DGAP-News

ABO Wind AG: Bond paves way for construction of large wind and solar farms

DGAP-News: ABO Wind AG / Key word(s): Bond/Issue of Debt ABO Wind AG: Bond paves way for construction of large wind and solar farms 29.01.2021 / 09:00 The issuer is solely responsible for the content of this announcement. Bond paves way for construction of large wind and solar farms

- GLS Bank exclusively distributes bonds

- Nine-year term with attractive interest rates

Customers of the social-ecological GLS Bank can exclusively subscribe to a subordinated corporate bond of ABO Wind AG starting next week. The bond has a term of nine years with attractive interest rates.

"GLS Bank and ABO Wind have been collaborating successfully for about 20 years in pushing the energy transition and mitigating global warming," says GLS Board Member Christina Opitz. "By distributing the corporate bond, we contribute to a further expansion of renewable energies. The goal is to build many more wind and solar farms as quickly as possible in Germany and internationally, to generate climate-friendly electricity."

The wind and solar farms built so far by ABO Wind reduce carbon dioxide emissions by five million tonnes each year. ABO Wind's more than 700 employees are currently working on the development and construction of around 5,000 new wind energy and photovoltaic plants as well as storage projects in 16 countries worldwide. These include very large projects with a capacity of 100 megawatts or more.

For these large projects, the financing of the construction phase can be a challenge, especially when several large projects are realised simultaneously. To prepare for this, ABO Wind had already increased its equity last year. The issuing of the bond fits into this strategy; it will have a volume of up to 30 million euros and can be increased.

"We are honoured that the GLS Bank will offer our bond to its customers, as we are aware of the bank's high ethical, ecological and commercial standards," says ABO Wind's Managing Director Dr Jochen Ahn. "By placing this bond, we can finance and accelerate the implementation of wind and solar farms, and we continue the long-standing and successful cooperation between our companies."