Vigeo Eiris, second party opinion for Vena Energy Green Financing Framework, an independent pure player in the renewable energy field in the Asia-Pacific region
Vena Energy has established a comprehensive Green Financing Framework since 2018 and updated it in 2019 in order to provide transparency and accountability to its stakeholders in terms of ESG and contribution to limit climate change
The net proceeds of the Bond/Loan will be exclusively used to finance and/or refinance, in whole or in part, projects related to renewable energy production in Australia, India, Indonesia, Japan, the Philippines, Taiwan and Thailand. Those projects consist of wind, solar and hydropower projects. Vena Energy has defined a clear and quantifiable objective of increasing renewable energy generation:
Solar: Photovoltaic solar electricity, concentrated solar power, infrastructure and manufacturing, transmission.
Wind: Offshore and onshore wind farms, infrastructure and manufacturing, transmission.
Hydro: Run of river and small hydro of less than 15MW, existing large hydro bigger than 20MW in temperate zones, re-powering of existing large hydro system
Vigeo Eiris was commissioned to provide an independent opinion – “Second Party Opinion” or “SPO” – on the sustainability credentials and management of the “Green Bond/Loan”. Vigeo Eiris is of the opinion that the Green Bond/Loan considered to be issued/borrowed by Vena Energy is aligned with the four core components of the Green Bond Principles and Green Loan Principles 2018. The agency therefore expresses an overall reasonable assurance – our highest level of assurance – on Vena’s commitments and the Bond/Loan’s contribution to sustainability.