The proceeds from Statnett's green bonds will be used for construction projects that have a positive effect on the climate, in this case, the new Smestad-Sogn project, which will improve the security of supply to the city of Oslo and help Oslo reach its climate ambitions. The proceeds will also finance a share of the North Sea Link interconnector, which paves the way for increased renewable energy production and consumption in Norway and the United Kingdom.

In order to enter the market for green bonds, Statnett has established a green bond framework, which includes criteria for Statnett's projects to be eligible for green financing. The framework has been reviewed by CICERO - Center for Climate Research, and CICERO affirms that the company and our projects have a positive climate effect. CICERO scored the Statnett framework dark green, which is the best evaluation possible.

"This is a milestone that we in Statnett are proud of. Bond investors value our role in the transition to a low-emission society, and they see that we carry out our tasks in a sustainable, ethical and socially responsible way. This is not only important for society, but green funding also pays off financially," says Knut Hundhammer, Executive Vice President for Corporate and Public Relations and CFO at Statnett.

In recent years, Statnett has strengthened its efforts to reduce its own greenhouse gas emissions, preserve biodiversity and ensure decent working conditions for everyone working for the company, including supplier employees.

The loans were launched in the market on Tuesday last week through an investor presentation to institutional investors. The terms of the loans were set through a bookbuilding process among investors the following day. About 45 investors, most of them Scandinavian, but also non-Scandinavian and specialized "green" investors, participated with orders. "The strong interest in Statnett's environmental and social work combined with Statnett's credit story enabled the bonds to achieve conditions better than the market price of Statnett's outstanding bonds in the market," Hundhammer points out.

"Statnett's mission is to secure the power supply, contribute to value creation and, not least, facilitate the electrification of society. Through the established framework for green bonds, investors contribute capital to sustainable projects that are built for the electric future. This type of transactions gives investors more information about what they are financing. More capital is allocated to green solutions, and arenas are created that enable direct dialogue between the investors and the borrower. This makes good sense to all parties," Hundhammer adds.