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FMDQ ADMITS POWER FIRM’S N50BN GREEN BOND

Admin
Wednesday, 21 July 2021

FMDQ Securities Exchange Limited has welcomed the listing of the NSP-SPV PowerCorp PLC N6.33 billion Fixed Rate Series 2 Senior Unsecured Green Bonds under its N50b Bond Issuance Programme.

The admittance is to its platform following the approval of its Board Listings and Markets Committee.

The proceeds from this issuance will be used to fund the development of 15 megawatts (MW) pre-phase 1 solar project and the transmission evacuation infrastructure for NSP PowerCorp PLC.

Speaking on the successful issuance of the bond, the Executive Vice Chairman/Chief Executive Officer, North South Power Company Ltd, Engr. Olubunmi Peters, said: “This landmark transaction reinforces our belief and commitment in promoting clean energy generation in Nigeria.

“It also demonstrates growing investor confidence in our business, management team and long-term strategy.”

The Chief Executive Officer, FMDQ Group, Mr Bola Onadele Koko said, “This transaction further proves that the programme’s effort towards developing a vibrant green bond market are gaining traction as more corporates and sub-nationals are beginning to explore green debt financing opportunities to raise capital towards pipelines of eligible projects.”

About IWIN

The Independent Energy Watch Initiative (I-WIN), an enterprise of Energy ConServ and the Roundtable for the Growth and Development of Power (RODEP), is an online/web based power sector portal that strives to engage stakeholders and the Nigerian public on topical issues in the power sector.

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