Northern Gas Networks has launched its first green bond, in a bid to raise capital to prepare for hydrogen heating. The move comes as Hitachi Capital UK prices its own debut green bond at $40m. Launched today, the Northern Gas Networks (NGN) bond has a ten-year term and is aiming to raise £1m. The firm has selected Abundance Investment to oversee the process and, as with other Abundance products, investors will need to pledge a minimum of just £5. Funds raised through the bond will be used to help NGN create gas infrastructure that is more efficient immediately and ready for the hydrogen transition in the coming years. The firm is targeting net-zero ahead of the national deadline and is planning to trial 100% hydrogen in an unoccupied section of the network by the end of 2021.
Edie 24th March 2021 read more »