Deloitte Legal has advised New Energy Investments on a green bonds issue

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Deloitte Legal has advised New Energy Investments on a green bonds issue under a program with a total nominal value of up to PLN 500 million

Warsaw, 1 December 2020

This was the first issue of green bonds on the Polish market with the purpose of funding renewable energy sources. The funds raised from the issue will be used to finance or refinance sustainable development projects, such as photovoltaic farms (i.e. green projects) in line with international standards and guidance prepared by the International Capital Market Association (ICMA) and presented in the Green Bond Principles document. The ecological nature of the investment has been confirmed by an independent international auditor, CICERO Shades of Green AS with its registered office in Oslo, in close cooperation with the National Energy Conservation Agency (in Polish: Krajowa Agencja Poszanowania Energii), a subsidiary of the National Environmental Protection Fund (in Polish: Narodowy Fundusz Ochrony Środowiska). The issue had the form of a non-public offer.

Mateusz Ordyk, Partner and Mariusz Banaś, Managing Associate supported by Sylwia Karpińska, Associate carried out the transaction as representatives of Deloitte Legal advising the issuer. The project was supervised by Zbigniew Korba, Partner.

The issuer is a member of the capital group of Columbus Energy S.A. which is listed on NewConnect, the alternative stock exchange run by the Warsaw Stock Exchange.

The first tranche of the Green Bonds marks the completion of the many months spent on the program. Further issues are planned for in the coming weeks. Last week we acquired large farm projects with a total capacity of 203 MW. We are actively looking for new projects, in each implementation stage, ranging from early development all the way through to already operating farms

- said Janusz Sterna, Vice-President of the Management Board of Columbus Energy S.A.

Columbus Energy S.A. is the largest service provider on the photovoltaic market in Poland. It offers comprehensive renewable energy solutions for households and business, at the same time carrying out long-term investments in photovoltaic farms. The firm sets quality standards, invests in modern technologies, and remains client-oriented at all stages of the delivery process. Its annual rapid revenue growth places it among the largest shareholders of the photovoltaic installation market in Poland.

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