Latvenergo AS issues green bond
By acting as an anchor investor, the EBRD supported Latvenergo AS, Latvia’s state-owned energy utility with a €50 million green bond issuance. It received a “dark green” rating under the Green Bond Principles from the Centre for International Climate and Environmental Research, which confirms that it corresponds to a long-term vision of a low-carbon and climate-resilient future.
The bond will support the integration of more renewable sources into the electricity network, especially small and medium-sized solar and wind projects as well as increasing the safety of the country’s energy supply. The first tranche of the sustainability program will finance investment plans of sustainable electricity networks and modernize hydropower plants.