ContourGlobal, a KKR-backed Independent Power Producer (IPP), has raised over $1 billion through its first corporate-level Green Bond issuance, signaling a pivotal step in its transformation into a sustainable energy leader. The offering included €500 million in 5.00% notes and $510 million in 6.75% notes, both maturing in 2030.

The issuance, 4.5x oversubscribed, underscores robust investor confidence in ContourGlobal’s sustainability-focused strategy. Proceeds will fund renewable energy expansion, battery storage systems, and the decommissioning or repurposing of high-emission assets. This aligns with ContourGlobal’s commitment to achieving Net Zero emissions by 2040.

Green Bond Allocation

Funds raised through this initiative will drive projects under the company’s Green Bond Framework, rated “Excellent” by Sustainable Fitch, and aligned with the International Capital Market Association’s (ICMA) Green Bond Principles 2021. Key allocations include:

Developing and acquiring renewable energy assets.
Expanding battery storage for grid reliability.
Transitioning high-emission liquid fuel plants to efficient natural gas.
Phasing out coal by 2027.

CEO Antonio Cammisecra described the issuance as a milestone:

“This first corporate-level Green Bond issuance in our almost 20-year history underscores our dedication to growth and transformation into a more sustainable IPP.”

Commitment to Net Zero

ContourGlobal has outlined ambitious targets:

40% reduction in carbon intensity by 2030 compared to 2022 levels.
15% reduction in Scope 3 emissions by 2030.
Achieving Net Zero emissions by 2040.

The company’s efforts align with UN Sustainable Development Goals (SDGs) 7 & 13, focusing on affordable clean energy and climate action.

ContourGlobal’s CFO, Antonio Cammisecra, emphasized its long-term vision:

“We intend to continue investing in renewable energy, battery storage, and innovative technologies, delivering value to our stakeholders while supporting the global fight against climate change.”