Funding a new source of lithium in Europe
European initiatives to promote sustainable mobility and battery technologies took a major step forward when Vulcan Energy Resources Limited secured €2.2 billion in financing for the construction of its Phase One Lionheart project, dedicated to lithium and renewable energy in Germany. This project will have an annual production capacity of 24,000 tonnes of lithium hydroxide, enough to power about 500,000 electric vehicles per year. It will co-generate 275 GWh of renewable energy and 560 GWh of heat annually for local consumers for over 30 years. BNP Paribas, through its Low-Carbon Transition Group, acted as debt and equity advisor and lender in the financing of this landmark project, the first of its kind in Europe.
A fund to invest in strategic infrastructure
BNP Paribas Asset Management launched the BNP Paribas Environmental Infrastructure Income fund to invest globally in strategic sectors, covering power and digital infrastructure, water and waste management, and transportation infrastructure. This new fund supplements the specialised range offered by the asset manager’s Environmental Strategies Group.
A sustainable digital bond issue for Hong Kong
BNP Paribas participated in structuring green and sustainable bonds for the government of Hong Kong (SAR China). The Group acted as joint global coordinator for the third digital green bond issue of the Hong Kong government, under its sustainable bond programme. This transaction represents one of the largest digital bond issues to date. BNP Paribas worked on this transaction’s structuring and execution phases. As a direct participant on the distributed ledger technology (DLT) platform operated by the Central Moneymarkets Unit of the Hong Kong Monetary Authority, Securities Services ensured the custody and settlement of these digital green bonds.
