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        Australia’s Victoria raises AU$300 million through world first Green Bond issuance

        Writer:Tom KenningSource:www.pv-tech.org/ Date:2016-7-22
        Australia’s Victoria raises AU$300 million through world first Green Bond issuance

        The Victorian Green Bonds, issued by the Treasury Corporation of Victoria (TCV), were also the first state or federal government-issued bonds anywhere in the world to receive international Climate Bond Certification. Flickr: s2art

        Australia’s Victorian government has issued Green Bonds and raised AU$300 million (US$225 million) in order to finance various projects including a major renewable energy project.

        It is the first Australian government to make such a move. The Victorian Green Bonds, issued by the Treasury Corporation of Victoria (TCV), were also the first state or federal government-issued bonds anywhere in the world to receive international Climate Bond Certification from the Climate Bonds Initiative, which seeks to ensure Green Bonds are used for low carbon-based endeavours.

        The triple-A rated bond, which was launched on 18 July, was fully subscribed in just over 24 hours and supported by 17 investors. The Green Bonds proceeds will go to financing and refinancing State investments in energy efficiency, renewable energy generation, low carbon public transport and water treatment.

        Climate Bonds Initiative chief executive Sean Kidney said: “The Victorian Government has now positioned itself as a national and international leader with the issuing of this first certified green bond through TCV.”

        “Funding for new infrastructure in public transport, clean energy and low carbon building development will all be boosted from this landmark green bond issuance, which meets international best practice in disclosure and transparency.”

        The bond issuance comes at a time of fresh attacks on Australia’s Renewable Energy Target (RET) by conservative groups and power industry bodies in the wake of the federal election.

        TypeInfo: Industry News

        Keywords for the information:solar,green power,  Australia