International credit rating agency Moody’s Investors Service has affirmed the green bond assessment of Latvenergo AS green bonds – GB1 (excellent), indicating to a well-defined organizational structure and decision making process for selecting eligible projects, as well as the comprehensive description of the projects included in the green bond report 2017.
For the first time the green bond assessment by Moody's was assigned to Latvenergo green bonds on 12 October 2016. The series of 100 million euro bonds was issued in 2015 and 2016.
The capital attracted by issuing green bonds is allocated to a number of generation, transmission and distribution projects. The largest eligible Latvenergoprojects are the Kurzeme Ring and the Daugava HPP hydropower unit modernisation programme. The report on allocation of proceeds received within the green bond issues is provided in the Latvenergo Group Sustainability and Annual Report 2017.