geothermal

Baseload Capital Issues Green Bond of $53.6 Million

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Investment company Baseload Capital, owned in part by geothermal energy developer, Climeon (15.7 percent), has issued its first green bond under its green bond framework. In total, $53.6 million has been issued to finance low temperature geothermal heat power
Baseload Capital Issues Green Bond of $53.6 Million
Thomas Öström, CEO of Climeon

The bond is the first one in Sweden focused on low temperature geothermal heat power. The signatories consist of Nordic institutional investors.

“The fact that Baseload Capital has now issued its first green bond for geothermal heat power from low temperatures is an important step for the entire industry. This not only gives Baseload Capital financial strength but also confirms the great potential of this renewable baseload power,” said Thomas Öström, CEO of Climeon.

In the beginning of 2018, Baseload Capital Sweden was formed by Climeon, Blue, Gullspång Invest and LMK in order to offer short-term as well as long-term financing of sustainable baseload power. Since the start, the intention has been to further increase the company’s financing capacity by issuing securities.

Climeon now owns 15.7 percent of Baseload Capital following an investment from Breakthrough Energy Ventures, an investor-led fund backed by some of the world's top business executives.

 

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