Vena Energy, an Asia Pacific renewable-energy company, has signed an agreement with CDPQ for a JPY 9.3 billion ($64 million) green project bond.
The transaction marks Vena Energy's inaugural foray into the international project bond market and CDPQ's first financing of a renewable-energy project in Japan.
The proceeds of the green bond will be used to finance one of Vena Energy's operational solar projects in Japan, located in the Fukushima Prefecture. The 35-megawatt solar energy project can supply more than 7,000 Japanese households with renewable energy per year and reduce up to 22,283 tonnes of greenhouse gas emissions annually.
“As the demand for clean energy is rising globally, this financing is well aligned with our strategy to support high-quality and essential infrastructure assets that contribute to the energy transition,” said Marc Cormier, executive vice president and head of fixed income at CDPQ. “We are pleased to partner with Vena Energy, a
