Småkraft AS, the largest operator of small hydropower plants in Norway, has successfully completed the issuance of its first Green bond of EUR 50 million, with 5 year tenor. The bond is senior secured and will have pledge in 11 modern hydropower plants across Norway, with annual production of ~160 GWh. The bond was rated the darkest shade of Green by CICERO. The bond has a floating coupon of 3m EURIBOR + 1.90% p.a. (no floor), and will be listed on Oslo Børs.
About Småkraft AS
Småkraft is the largest operator and owner of small hydropower plants, with 105 power plants and more than 1.0 TWh of annual production. The company has a highly diversified and modern asset portfolio spread across all Norwegian pricing areas. The company leases the waterfall rights from local landowners, where the land owner typically has a profit sharing agreement and a right to acquire the power plant at the end of the lease (after 40 – 60 years). The majority owner is APG – the largest pension provider in the Netherlands and among the largest pension providers in Europe.