Right on Schedule: First Coupon Payment for Mini Green Bond
RPRE has paid the first coupon payment for our inaugural mini-green bond issued on 1 January 2020. The mini green bond provided financing for Gangga Island Resort and Spa’s solar and battery system, allowing them to make regular monthly instalment payments, significantly improving affordability and adoption. 2 impact investors committed a total of USD300,000 and will have a return of USD390,000 (principal and interest combined), paid bi-annually over 4 years.
The 214 kWp PV system coupled with a 557 kWh battery system was commissioned in November 2019, reducing dirty fossil fuel usage. As of 30 June 2020, this has reduced carbon emissions (CO2e) by 87 tons. In Singapore, this is equivalent to planting 223 tree seedlings grown for 10 years.
One of our impact investors, Octava Impact Investments Pte Ltd added:
“We are pleased to invest and help RPRE and Gangga Island Resort and Spa in their energy transition from dirty fossil fuels to clean renewable energy.
RPRE has been transparent with us throughout the entire investment process. Despite the challenging situation due to COVID-19, the mini green bond repayment was right on schedule without any delays. We are glad to see the impact metrics properly documented, reported and we are comforted that our investment has indeed positively impacted both climate and social goals.
We hope this mini green bond will pave the way for more impact investors that wish to participate and fight climate change together.”
RPRE would also like to extend special thanks to all our investors and stakeholders, including Latham & Watkins LLP for assisting with the pro-bono legal work.
Download a copy of our Impact Report here.
Right People Renewable Energy (RPRE) is a cleantech startup and was founded in 2018. RPRE’s mission is to help commercial and industrial (C&I) clients transition from dirty fossil fuel energy sources to clean renewable energy. RPRE also provides full spectrum services from initial energy analysis to engineering, procurement and construction (EPC) services, including post-commissioning operations and maintenance.
RPRE believes in focusing on a triple bottom line of People, Planet and Profit. We are certified B Corporation and believe that every business can be a force for good. We are also a registered social enterprise with Singapore’s Centre for Social Enterprises (raiSE).
To find out more about us, please visit www.RPREasia.com