April 2, 2021
Williams Renewable Energy (Two) Limited (WREL#2) has raised BBD $14m (USD 7m/EUR 5.95m) in green energy bonds to finance more solar photovoltaic (PV) arrays in native Barbados, RF Merchant Bank & Trust (Barbados) Ltd, which acted as the exclusive financial advisor and placement agent in the founding round, announced in a statement last week.
WREL#2 will use the proceeds to add more rooftop and ground-mounted solar in partnership with individuals and businesses in the Caribbean island country.
The financing represents the first stage of an expected BBD-34-million offering. The second round will also be in the form of private placements in Barbados later this year, the RF bank said.
WREL#2 is a wholly-owned subsidiary of Barbados-based Williams Caribbean Capital (WCCB), an impact investment company targeting a diverse range of industries including renewables.
WCCB was founded in 2017 and has since created a solar energy business, developing initial PV projects through its subsidiary Williams Renewable Energy Limited, the bank’s press release states.
(BBD 1.0 = USD 0.50/EUR 0.42)