French Utility ENGIE Launches €1.5bn Green Bonds

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French utility ENGIE has launched a new green bonds issuance worth €1.5 billion (£1.3bn).

The proceeds will be used to exclusively finance green projects such as wind and solar power.

This takes the total amount of green bonds issued by ENGIE to €8.75 billion (£7.8bn) and claims to be the largest corporate issuer to date.

It has issued six tranches of green bonds since 2014. including €1 billion (£0.89bn) in January this year.

Judith Hartmann. ENGIE’s Executive Vice President and Chief Financial Officer said: “ENGIE has undertaken to reconcile the company’s long term vision with the financial objectives of investors. Green bonds. which help fund out clients’ zero carbon transition. are an essential lever for doing so.“