{"id":85989,"date":"2024-08-12T00:00:00","date_gmt":"2024-08-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/08\/12\/iberdrola-issues-usd-525-mn-green-bonds-in-the-us\/"},"modified":"2024-08-12T00:00:00","modified_gmt":"2024-08-12T00:00:00","slug":"iberdrola-issues-usd-525-mn-green-bonds-in-the-us","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/08\/12\/iberdrola-issues-usd-525-mn-green-bonds-in-the-us\/","title":{"rendered":"Iberdrola issues USD 525 mn green bonds in the US"},"content":{"rendered":"

Iberdrola's US subsidiary <\/strong>New York State Electric<\/a><\/strong>and Gas Company<\/a><\/strong> (NYSEG) has successfully issued a USD 525 mn 10-year green bond<\/strong>, according to a statement<\/a> published last week. The issuance attracted over EUR 2 bn in demand from more than 60 American accounts, allowing the company to reduce the spread over the benchmark interest rate to 135 basis points, reaching a price of 5.332%. The company will use the funds to expand further in the US.<\/p>\n

Iberdrola is already active in the US: <\/strong>Iberdrola placed a <\/span>USD 2.5 bn bid<\/a> on Thursday to acquire the remaining 18.4% stake in its American sustainable energy subsidiary Avangrid for USD 2.49 bn in March.<\/span><\/p>\n

REMEMBER- Iberdrola + Masdar have big plans: <\/strong>Masdar signed a strategic partnership agreement with Spain\u2019s Iberdrola to co-invest up to EUR 15 bn<\/a> in exploring development projects in the offshore wind and green hydrogen in key markets including Germany, the UK, and the US during COP28.<\/p>\n

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Indonesia eases local content rules to attract foreign investment in renewables:<\/strong> In efforts to unlock concessional loans from international development banks for renewables projects, Indonesia has relaxed its rules requiring foreign-funded projects to use locally-made components, Reuters<\/a> reported on Wednesday, citing comments made by Deputy Minister of Maritime Affairs and Investment Rachmat Kaimuddin. The new regulation exempts projects receiving at least 50% foreign funding from these rules, aiming to boost renewable energy investments under the Just Energy Transition Partnership<\/a>. Solar power projects can use imported panels if they meet specific conditions, such as obtaining ministerial approval committing to local production investment, signing a power purchase agreement before the end of 2024, or beginning operations by the first half of 2026. <\/p>\n

UAE ?Indonesian renewables: <\/strong>UAE state-owned renewables giant Masdar inked two strategic agreements and received an approval to establish renewable energy projects<\/a> in Indonesia back in May. The UAE also broke ground<\/a> on the Mohamed bin Zayed-Joko Widodo International Mangrove Research Centre in Bali in May and has committed to investing USD 10 mn into the project. <\/p>\n

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n