October 12, 2017 / 4:49 PM / 10 days ago

Germany's Innogy issues $1 billion bond to fund wind farms

FRANKFURT (Reuters) - Innogy, Germany’s largest energy group, on Thursday issued a 850 million euros ($1.01 billion) corporate green bond to refinance wind power projects in Europe, it said.

FILE PHOTO: Innogy logo in Essen, Germany, March 14, 2017. Reuters/Thilo Schmuelgen

Proceeds of the bond, which has a 10-year maturity, will be used to refinance four offshore wind farms in Britain and Germany as well as an onshore wind farm in the Netherlands that is either under construction or already operating.

The bond was met with “strong interest from investors and was oversubscribed several times”, Innogy said.

Innogy, in which utility RWE holds a 76.8 percent stake, on Wednesday said it bought the rest of British offshore wind project Triton Knoll from Norway’s Statkraft [STATKF.UL].

Reporting by Christoph Steitz. Editing by Jane Merriman

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