OPIC Issues First Green Guaranties, Supporting Climate-Friendly Investments
September 25, 2014
(OPIC)
WASHINGTON – The Overseas Private Investment Corporation (OPIC), the U.S.
Government’s development finance institution, this week issued its first-ever
Green Guaranties to eligible U.S. investors in domestic debt capital markets.
These U.S. government-guaranteed obligations adhere to the Green Bond Principles
of 2014, developed in collaboration with leading capital markets issuers,
investors, underwriters and environmental groups.
By providing these Green Guaranties, OPIC joins other public and private sector
institutions in supporting climate-friendly investments, which include green
bonds. The OPIC Green Guaranties raised $47 million toward OPIC’s commitment to
finance the construction of the Luz del Norte solar project in Chile – which,
when completed will be the largest photovoltaic project in Latin America.
“The offering of OPIC’s first Green Guaranties is a significant milestone. This
underscores commitments made by both OPIC and the U.S. Government towards
addressing the global challenge of climate change,” said Elizabeth Littlefield,
OPIC’s President and CEO. “This is the kind of innovative, impactful financing
that has helped keep this Agency nimble and effective over the past four decades
as the world of development finance has been swiftly evolving.”
OPIC’s Green Guaranties support the funding of certificates of participation,
which have been offered in the U.S. debt capital markets for some time. But
OPIC’s self-identification of these guaranties in adherence with the
commonly-accepted Green Bond Principles encourages the growth of an asset class
that is drawing increasing interest as an investment generating both
environmental and financial returns. OPIC will continue to identify
opportunities to offer Green Guaranties on OPIC-supported renewable energy
developments and additional projects that align with the Green Bond Principles.
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