Latvenergo says it will issue up to €100 million of green bonds

By Lisa Kerner

Charlotte, N.C., May 26 – Latvenergo AS announced plans to issue up to €100 million of green bonds to finance the implementation of environmentally friendly projects, making Latvenergo the first state-owned company in Eastern Europe to enter the capital market with green securities.

The bonds would be listed on the Nasdaq OMX Baltic Bond List, according to a news release.

Latvenergo has developed and approved its Green Bond Framework, and the company’s environmental objectives have been assessed by the Center for International Climate and Environmental Research – Oslo.

“The planned green bonds are issued in order to attract funding for the projects that are important for the environment and that help Latvenergo contribute to national and European environmental objectives,” said Maris Kunickis, a member of the management board of Latvenergo.

Latvenergo is the largest power supply merchant in Riga, Latvia.

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