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Green Bond

Germany-based power producer RWE has successfully completed its first U.S. green bond issuance, raising $2 billion to finance renewable energy projects. The issuance was divided into two tranches: $1 billion for a 10-year term and $1 billion for a 30-year term, marking RWE’s inaugural green bond offering outside of Europe. According to RWE’s Green Financing Framework, the proceeds are earmarked for investments in renewable energy generation and storage, as well as hydrogen production and storage. These funds are a part of RWE’s ambitious ‘Growing Green’ investment program, which includes a global expenditure plan of €55 billion by 2030 targeted at renewable energy, batteries, flexible generation, and hydrogen projects. Specifically, RWE plans to invest approximately €20 billion in the U.S. and aims to expand its green energy portfolio to over 65 gigawatts by the decade’s end. The bond issuance attracted considerable interest, with an order book that was 3.8 times oversubscribed at $7.6 billion. RWE’s CFO, Michael Müller, emphasized the company’s strategy to become a regular bond issuer in both Euro and U.S. markets, noting the significant expansion of RWE’s capacity in the U.S., where it has grown to 9 gigawatts since 2020, and its intention to further strengthen its presence in the U.S. renewable energy sector, particularly in onshore and offshore wind, solar, and battery storage.

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