- Envolt, a subsidiary of ENL has launched a US$45 million green bond programme in Mauritius to fund the construction of 13 solar PV plants.
- Envolt’s first issue is for US$11.5 million.
The bond issue programme will be used to finance the construction and operation of 13 solar photovoltaic parks with a combined capacity of 14.4 MW. The plants in Mauritius will be completed over a period of 10 to 17 months.
UK-based finance company FSD Africa is backing the deal who highlight that the green bonds will be the first of their kind issued in Mauritius under the 2021 Green Bond Principles, which are aligned with global standards and combat greenwashing by requiring rigorous assessment of projects and their respective environmental or emissions claims.
Author: Bryan Groenendaal