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					</table><p>France-based energy firm <a href="https://www.engie.com/en" target="_blank" rel="noopener">ENGIE</a> said it has raised €2.75 billion (~$2.9 billion) after the successful closing of its triple-tranche green bond issue.</p>
<p>The transaction delivered an average coupon rate and duration of 3.93% and 12.4 years respectively. The company said that the issuance covers a substantial part of ENGIE’s financing needs for 2023.</p>
<p>The bonds were priced in line with the secondary market levels, with no new issue premium, while retaining a strong level of oversubscription at the closing. This was supported by the total demand peaking well above €9 billion (~$9.6 billion).</p>
<p>The first tranche was worth €1 billion (~$1.07 billion) for a tenure of 7 years with a coupon of 3.625%. The other two were €1 billion (~$1.07 million) for a period of 12 years, with a coupon of 4.00%, and €750 million (~$807.04 million) for 20 years, with a coupon of 4.25%, respectively.</p>
<p>ENGIE has issued €17.65 billion (~$18.9 billion) of green bonds since 2014.</p>
<p>&#8220;We are delighted with the great success of this new bonds issuance, especially given their long duration up to 20 years. It demonstrates the strong confidence of institutional investors in ENGIE’s strategy, the proven robustness of its credit metrics, as well as its leadership in green finance,” Pierre-François Riolacci, Executive Vice President of Finance of Engie Group, said.</p>
<p>The green bonds were issued in accordance with ENGIE strategy-aligned “Green Bond Framework.” Under the framework, the group undertakes to use the funds only to finance sustainable, socially responsible projects with a positive impact on the environment.</p>
<p>Recently, Revolve Renewable Power Corporation, a utility-scale solar, wind, and battery storage projects developer, <a href="https://mercomindia.com/engie-acquires-1-25-gw-solar-plus-storage-projects-arizona/" target="_blank" rel="noopener">announced</a> the sale of its 1,250 MW of solar plus storage projects to ENGIE IR Holdings, a wholly owned subsidiary of ENGIE following the signing of a share purchase agreement.</p>
<p>Last October, ENGIE <a href="https://mercomindia.com/engie-acquires-6-gw-solar-and-battery-storage-capacity-in-the-us/" target="_blank" rel="noopener">acquired</a> a 6 GW portfolio of solar, paired storage, and standalone battery storage capacity from Belltown Power to boost its U.S. development pipeline.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a><br />
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<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
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Energy Firm ENGIE Raises €2.75 Billion Through Green Bonds

<p>The renewable energy venture of the <a href="https://www.hero-group.ch/" target="_blank" rel="noopener">Hero Group</a>, Hero Future Energies (<a href="https://www.herofutureenergies.com/" target="_blank" rel="noopener">HFE</a>), issued their first USD bond in global markets. The green bond was issued through Clean Renewable Power (Mauritius), a wholly-owned subsidiary of Hero Future Energies Asia.</p>
<p>HFE’s green bond received over $3 billion orders and was successfully priced at a coupon rate of 4.25% for a six-year maturity period. The issuance was oversubscribed more than 8.5 times.</p>
<p>HFE’s first USD green bond comes after its success in 2016 with the issuance of the first-ever climate bond by any Indian renewable company.</p>
<p>Rahul Munjal, chairman, and managing director, Hero Future Energies, said, “HFE’s first USD bond offering has created a landmark by achieving the highest levels of oversubscription for any transaction out of India this year in the USD bond market. This is a very encouraging move by global investors, especially in the post-pandemic phase, and demonstrates the importance of ESG among the investor community.”</p>
<p>He further added that the bond offering has opened up the global debt capital markets for HFE, thereby diversifying its existing sources of capital and positioning HFE as a robust player in the global cleantech space.</p>
<p>Ben Fraser, Chief Financial Officer, Hero Future Energies, said, “The market response to HFE’s first USD bond is a testament to the company’s excellent credit story. Our debut green bond offering witnessed participation from an impressive list of key global blue-chip investors. The bond was launched to the market at initial price guidance of 4.75%.”</p>
<p>Fraser added that given the strong demand from global accounts, price guidance was tightened by 50 bps, “Even with the largest tightening from any Indian credit this year, most investors continued to remain in our books, resulting in a final order book of over USD 3 bn, with the allocation of 58% to Asian investors, 15% to EMEA and 27% to investors in the US.”</p>
<p>Established in 2012, HFE is a renewable energy provider focussed on ‘Planet Positive Power.’ HFE currently has a portfolio of 1.6 GW in India and aims to expand its operations in overseas markets to hit an overall capacity of 5 GW by 2024. HFE operates primarily in the wind, grid-connected solar, rooftop sector, and energy storage.</p>
<p>In November 2019, the United Arab Emirates-based Masdar had <a href="https://mercomindia.com/uae-masdar-india-hero-future-energies-150-million-investment/" target="_blank" rel="noopener">invested</a> around $150 million (~₹10.7 billion) in HFE. Clean Solar Power, a step-down subsidiary of HFE, also <a href="https://mercomindia.com/clean-solar-million-ifc-debt-financing/" target="_blank" rel="noopener">received</a> a debt financing of up to $43.3 million from International Financial Corporation, the financial arm of the World Bank.</p>
<p>Mercom’s flagship event <a href="https://mercomindia.com/mercom-solar-summit-india-virtual-solar-event/overview/" target="_blank" rel="noopener">Mercom India Solar Summit</a>, to be held virtually on April 8th and 9th, has an exclusive session to discuss “<a href="https://mercomindia.com/mercom-solar-summit-india-virtual-solar-event/agenda/" target="_blank" rel="noopener">Project Financing – Solving the Jigsaw Puzzle</a>” This session will bring together investors and developers to discuss the challenges involved in financing solar projects. You can <a href="https://mercomindia.com/mercom-solar-summit-india-virtual-solar-event/register/" target="_blank" rel="noopener">click here</a> to register for the event.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/rahul-nair/" class="vcard author" rel="author"><span class="fn">Rahul Nair</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p>Rahul is a staff reporter at Mercom India. Before entering the world of renewables, Rahul was head of the Gujarat bureau for The Quint. He has also worked for DNA Ahmedabad and Ahmedabad Mirror. Hailing from a banking and finance background, Rahul has also worked for JP Morgan Chase and State Bank of India. <a href="https://mercomindia.com/author/rahul-nair/" rel="noopener noreferrer">More articles from Rahul Nair.</a></p>
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Hero Future Energies Garners Huge Response for Its First Dollar Green Bond Offering

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