|Primary impact area||Impact area||Geographic location of impact||Investment commencement||SDG alignment|
|Environment||Renewable Energy||Europe and Developing Markets||2018||
The drive to preserve the human and natural environment for future generations is at the heart of the European Investment Bank (EIB) Climate Awareness Bond.
By directing funds to projects that contribute to mitigating climate change, the bond is helping to create a greener, brighter tomorrow.
EIB is the world’s largest multilateral provider of climate finance. The Climate Awareness Bond, in which Premiums4Good has invested, sees funds allocated to projects across the renewable energy and energy efficiency sectors globally.
These include offshore wind renewable energy projects in the UK, Belgium and Peru; a biomass power plant producing renewable energy in Spain; a power system expansion project in Nepal; and a water supply project with a renewable energy component in the Netherlands.
Through these projects, the bond supports environmental outcomes including renewable energy and energy efficiency, contributing to affordable and sustainable energy in communities around the world.
Case study: Nobelwind Offshore Wind Farm Project
Nobelwind Offshore Wind Farm Project received allocation from the European Investment Bank Climate Awareness Bond.
The renewable energy project involved the construction of an offshore wind farm located in the Belgian North Sea located approximately 45 kilometres off the coast of Oostende and is one of the largest offshore wind farms in Belgian territorial waters.
Offshore wind energy farms, like the Nobelwind Offshore Wind Project, generate clean electrical energy using wind turbines installed at sea. Usually, the wind blows faster and more steadily at sea than on land, resulting in higher and more stable energy yields. With an installed capacity of 165MW, the Nobelwind Offshore Wind Farm has an annual output capacity of 600GHh, which is equivalent to offsetting 283,000t of CO2 emissions a year.
The now complete project makes a critical contribution to provision of a safe, affordable and diversified energy supply for a large portion of the Belgian population, helping to achieve both local and European renewable and sustainable energy targets and fighting climate change.
Source: Premiums4Good Investment Impact Report 2018-2019