EGE Haina captures US $ 20 million in green bonds

The electricity company EGE Haina raised US $ 20 million in the first issuance of green bonds in the Dominican Republic, intended to finance the expansion of the Larimar I wind farm, as reported this Monday.

The bond issue corresponds to the first tranche of the Larimar I Public Offering trust, which has received authorization to issue up to US $ 100 million of debt.

The demand was 15.27 times higher than the offer of US $ 20 million, “which denotes the interest of investors in this type of investment instruments that promote the sustainable development of the country,” according to the Banco Popular, administrator of the trust, it’s a statement.

Investors will receive a fixed rate in dollars of 5.15%, with semi-annual payments and annual capital amortizations starting next July, with the maximum maturity of the asset being July 31, 2036.

The statement added that EGE Haina plans to place new tranches of the trust bond on the market throughout this year.

The Larimar I wind farm, inaugurated in 2016, is located in Loma Buena Vista, in Enriquillo, Barahona province, and has 15 wind turbines that annually produce 200,000-megawatt hours of clean energy.

The bond issue will serve to finance the expansion of the installed capacity of the wind farm, from 176.5 MW to 296.5 MW, according to data from the Superintendency of the Securities Market.