Green Bond Fact Sheet

This fact sheet describes a USD120m private placement bond issued by Argo Infrastructure Partner in August 2015 to fund the Cross-Sound Cable project. The project utilizes an undersea cable to transmit renewable energy (wind and hydro) from New England to Long Island. Although the bond was initially unlabelled, it received an E1/87 Green Evaluation from S&P Global Ratings in 2017. Carbon savings for the project are estimated by consultant ESAI to be equivalent to 600MW of wind capacity, though the issuer has not yet set a reporting timeline for emissions reductions.

• Argo Infrastructure Partners issued an unlabelled bond in August 2015 to partially fund the acquisition of the Cross-Sound Cable project, which later received an E1/87 Green Evaluation from S&P Global Ratings in May 2017.
• The Cross-Sound Cable project involves an undersea cable that improves grid stability by transmitting power from renewable sources, primarily hydro and wind, from New England to Long Island.
• While Argo has committed to disclosing carbon gains and cumulative carbon reductions, it has not established a timeline for this reporting. Market consultant ESAI estimated that the project's carbon savings are equivalent to approximately 600MW of wind capacity.

APA

Climate Bonds Initiative (2018). Green Bond Fact Sheet. https://www.climatebonds.net/files/drupal-files/files/2015-08%20US%20Cross-Sound%20Cable%282%29.pdf

Chicago

Climate Bonds Initiative. Green Bond Fact Sheet. 2018. https://www.climatebonds.net/files/drupal-files/files/2015-08%20US%20Cross-Sound%20Cable%282%29.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Green Bond Fact Sheet |date=17 April 2018 |url=https://www.climatebonds.net/files/drupal-files/files/2015-08%20US%20Cross-Sound%20Cable%282%29.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2018green, author = {{Climate Bonds Initiative}}, title = {{Green Bond Fact Sheet}}, institution = {Climate Bonds Initiative}, year = {2018}, month = apr, url = {https://www.climatebonds.net/files/drupal-files/files/2015-08%20US%20Cross-Sound%20Cable%282%29.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }