Solar Power Developer Faro Energy Issues Brazil’s First “Sustainable” Bond

London-based solar power developer Faro Energy has issued Brazil’s first so-called sustainable bond through its unit in Brazil, aiming to finance solar energy.

RIO DE JANEIRO, BRAZIL - The company last week raised R$15 million (US$3.48 million) to finance solar power projects. A small amount of the proceeds, R$100,000, will be used to finance a course aimed at teaching emotional intelligence to 600 students in the city of Pirapora, in the Brazilian state of Minas Gerais.

The 10-year bond will pay investors a return of inflation plus 5.45 percent annually.

Moody’s expects green, social and sustainable bond issuance to jump 24 percent worldwide this year, to $400 billion, as a growing number of investors start to . . .

To read the full NEWS and much more, Subscribe to our Premium Membership Plan. Already Subscribed?