Green Finance

At Encevo, we are committed to driving the transition toward a more sustainable, resilient, and low-carbon energy system. Our long-term investments are guided by the ambition to accelerate decarbonisation, enhance energy efficiency, and enable the integration of renewable energy across our value chain. Green finance plays a key role in supporting these ambitions. Since 2018, all of Encevo’ s long term issued debt is green. By aligning our funding activities with our environmental objectives, we ensure that capital is directed toward projects that contribute to climate change mitigation, environmental protection, and the broader goals of a sustainable energy future. 

Encevo’s sustainability strategy is integrated into its business model, which focuses on enabling sustainable energy transition through i) renewable energy generation and supply; ii) smart infrastructure management; and iii) technical services and energy solutions. Our approach is grounded in transparency, accountability, and impact. We are committed to providing clear and consistent information about how green financing supports our sustainability goals, and to ensuring that investors and stakeholders have visibility into the environmental value generated. 

Private Placement 2025

Through green financial instruments, we actively drive projects that accelerate decarbonisation and environmental sustainability, such as renewable energy, energy efficiency, smart grids, sustainable buildings, and clean mobility. To ensure transparency and credibility, the program framework underwent rigorous review by leading ESG ratings provider Sustainalytics. 

The Framework embodies our long-term commitment to financing the energy transition.  The program framework follows the ICMA Green Bond Principles and received the highest possible rating (“strong”) in all categories in Sustainalytics’ Second Party Opinion, confirming the strength and reliability of our approach. 

The first instrument issued under this framework was a €200 million private placement. It is also the first sustainability-focused private placement for Encevo, enabling sustainable growth of the group. The eight-month process preceding the signing led to a green 10-year fixed-rate placement, securing long-term funding for our sustainable projects. This represents an important milestone in Encevo’s strategy to align capital markets with sustainability goals and further strengthen its role in Europe’s energy transition. 

The success of this initiative was also covered by national media:
Paperjam (18.07.2025) and BL Times (18.07.2025)

Green Schuldschein 2021

The Framework demonstrates our long-term commitment to financing the energy transition. Fully aligned with the ICMA Green Bond Principles, the program received a Second Party Opinion from Sustainalytics confirming that all proceeds were dedicated to eligible green categories. Sustainalytics further validated the Schuldschein as a true “Green Schuldschein”, underlining its positive contribution to sustainable development. This is Encevo’s second Green Schuldschein, signed on 8th of December 2021, with pay-out date on 16th of December 2021 (200 MEUR). 

The report issued in 2023 covering the period from 2020 until 2021 and the investments done in 2022 for the finalization of Creos headquarters (“report 2021”), confirms that the proceeds were fully and transparently allocated. The SPO issued by Sustainalytics confirms that the proceeds were fully allocated to investments in grid infrastructure, renewable energy projects, and sustainable real estate, including the completion of the Creos headquarters, and were therefore invested exactly as defined in the Framework. 

Green Schuldschein 2018

In alignment with Encevo’s strategy and sustainability vision, the company issued in 2018 its first Green Schuldschein of EUR 250 million to finance and refinance projects in the field of either renewable energy, energy transmission, distribution & smart grid, sustainable real estate or clean transportation solutions. All these projects contribute to the group’s overall sustainability strategy related to greenhouse gas emissions reduction, renewable energy and improvements in the efficiency of energy infrastructure.

The issuance was supported by a Second Party Opinion by Sustainalytics which confirmed that Encevo’s 2018 Green Schuldschein’s use of proceeds is fully aligned with the eligible categories as defined in this Framework. The opinion stated that the Schuldschein was a “Green Schuldschein” with positive contribution to sustainable development, aligned with the Green Bond Principles.

Encevo is very proud to have been awarded the mtn-I “Deal of the Year” for issuing the largest Green Schuldschein 2018. The goal of mtn-i awards is to recognise where the MTN (« Mid-Term Note ») market has created most value for issuers, dealers and investors as it keeps adapting and evolving solutions that meet their needs.

The report issued in 2019 covering the period from 2016 until 2019 (“report 2019”) confirms that the proceeds were fully allocated. The SPO issued by Sustainalytics confirms that these proceeds were allocated as defined in the Framework.