Swiss energy firm BKW AG (BKW) will invest CHF 200 million (US$202 million) exclusively into green energy projects in line with the Green Bond Principles of the International Capital Market Association (ICMA), the company announced Monday.
According to the announcement, BKW's green bond consists of various small hydroelectric power plants in Switzerland and wind power plants in Norway and France.
The settlement of the bond will take place on July 29, 2019, while BNP Paribas (Suisse) SA and UBS AG are responsible for the bond insurance.
'The bond will be listed on the SIX Swiss Exchange,' the company said and added that BKW is the first Swiss company listed to launch a green bond for trading on the Swiss exchange.
With this decision, the Swiss energy company is committing to sustainability by targeting that 75% of the company's installed production capacity will be renewable by 2023.
BKW covers energy supply, from production and transmission to trading and distribution. The company's production portfolio incorporates hydroelectric and nuclear power plants, gas-fired power plants and renewable energy facilities.
By Gulsen Cagatay
Anadolu Agency
energy@aa.com.tr