Green Bonds

Issuance of Green Bonds

On January 29, 2019, Algonquin Power Co. (dba Liberty Power) issued C$300.0 million of senior unsecured debentures bearing interest at 4.60% and with a maturity date of January 29, 2029. The debentures were sold at a price of $999.52 per $1000.00 principal amount.

The debentures represent Liberty Power's inaugural “green bond” offering and are closely aligned with the Company's commitment to advancing a sustainable energy and water future. Under its Green Bond Framework, the proceeds of any "green bond" offering are to be used to finance and/or refinance investments in renewable power generation and clean energy technologies.

In January 2020, Liberty Power engaged Sustainalytics to review the project(s) funded through the issued green bond and provide an assessment as to whether the project(s) met the Use of Proceeds criteria and the Reporting commitments outlined in the Liberty Power Green Bond Framework. Appendix 1 to Sustainalytics’ report sets out the use of proceeds from Liberty Power’s 2019 "green bond" offering.

To view the report, please click the link below:

Green Bond Annual Review – January 2020
AQN Green Financing Framework
AQN Green Financing Framework, Second-Party Opinion