Iberdrola is seeking to raise €750 million ($869 million) through a new green hybrid bond, to help finance the firm’s renewable development with projects in Australia and Poland, with a combined installed capacity of 757 megawatts.
Despite market volatility, Iberdrola said demand indicates that investors are very interested in fixed income. With this transaction, for which initial demand exceeded €10 billion ($12 billion), the company’s live green financing volume now stands at more than €15 billion ($17 billion).
The move is part of Iberdrola’s €75 billion ($87 billion) investment plan for the 2020–2025 period. The majority of this amount will go to growth in renewables in order to double capacity to 60 gigawatts by 2025, as well as new smart grids and more storage capacity. Around 80 percent of the plan will represent sustainable investments.
