Photon Energy Group Receives Second Party Opinion for its New Bond Issuance from imug | rating

  • Photon Energy Group has successfully finalised its Green Financing Framework, detailing how the proceeds of its upcoming green bond issuance will be applied to green objectives.
  • As confirmed by imug | rating, the framework is aligned with the four core components of the International Capital Market Association (ICMA)'s Green Bond Principles 2021.
  • The Green Financing Framework, together with imug | rating's Second Party Opinion, represent a further step in the Company’s effort to increase the incorporation of environmental considerations into its operations.

Amsterdam – 18 October 2021 – Photon Energy N.V. (WSE&PSE: PEN, FSX: A1T9KW) (‘Photon Energy Group’ or the ‘Company’), an Amsterdam-based renewable energy company delivering solar energy and clean water solutions around the world, has obtained a second party opinion from imug | rating, an independent institution in Germany, on the Company’s Green Financing Framework, thus taking another step towards the issuance of its new Green EUR Bond 2021/2027.

“We’re very proud to have received this Second Party Opinion from imug | rating confirming that the framework for our first green bond issuance is in line with the Green Bond Principles 2021. It underlines our commitment to sustainable development, offers prospective investors an insight into the sustainability aspects of our financing model and makes clear how this will be reported beyond the issuance process,” commented Clemens Wohlmuth, CFO of Photon Energy Group.

As announced last week, the Company is now set to issue the bond, with a principal amount of up to EUR 50 million and an interest rate of 6.50 % p.a., to be paid on a quarterly basis. The net proceeds will be used to finance and refinance the development and construction of photovoltaic power plants, allowing Photon Energy Group to contribute further to a low-carbon, climate-resilient future. The Prospectus of this green bond was approved on 12 October 2021.

The Group’s Green Financing Framework provides future investors in this bond with confidence that the mobilised proceeds will be allocated to green projects and that the Company will report on its environmental impact. It has been drafted in line with the green bond principles of the International Capital Market Association (ICMA), which is a market standard for green bonds. In line with standard practices, the framework has been reviewed by a second party opinion provider, imug | rating, which has confirmed the alignment of the framework with the ICMA's Green Bond Principles.


About imug | rating

imug | rating is one of the leading sustainability rating agencies in Germany and a specialist in environmental, social and governance (ESG) research. imug | rating has been active in the fields of sustainable finance and socially responsible investment (SRI) for over 20 years. Its references include major asset managers and alternative banks as well as institutional investors and NGOs.

About Photon Energy Group 

Photon Energy Group delivers solar energy and clean water solutions around the world. Its solar power services are provided by Photon Energy; since its foundation in 2008, Photon Energy has built and commissioned solar power plants with a combined capacity of over 110 MWp and has power plants with a combined capacity of 89.3 MWp in its proprietary portfolio. It is currently developing projects with a combined capacity of more than 590 MWp in Australia, Hungary, Poland and Romania and provides operations and maintenance services for over 300 MWp worldwide. The group’s second major business line, Photon Water, provides clean water solutions including treatment and remediation services, as well as the development and management of wells and other water resources. Photon Energy N.V., the holding company for Photon Energy Group, is listed on the Warsaw, Prague and Frankfurt Stock Exchanges. The company is headquartered in Amsterdam, with offices in Australia and across Europe.

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Martin Kysly
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Tel. +420 774 810 670