TagEnergy, a global renewable developer and investor, has closed a dual currency (Australian Dollar and Euro) green bond raising €570 million (~$623 million).

The bond issuance, with investors Copenhagen Infrastructure Partners (CIP) and GIC, is expected to provide crucial support for expanding TagEnergy’s renewable energy portfolio across the UK, Europe, and Australia.

The initial tranche of €270 million (~$295 million) will contribute to the funding of the first stage of the 1.3 GW Golden Plains Wind Farm. This wind farm will be complemented by an additional tranche of up to €300 million (~$328 million), supporting the company’s other global renewable assets.

The green bond notes are central to TagEnergy’s strategy to bring more than 4 GW of onshore wind and other renewable energy projects to commercial operation across various Organisation for Economic Co-operation and Development jurisdictions.

The registration of the notes at Interbolsa represents a significant issuance in the Portuguese bond market. The independent certification agency G-Advisory has confirmed that the green bond aligns with the ICMA Green Bond Principles 2021, ensuring its adherence to sustainable investment practices.

CEO Franck Woitiez expressed his enthusiasm for the green bond, emphasizing its instrumental role in swiftly advancing TagEnergy’s current pipeline of renewable energy projects. The company aims to contribute to global efforts to achieve net-zero carbon emissions at an accelerated pace.

“We are proud to partner up with the strong management team of TagEnergy and GIC to support the development of the Golden Plains Wind Farm in Australia and TagEnergy’s prominent pipeline of renewable energy projects. Our Green Credit Fund I provides an important and necessary funding component of the global energy transition, and this investment represents an attractive opportunity for us to make a meaningful contribution to the green transition,” said Jakob Groot, Partner at CIP.

The company has recently achieved financial close on several notable renewable energy projects, including the 756 MW first stage of the Golden Plains Wind Farm in Victoria, Australia, and four battery energy storage systems facilities totaling 169 MW across the UK.

Earlier this year, CIP, on behalf of its New Markets Fund I, entered into a partnership with Viviid Renewables to develop more than 1.8 GW of greenfield renewable energy projects in India.

Last October, CIP entered into a partnership with Ørsted to develop around 5.2 GW of offshore wind in Denmark across four projects.