Green bonds attract more and more Russian companies
Rosatom Corporation, following many international companies, decided to issue green bonds. It is planned that thanks to the bonds the company will attract the amount of 100 billion rubles, which will be used to build new wind power facilities. In the coming days the bond program will be registered at the Moscow Stock Exchange. It should be noted that Rosatom has already started building wind farms in two regions of the country. The total capacity of the complexes will amount to 300 MW.
No official statements from the representatives of the state corporation have been received yet, but it is known that the circulation period of such bonds will be approximately 10 years. Placement will be carried out by open subscription.
The construction of wind farms is entrusted to NovaWind, a subsidiary of Rosatom. It was founded in 2017, the scope of activity is the design of wind energy complexes, as well as the production of components for wind energy. The company also undertakes operation and maintenance of renewable energy facilities.
NovaWind has built and put into operation wind farms located in Adygeisk, Kochubeyev and other regions of the country.
In addition to companies, the Moscow government also issued green bonds. It was the first Russian region that decided in this way to attract investments for the development of green technologies. Funds obtained from the bonds will be used to develop projects aimed at improving the environment and reducing the negative impact on the environment. In addition, municipal authorities will also pay attention to initiatives to protect and clean up natural resources.
This is the first experience for the country; previously, regions did not use green bonds to obtain funds. However, experts have long been talking about the promise and attractiveness of bonds. This is especially true for Russia, where the bond market is just developing.
Among the buyers of green bonds issued by the Moscow municipality are banks and investment funds. The latter have only recently started using ESG tools and sustainable development strategies, which are popular in many countries. As for Moscow, according to experts, the optimal solution is to issue green bonds in combination with infrastructure bonds, approximately 40/60.
Prior to Rosatom, the monopoly Russian Railways placed its green bonds worth 100 billion rubles on the market. This issue became the largest for the corporation, but according to the assurances of the representatives of the railroad company, it will not be the last. It should be noted that this type of bonds is relatively new, especially for Russia, so the rules of their circulation are only being worked out and may change in the near future. However, the prospect of green bonds is obvious, and in the context of the climate strategy these instruments are actively developing. Analysts predict that their number in the Russian market in the next few years will grow significantly.