{"id":546122,"date":"2022-04-28T03:57:25","date_gmt":"2022-04-28T03:57:25","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/28\/scatec-to-issue-green-bonds-worth-usd-335-mn\/"},"modified":"2022-04-28T03:57:25","modified_gmt":"2022-04-28T03:57:25","slug":"scatec-to-issue-green-bonds-worth-usd-335-mn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/28\/scatec-to-issue-green-bonds-worth-usd-335-mn\/","title":{"rendered":"Scatec to issue green bonds worth USD 335 mn"},"content":{"rendered":"

<\/a> Norway\u2019s Scatec will issue USD 335 mn worth of green bonds to refinance its six <\/strong>solar plants in Benban<\/strong>, according to two separate cabinet statements (here<\/a> and here<\/a>). An agreement was signed to allow Scatec to go ahead with the plan during a meeting between Prime Minister Mostafa Madbouly, Scatec CEO Terje Pilskog, and other government and banking officials. Reuters also had the story<\/a>.<\/p>\n

EBRD is snapping up a chunk of the issuance: <\/strong>The European Bank for Reconstruction and Development (EBRD) previously announced<\/a> that it will subscribe to almost a third of Scatec\u2019s green bond issuance. The lender take up about USD 100 mn worth of the issuance, in addition to providing a USD 30 mn standby liquidity facility for other investors participating in the sale.<\/p>\n

Who else has appetite? <\/strong>The 19-year issuance is fully subscribed by institutional investors, most of them development finance organizations, according to the cabinet statement. Development finance institutions subscribing to the offering include the US International Development Finance Corporation (DFC<\/strong>), the Dutch Entrepreneurial Development Bank (FMO<\/strong>), the German Investment Corporation (DEG<\/strong>), and a number of global private investors.<\/p>\n

This is the first renewable energy, corporate green bond issuance in Egypt.<\/strong> CIB issued the country\u2019s first private sector green bond last year with a USD 100 mn issuance<\/a> supported by the International Finance Corporation, the proceeds of which were earmarked to finance green buildings<\/a>.<\/p>\n

The project: <\/strong>Scatec is the majority owner of six solar plants<\/a> in Benban, producing a combined 380 MW of electricity. The plants are 51% owned by the Norwegian renewables producer, 25% by African infrastructure investment bank Africa 50, and 24% by Norwegian development finance institution Norfund. Scatec has a 25-year power purchase agreement with the Egyptian Electricity Transmission Company for the projects, which had been partially financed<\/a> by EBRD loans. The project\u2019s other lenders included FMO, the Islamic Development Bank, Islamic Corporation for the Development of the Private Sector, and the Green Climate Fund. Scatec\u2019s Benban plants were completed and connected to the national grid back in 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"

Norway\u2019s Scatec will issue USD 335 mn worth of green bonds to refinance its six solar plants in Benban, according to two separate cabinet statements (here and here). An agreement was signed to allow Scatec to go ahead with the plan during a meeting between Prime Minister Mostafa Madbouly, Scatec CEO Terje Pilskog, and other […]<\/p>\n","protected":false},"author":1,"featured_media":546123,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7274],"tags":[88,1780,571,72,1782,224,573,1781],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-546122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-dutch-entrepreneurial-development-bank","tag-ebrd","tag-enterpriseam","tag-german-investments-corporation","tag-green-bonds","tag-scatec","tag-us-international-development-finance-corporation","wpautop","entry"],"acf":{"mongo_id":"85bc2129-c1ea-420b-9798-771ff78d5b5f","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/4\/393.jpg","photo_position":"above","related_issue":[546112],"teaser":"","voice_url":""},"yoast_head":"\nScatec to issue green bonds worth USD 335 mn - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/04\/28\/scatec-to-issue-green-bonds-worth-usd-335-mn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Scatec to issue green bonds worth USD 335 mn\" \/>\n<meta property=\"og:description\" content=\"Norway\u2019s Scatec will issue USD 335 mn worth of green bonds to refinance its six solar plants in Benban, according to two separate cabinet statements (here and here). 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The lender will contribute USD\u2026","rel":"","context":"In "Green economy"","block_context":{"text":"Green economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/green-economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/323.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546160,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/05\/ebrd-buys-into-scatecs-green-bond-issuance\/","url_meta":{"origin":546122,"position":1},"title":"EBRD buys into Scatec\u2019s green bond issuance","author":"enterpriseam admin","date":"5 May 2022","format":false,"excerpt":"The European Bank for Reconstruction and Development (EBRD) has confirmed that it is snapping up to USD 100 mn worth of Scatec\u2019s USD 334.5 mn green bond issuance to refinance its six solar plants in Benban. The EBRD is also providing a USD 30 mn credit enhancement facility for participating\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/82.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":648930,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/18\/scatec-solar-ifc-ebrd-to-invest-usd-3-bn-in-fit-program\/","url_meta":{"origin":546122,"position":2},"title":"Scatec Solar, IFC, EBRD to invest USD 3 bn in FiT program","author":"enterpriseam admin","date":"18 April 2017","format":false,"excerpt":"Feed-in tariff program to receive USD 3 bn in investment? Norway\u2019s Scatec Solar, the International Finance Corporation, and the European Bank for Reconstruction and Development are planning to invest a total of USD 3 bn under the feed-in tariff program, Scatec\u2019s regional director Morten Langsholdt said on Saturday, without providing\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":553565,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/08\/sfe-could-issue-green-bonds-soon-soliman\/","url_meta":{"origin":546122,"position":3},"title":"SFE could issue green bonds soon -Soliman","author":"enterpriseam admin","date":"8 December 2021","format":false,"excerpt":"The Sovereign Fund of Egypt (SFE) is considering issuing green bonds, fund CEO Ayman Soliman told Al Mal. Speaking during a conference in Cairo yesterday, Soliman provided little information about the fund\u2019s plans but said that it could sell the climate-linked securities in collaboration with unidentified \u201cpartners.\u201dThis would be SFE\u2019s\u2026","rel":"","context":"In "Green economy"","block_context":{"text":"Green economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/green-economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/256.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":700983,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/11\/nbe-buys-20-of-scatecs-usd-600-mn-obelisk-solar-project\/","url_meta":{"origin":546122,"position":4},"title":"NBE buys 20% of Scatec's USD 600 mn Obelisk solar project","author":"enterpriseam admin","date":"11 May 2026","format":false,"excerpt":"NBE\u2019s entry brings Scatec\u2019s economic interest down to 40%, though the Norwegian developer retains majority control","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/12\/515.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":543773,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/17\/metito-scatec-oc-eye-usd-1-5-bn-desalination-facility\/","url_meta":{"origin":546122,"position":5},"title":"Metito, Scatec, OC eye USD 1.5 bn desalination facility","author":"enterpriseam admin","date":"17 February 2022","format":false,"excerpt":"USD 1.5 bn solar-powered desalination plant in the works? A consortium made up of UAE-based Metito Holdings, Scatec Solar, and Orascom Construction (OC) is in talks with Egyptian authorities to build a USD 1.5 bn water desalination plant that would be powered entirely using renewables, Metito Africa Managing Director Karim\u2026","rel":"","context":"In "INFRASTRUCTURE WATCH"","block_context":{"text":"INFRASTRUCTURE WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/infrastructure-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/239.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546122","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=546122"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/546122\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/546112"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/546123"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=546122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=546122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=546122"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=546122"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=546122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}