Axpo successfully places green bond

Share

15.07.2020 – Axpo Holding AG successfully placed a green bond on the Swiss capital market via a digital capital market platform for the first time on 15 July 2020. The net proceeds of this CHF 133 million fixed-income note will be used to fund projects in the photovoltaic and wind energy sectors. This will help Axpo to strengthen its position as the largest Swiss producer of renewable energies and to expand its base of investors.

The huge interest shown by investors in the bond confirms that Axpo is on the right strategic path to profitable growth in renewable energies. Axpo has long been Switzerland’s largest producer of renewable energies thanks to its investments in hydroelectric power and biomass plants. Axpo has also carved out a leading position in Europe with its wind and solar parks and in the marketing of renewable energies. Axpo recently received an ESG rating of “C+" from ISS Oekom. This ranks Axpo among the leading companies surveyed in the utilities sector.

Joris Gröflin, CFO of Axpo, says: “Sustainability is a central pillar of our corporate strategy and is becoming an increasingly important selection criterion for investors. By issuing our first green bond, we want to strengthen our commitment in this area and create the basis for further green funding. By issuing via a digital capital market platform, we have chosen an innovative way.”

Axpo Holding AG’s green bond in the amount of CHF 133 million has a coupon of 1.002% and a term of 7 years. The bond is scheduled to be paid out in full on 23 July 2020.

The net proceeds of the green bond will be used for photovoltaic projects and wind projects. The structure of the green bond is set out in the Axpo Green Bond Framework, which is based on the Green Bond Principles of the International Capital Market Association (ICMA). 

More media releases

Show all

International business 23.06.2020

Axpo takes over flexibility commercialization of Nordic’s largest battery storage unit

Axpo Nordic continues to expand its business in the commercialization of flexibility by entering the market of battery storage systems: The subsidiary of Axpo has concluded an agreement with Neoen, a global leader in battery-based grid services, for the provision of ancillary services from a newly built lithium-ion battery storage unit in Yllikkälä (Finland). In this context, Axpo Nordic will be responsible for the marketing of the facility’s flexibility on the Finnish market, and manage the battery’s energy production and consumption when it comes to charging and discharging.

Read more

Company 08.06.2020

Strong operating performance – but earnings blunted by financial markets

The Axpo Group’s half-year financial results for 2019/20 (1 October 2019 to 31 March 2020) were influenced by two factors: a strong operating performance, which was up once again on the prior-year period, and the negative impact of volatility on the financial markets. The funds for the decommissioning and disposal of nuclear power plants (STENFO) had a particularly significant negative impact on results of CHF 389 million. Whereas earnings before interest and tax (EBIT) were still only slightly lower at CHF 329 million despite the Covid-19 crisis, the result for the period fell to CHF – 24 million.

Read more

Wind power 19.05.2020

Axpo and Green Investment Group extend PPA cooperation to Norway

Axpo Nordic reinforces its role as a leading marketer of renewable energy in the Nordics by concluding two more long-term route-to-market power purchase agreements (PPA) with UK-based Green Investment Group’s (GIG) wind farms Buheii and Tysvær in Norway. Currently under construction with commercial operation expected in the second half of 2021, the wind farms will provide energy to the Norwegian smelters of Eramet, a global mining and metallurgical group. Axpo Nordic is responsible for facilitating the corporate PPA between GIG and Eramet Norway through the balancing of the wind farms and managing the physical power delivery.

Read more