Shiroro Hydroelectric Power Plant, Niger State, has received a N8.5 billion investment boost as its operators, North South Power Company Limited’s issue Green Bond to optimize its output.
Shiroro Dam The 15-year tenured bond with 15.60% yield was issued under a 50billion Debt Issuance Programme. It was made possible through the guarantee of InfraCredit, rated infrastructure credit enhancement facility backed by the Nigeria Sovereign Investment Authority.
The Nigeria Sovereign Investment Authority said in Abuja, that with InfraCredit’s guarantee, the Series 1 Green Bonds was accorded a ‘AAA’ credit rating as the first certified corporate green bond and the longest tenored corporate bond issued in the Nigerian debt capital markets approved by the SEC
The Executive Vice Chairman and CEO of North South Power Company Limited, Olubunmi Peters, noted the success of the bond issuance was a significant milestone in the company’s long-term corporate strategy.