SSE plc, the Perth-based electricity infrastructure giant, said it successfully issued a €750 million 8-year green bond maturing September 5, 2031, at a fixed coupon of 4.0%.

The bond was almost three times oversubscribed.

“Today’s issuance is SSE’s largest senior single tranche and sixth green bond in seven years and reaffirms its status as one of the major issuers of green bonds from the UK corporate sector,” said SSE.

“This latest issuance brings SSE’s total issued green bonds to over £3.2bn.”

The green bond proceeds are earmarked to help finance and/or refinance SSE Renewables projects currently under construction or recently completed such as Viking and Seagreen wind farms, as well as the world’s largest offshore wind farm at Dogger Bank.

SSE said it continues to make progress with delivery of its enhanced £18 billion Net Zero Acceleration Programme Plus set out in May 2023, which will see it more than double its renewables capacity by 2027 whilst increasing investment in the regulated network infrastructure that connects low carbon generation to homes and businesses. 

SSE Finance Director Gregor Alexander said: “As a regular issuer of green bonds SSE continues to show leadership in supporting sustainable finance, with the significance of this type of instrument helping to attract more capital and the drive progress towards net zero.

“Today’s new green bond has been extremely well received on a busy day in the bond markets and was close to three times oversubscribed.

“This new issuance is consistent with our commitment to maintaining a strong balance sheet and will help us deliver £18bn of investments under our enhanced Net Zero Acceleration Programme.”