Business

PG&E completes $860 million green bond issuance

Pacific Gas and Electric Co.
PCG,
-0.48%

on Tuesday said its subsidiary, PG&E Recovery Funding, LLC, recently completed an $860 million green bond issue to fund electricity work that has “significant environmental benefits.” .

The company said investments funded by the bond will include power system improvements and other electrical system improvements.

The company also said that funding bushfire safety through these recovery bonds “will provide customers with significant savings due to lower securitization costs when compared to traditional utility financing.” .

“These bonds will reduce costs for our customers while also funding projects that help protect California’s forests from the impacts of the hurricanes,” said Chris Foster, EVP and chief financial officer of PG&E Corp. our extreme weather and climate change, facilitate clean distribution of energy and protect our customers and planet from future climate risks. ”

PG&E said the recent issuance has been designated a green bond by analysis by S&P Global Ratings.

https://www.marketwatch.com/story/pg-e-finalizes-860m-green-bond-issuance-271637106395?rss=1&siteid=rss | PG&E completes $860 million green bond issuance

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