Vigeo Eiris has provided an SPO on the sustainability of Neoen’s Green Bond Framework
Vigeo Eiris has provided a second-party opinion on the sustainability credentials and management of Neoen’s Green Bond Framework created to govern their issuances.
Neoen’s €170m green convertible bonds will finance or refinance renewable energy production (solar PV, wind power) or storage activities in consistency with EU taxonomy requirements.
Vigeo Eiris is of the opinion that Neoen’s Green Bond Framework is aligned with the four core components of the GBP 2018 and that it follows the key recommendations from the TEG Proposal for an EU Green Bond Standard (June 2019) and the TEG Final Report on the EU Taxonomy (March 2020). This additional level of alignment shows the ability of Vigeo Eiris to fully integrate the latest EU standards into our methodology, and can be now added to any future SPOs upon request.
We express a reasonable assurance (our highest level of assurance) on the Issuer’s commitments and on the contribution of the contemplated Bonds to sustainability.
Vigeo Eiris has produced more than 260 second-party opinions on sustainable financing operations in Europe, Africa, the Americas and Asia. We were the 3rd biggest SPO provider in the market by number of deals in 2019 and are a Climate Bonds Standard Approved Verifier.
Neoen is a french independent producer of renewable energy whose activities focus on the development and operation of solar power plants, on-shore wind farms and storage. The Issuer’s total capacity in operation and under construction is currently over 3 GW. Neoen operates in fourteen countries including France, Australia, El Salvador, Mexico, Jamaica and Zambia. Additionally, Neoen operates France’s largest solar farm in Cestas, and the world’s largest lithium-ion battery energy storage system in Hornsdale, Australia.