Green bonds are an emerging investment tool that tie the proceeds of a bond issue to an environmentally-friendly project.
In June 2016, Westar issued $350 million of green bonds. The inaugural green bond issuance demonstrates Westar Energy's commitment to further developing a full portfolio of renewable energy resources. The green bond funds will be used for investments in certain renewable energy generation projects (“Eligible Green Projects”), primarily for the construction of the Western Plains Wind Farm. With the completion of this project, Westar's renewable energy total will be more than 1,700 MW. This is the equivalent to roughly a third of the energy used by the homes and businesses in our service territory.
Expected in service: late 2016
Anticipated cost: $435 million
Location: Ford County, Kansas
Capacity: 280 MW
Generation resource: Wind Turbines
*Projected emissions avoided based upon Westar's fossil fuel generation fleet
**Per U.S. Energy Information Administration annual average residential electricity consumption.
Attestation report - coming soon