Germany’s Reconcept issues energy storage bond

The new investment has a maximum issue volume of €5 million ($5.73 million). The annual, fixed interest rate is 6.75%.
Image: martaposemuckel/Pixabay

Hamburg-based green investor and clean energy developer Reconcept Group has issued the Reconcept EnergieDepot Deutschland I energy storage bond.

Announced yesterday, the seven-year bond will bear interest, to be paid biannually, with a coupon of €6.75 per year. The issue volume of the bond is up to €5 million.

Reconcept said it will use the net proceeds for project development, construction, operation, management, financing, and distribution of commercial and industrial battery energy storage systems, whether on a standalone, grid-supporting basis or in combination with solar and wind generation sites.

“Battery storage as a standalone power plant or in combination with a solar or wind farm is the order of the day,” said Reconcept Group Managing Director Karsten Reetz. “Those developing sustainable energy parks today also plan to include large-scale battery [energy] storage. Accordingly, the market for commercial battery [energy] storage projects in Germany is booming.”

From pv magazine Deutschland.

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