We’ve announced the launch of our first ever green bond. Raising Euro500million (approximately £430million), the bond’s proceeds will finance UK electricity transmission projects with environmental benefits.
Today we’ve taken another significant step in leading the charge towards net zero, by announcing the launch of our first green bond from our Green Financing Framework, issued from National Grid Electricity Transmission plc.
Raising €500million, the bond’s proceeds will finance electricity transmission projects with an environmental benefit; following the guidelines set by the International Capital Markets Association Green Bond Principles.
There are a number of ways the funds raised can be used to boost renewable energy, from funding onshore solar and windfarms, to bioenergy projects.
For energy efficiency or cleaner transportation, the bond’s proceeds could go towards investing in projects that would reduce electricity grid losses or financing clean transport infrastructure, such as the electrification of railways.
Other potential areas cover environmentally sustainable management, such as substituting overhead lines for underground cables and pollution prevention and control. Projects will be evaluated and chosen by our dedicated Green Financing Committee.
After announcing our intention to launch the bond on 6 January, we held three days of meetings with the investment community in Europe’s key financial centres. The bond received a high level of interest and priced today, Monday 13 January, allowing institutional investors to participate in our commitment to Net Zero while supporting our efforts with the clean energy transition.