Luqa, Malta – 25 July 2023 – The Water Services Corporation (WSC) today announced the launch of Malta’s first-ever Green Bonds. The €25 million issuance will have a maturity term of 10 years and an interest rate of 4.25%.
The Green Bonds are in line with the UN’s Sustainable Development Goals and the EU’s Green Deal. They mark WSC’s dedication to environmental stewardship and its commitment to investing in sustainable water management.
Proceeds from the Green Bonds will be used to finance a number of green projects, such as:
- Gozo’s cutting-edge reverse osmosis plant in Hondoq.
- Solar farms that will generate renewable energy and reduce WSC’s reliance on fossil fuels.
- Wastewater treatment plants that will improve water quality and reduce pollution.
- Enhancements to WSC’s water network that will reduce non-revenue water and improve efficiency.
These projects will help to address some of the most pressing water challenges facing Malta, including water scarcity, climate change, and pollution. They will also help to create jobs and boost the economy.
“This is a landmark event for us as a corporation and for Malta as a whole,” said WSC CEO Karl Cilia. “We are the first company in Malta to take this ‘green’ step, we are thrilled to be one of the first water utility companies pursuing such green initiative.”
The Green Bonds are open to both institutional and retail investors. Interested investors can consult an authorized financial institution.
“We encourage investors to support our Green Bonds,” said Cilia. “These bonds are a great way to invest in the future of Malta’s water sector and to support our commitment to environmental sustainability.”
The framework adopts the four key pillars of the ICMA Green Bond Principles, which include the use of proceeds, process for project evaluation and selection, management of proceeds, and reporting.
The launch of the Green Bonds is a significant step forward for WSC and for Malta as a whole. It demonstrates WSC’s commitment to environmental sustainability and its leadership in the green finance market.
The Green Bond Framework, is issued by Clearflowplus p.l.c., a subsidiary of WSC Group and guaranteed by WSC.