In June 2020 Ellevio issued its first green bond at a total value of 1,650 MSEK. The strong demand for the initial green bond led to Ellevio later increasing the value of the bond with 350 MSEK. The projects that were financed by these green bonds were the rollout of the next generation of smart electricity meters, and connections of more renewable electricity to the electricity network.
- Our first green bond was oversubscribed 2.5 times, which is very positive. The electricity networks play a crucial role for the society to meet the energy transition and climate goals, and this shows that there is a great interest among investors to be part of the journey ahead, said Jan Seveborg, Head of Treasury at Ellevio.
In 2019, Ellevio launched a framework for green bonds. The aim was to offer the capital market the chance to invest in projects that support the transition to an emissions-neutral and climate-smart energy system. Projects eligible for funding are those which contribute to the UN’s sustainable development goals. The framework has been reviewed by the independent Centre for International Climate and Environmental Research, CICERO, receiving the highest score of “Dark Green”.
The investor report includes a description of the projects that have qualified for green funding and allocated amounts. The report is available in Swedish and English on Ellevio’s website under financial reports and documents: https://www.ellevio.se/en/English/about-us/financial-information/financial-reports-documents/
For further information
Jesper Liveröd, Head of Media, +46 70 92 99 623, firstname.lastname@example.org
With almost one million customers, Ellevio AB (publ) is one of Sweden’s largest distribution network operators. Together with our customers we take an active role in the journey toward a fossil-free society. Our electricity grids are the backbone that connects electricity producers and consumers, enabling an increased share of renewable electricity, the electrification of transport and industry, as well as creating the prerequisites for new climate-smart services for our customers.
We have more than 500 co-workers and employ indirectly about 3,000 people around the country. Our head office is in Stockholm and we are owned by the pension trustees Folksam, The First Swedish National Pension Fund, The Third Swedish National Pension Fund, and OMERS Infrastructure. Read more at ellevio.se