2021 Green Bond
In 2021, Eversource Energy subsidiary NSTAR Electric Company completed its third issuance of $300 million of green bonds (3.10% debentures due 2051) that financed Eligible Green Expenditures. 100% of these expenditures were associated with our energy efficiency programs in the Commonwealth of Massachusetts.
A green bond is a fixed income instrument designed specifically to support climate-related or environmental projects. Offering the green bonds is another way the company is supporting energy efficiency efforts in Massachusetts.
When issued in May 2021, the company committed to allocate an amount equal to the net proceeds from the bonds ($294.6 million) to Eligible Green Expenditures -specifically energy efficiency program spending in Massachusetts.
The company also committed to report the key environmental features of those expenditures and to publish an independent accountants' report on the allocation of the Eligible Green Expenditures.
Below you can find links to information on the energy efficiency programs as well as the environmental benefits of these programs.
There are also links to the Green Bond Prospectus and our management assertion letter regarding the green bond allocation together with the independent accountants’ attestation report.