London Stock Exchange welcomes Northern Powergrid on celebrating their inaugural green bond issuance on the Sustainable Bond Market

Northern Powergrid is delighted to become the first GB electricity distribution network operator to power its business investment plans via green finance, issuing its inaugural green bonds under the recently published Green Finance Framework.

Northern Powergrid is the electricity distribution network operator for the North East, Yorkshire and northern Lincolnshire.  The company delivers power safely and reliably to 8 million customers across 3.9 million homes and businesses. Its network consists of more than 63,000 substations and 60,000 miles of overhead power lines and underground cables, spanning some 9,650 square miles.

The Green Finance Framework, titled “A Framework for Decarbonisation”, sets out Northern Powergrid’s new eco-focused funding strategy to support its multi-million pound investment plans to power and enable the growth of low-carbon energy across the North East, Yorkshire and northern Lincolnshire now and into the future.

On 22 June 2020, Northern Powergrid (Northeast) plc celebrates the listing of its 42 year GBP 300 million bonds on the London Stock Exchange’s Sustainable Bond Market. The proceeds will be invested in projects that enable and support the take-up of low-carbon energy as well as lowering its environmental impact throughout Northern Powergrid (Northeast)’s network licence area and across the communities it serves. 

Tom Fielden, Northern Powergrid’s Finance Director, commented:
 “Our ‘A Framework for Decarbonisation’ financing strategy sets out the link between the funding we attract from the financial markets and the way the investment it supports can deliver long-term environmental benefits for our customers across the North East, Yorkshire and northern Lincolnshire. I am delighted that the inaugural green bonds issued under the framework have been listed on the London Stock Exchange’s Sustainable Bond Market, it is a privilege to be the first electricity distribution network operator to have green bonds listed.”

“Decarbonisation of power is a vital part of the way we’ll move to a zero-carbon future, essential for the UK’s 2050 target, as well as the global target of the Paris Agreement. Electricity networks like Northern Powergrid’s have a central role in enabling this transformation, providing the regional infrastructure to link generators and customers in new and flexible ways to drive change and unlock capacity for new technologies.”  


Shrey Kohli, Head of Business Development and Product, Multi Asset Primary Markets, London Stock Exchange said:

“We are delighted to support Northern Powergrid’s inaugural green bond through London Stock Exchange’s Sustainable Bond Market, which champions issuers committed to a low carbon future and improves transparency for investors. There has been an undeniable shift in momentum in green and sustainable financing in the UK, as companies incorporate sustainable approaches into their strategies and in support of the UK government target of net-zero by 2050. London Stock Exchange Group continues to be at the forefront of sustainable financing, working with market participants globally to develop products and services that support the transition to a low carbon economy.”

Northern Powergrid is  part of Berkshire Hathaway Energy and share its vision for a secure and sustainable energy future. 

The banks placing the issuance were Lloyds Bank Corporate Markets, NatWest Markets and Santander Corporate Investment Banking. NatWest Markets advised on the Green Finance Framework.

Quick facts

Market: Main Market
Instrument market cap (£m)
Listing/Admission to trading
17 Jun 2020
Looking for new and recent issues?

More recent

London Stock Exchange welcomes the Rt Hon John Glen, Economic Secretary to the Treasury, celebrating HM Treasury UK Sovereign Sukuk

The UK Government today celebrated the listing of its second sovereign Sukuk on London Stock Exchange. The 5-year offering was for £500 million, more than double the size of the UK Government’s debut issuance and the largest sterling Sukuk issuance to date. The UK’s second Sukuk saw strong investor participation, with demand from a diverse group of high-quality institutional investors from the

Learn more
London Stock Exchange welcomes Cornerstone FS plc to AIM

The Ordinary Shares of Cornerstone FS plc were admitted to trading at 8.00am on Tuesday 6 April 2021, under the stock market ticker CSFS. The placing price was 61p per share, resulting in a market capitalisation of £12.4 million.

Cornerstone FS plc, is a cloud-based provider of international payment, currency risk management and electronic account services to SMEs. Its strategy is to

Learn more
London Stock Exchange welcomes Deliveroo Holdings plc to the Main Market

Today, the online food delivery platform Deliveroo has made a significant step in the execution of its ambitious growth plans as it begins trading on the Main Market of London Stock Exchange, having raised net proceeds of around £1.5bn. Deliveroo’s admission is the biggest in London since 2011 and the largest UK technology listing of all time.

Founded in 2013 by Will Shu, Deliver

Learn more
London Stock Exchange welcomes Digital 9 Infrastructure plc to the Specialist Fund Segment of the Main Market

London Stock Exchange welcomed Digital 9 Infrastructure plc to the Specialist Fund Segment of the Main Market today, after it raised gross proceeds of £300 million in its Initial Public Offering.

Digital 9 Infrastructure plc (DGI9) is a newly established, externally managed investment trust. It will invest in a range of digital infrastructure assets which deliver a reliable, functioni

Learn more