Tag: DTE

DTE's green bonds will help pay for solar and wind investments

The Green Bond Trend

DTE Energy Company (DTE:  NYSE) recently priced a ‘green bond’ issuance of $525 million to support renewable energy and energy efficiency.  The thirty-year bonds provide a coupon payment at 4.05%.  DTE is planning to buy solar arrays and wind turbines with its newly flush cash kitty.  The capital raise is of significance less for its size and purpose and more for the fact that a U.S. electric utility company is tapping this unusual financing vehicle. True enough, green bonds are nothing new.  Created to fund projects with environmental or climatic benefits, the first green bonds were issued in May 2007 by the European Investment Bank (EIB).  The...
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