing maturity profile. It also means BKW retains the financial flexibility it needs for the further expansion of renewable energy. The company has almost reached its installed capacity target for new renewable energy of 1,000 megawatts. BKW will announce its new target and its further plans for the coming years at the Capital Markets Day on 8 November 2024.

The bond will be settled on 18 October 2024. The issuance was led by BNP Paribas (Suisse) SA, UBS AG and Zürcher Kantonalbank. The bond will be listed on the SIX Swiss Exchange.