Eurogrid ensures the grid integration of half of all wind power capacity integrated in Germany. With the issuance of a green bond in May 2020, the company (re)financed offshore projects to reduce and avoid CO2 emissions.
We confirm in our Post-Issuance Verifier’s Report that the green bond is compliant with the post-issuance requirements of the Climate Bonds Standard. The bond also meets the criteria of the marine renewable energy category of the Climate Bonds Initiative. In the report, we examine the green bond, related projects and assets, and Eurogrid’s internal systems and procedures.
In May 2020, Eurogrid issued its first 750 million EUR green bond to (re)finance projects in the marine renewable energy category. These included the offshore projects Ostwind 1 and 2, which connect generated green energy from Baltic Sea wind farms to the national electricity grid and thus contribute to reducing and avoiding CO2 emissions. The company commissioned imug rating with the Post-Issuance Verification of the bond. The certification process verifies compliance with the provisions of the Climate Bonds Standard issued by the Climate Bonds Initiative and obtains evidence for verification.
In our Post-Issuance Verifier’s Report, we confirm that the Green Bond is compliant with the post-issuance requirements of the Climate Bonds Standard. The bond also meets the criteria of the marine renewable energy category of the Climate Bonds Initiative. In the report, we reviewed the green bond, related projects and assets, as well as Eurogrid’s internal systems and procedures. In doing so, we relied on information provided by Eurogrid and interviews with relevant staff. We conducted our audit in accordance with the Climate Bonds Standard Version 3.0 and the International Standard on Assurance Engagements 3000 (ISAE 3000) – Assurance Engagements other than Audits or Reviews of Historical Information.
In June 2022, we also reviewed the green bond framework for further Eurogrid green bonds in a Second Party Opinion. We confirmed that the framework is in line with the Green Bond Principles (June 2021) and that the financed projects from the “Renewable Energy” category contribute positively to SDG 7 “Affordable and Clean Energy” and SDG 13 “Climate Action”.
Eurogrid, based in Berlin, invests in electricity infrastructure and offers services in this area. Through its subsidiary, the electricity grid operator 50Hertz, the company ensures the grid integration of half of all wind power capacity installed in Germany.
You too have issued a green bond or are planning to do so and want to have it verified according to the Climate Bonds Standard? We are looking forward to supporting you!