China’s Chinese Three Gorges issued the equivalent of 650 million euros in “green bonds” to finance the acquisition of wind farms in Portugal and Germany. The amount in question is unprecedented in this type of issue to finance operations in Europe, Bloomberg reports, citing Standard & Poor’s. The emission by the world’s largest operator of hydroelectric dams will be used to finance the acquisition of 710 megawatts of installed wind capacity in the two European countries. With regard to Portugal, the operation will finance the purchase of 12 wind farms, with a production capacity of 422 megawatts, according to the financial rating agency.
This capacity also includes the 288 megawatts of a wind farm located in the North Sea off the coast of Germany Standard & Poor’s attributes to this issue by Three Gorges Finance II (located in the Cayman Islands) an E1 rating, the highest on a four-level scale, according to a report published by the rating agency last Monday. Although the assessment of emissions of “green bonds” is not a credit rating, it allows us to rank emissions related to environmental assets.
