SSE has followed up its inaugural €600m Green Bond in September 2017 (Green Bond 1) with a second €650m Green Bond in September 2018 (Green Bond 2) – making SSE the largest issuer of Green Bonds in the UK corporate sector.
The proceeds from both SSE’s Green Bonds have been allocated to refinancing part of SSE’s £1.1bn portfolio of eligible projects of onshore wind farms in the UK and Ireland and the 1.2GW Caithness Moray High-Voltage Direct Current (HVDC) connection project. These eligible projects are listed in SSE’s Green Bond Framework, which also sets out SSE’s Green Bond Principles.
A commitment was given to update investors each year on the allocation of proceeds and environmental impact from the Bond. SSE’s Green Bond reports are detailed below, along with PwC LLP’s independent assurance of allocation to specific eligible green projects.
Framework for Green Bond reporting