Dutch-based solar developer Photon Energy announced that it will again tap its green bond due in 2027 by up to 25 million euros in order to provide financing for its solar and storage projects.
The statement from the company said that the tap issuance of the green bond will be offered to bondholders of existing bonds in the period between 7 September and 7 October, with an annual interest rate of 6.5 %.
In May, Photon Energy already increased its existing green bond due in 2027 by 10 million euros to a total of up to 65 million euros. The proceeds from the latest transaction will provide financial leeway to the company to advance the development and construction of photovoltaic power plants in Romania, Hungary, and Poland, which are its core Central European growth markets.
Photon Energy is developing utility-scale solar projects with a combined capacity of over 825 MW in its key Central European markets and Australia. Its first six power plants in Romania with a combined capacity of 21.3 MW are currently under construction, with another 11 MW to be added by the end of this year.