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Taiwan Cement to Expand Deployment in New Energy by Issuing EU€250 Million Green Convertible Bonds through NHOA

published: 2023-05-04 9:30

Italian energy storage company NHOA, under Taiwan Cement, will be issuing EU€250 million of green convertible bonds for 5 years, and will participate in subscription through its wholly-owned overseas subsidiary TCC International Holdings. This is Taiwan Cement’s first issue of green bonds, and the company is also expected to issue green, sustainable, or sustainability bonds in Taiwan this year.

NHOA will allocate all collected funds on a green investment project that primarily consists businesses in establishment and operation of EV charging infrastructures for Atlante Co., a subsidiary of NHOA, in four Southern European countries, as well as a continuous expansion of energy storage businesses and other requirements in sustainable operation for four major continents in the world. This issuance of green convertible bonds fully utilizes the ESG and sustainability strategies of NHOA.

NHOA is a company that targets sustainable development and urges United Nations’ SDG7 target, which ensures access to affordable, reliable, sustainable, and modern energy for all. Taiwan Cement hopes to appeal to the world to prioritize the popularization of essential energy, ratio of renewable energy, and overall utilization efficiency of energy, through issuance of green bonds from NHOA.

Out of NHOA’s fundraised EU€250 million, EU€50 million to EU€100 million will be used for the enlargement of large-scale energy storage businesses in four continents so as to further accomplish global competitive advantages, and EU€150 million to EU€200 million will be allocated to NHOA’s subsidiary Atlante Co. to maintain the latter’s currently expeditious development in Italy, France, Spain, and Portugal under an aggressive construction of the largest charging network in Southern Europe.

Atlante Co. establishes and operates charging stations, and aims to fully utilize green electricity and energy storage, as well as integrate with the national grid. Atlante, as of March this year, had constructed 1,000 charging piles, and is currently establishing 1,600 charging piles. The company aims to operate 5,000 charging piles by 2025, before establishing more than 35K units before 2030.

In addition, NHOA is currently evaluating further fundraising plans for Atlante. NHOA, after being acquired by Taiwan Cement since July 2021, has considerably improved in performance in less than two years by having acquired EU€450 million worth of global energy storage orders, and establishing a rough total of 1.4GWh of energy storage systems in four continents.

 (Cover photo source: Taiwan Cement)

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