Green Bond Fact Sheet

This fact sheet details a USD 900 million green loan issued by Geysers Power Company (GPC) on June 1, 2020, to refinance geothermal plant investments and ongoing expenditures. The loan is certified under the Climate Bonds Standard v2.1 and represents the first geothermal energy certification in the United States.

• Geysers Power Company (GPC) issued a green loan totaling USD 900 million on June 1, 2020, with a tenor of 7 years. The proceeds are designated to refinance investments in geothermal plants and cover ongoing expenditures.
• The loan is the first to receive certification for geothermal energy in the United States, adhering to the Climate Bonds Standard v2.1 and verified by DNV GL via a pre-issuance report.
• GPC, a subsidiary of the Texas-based Calpine Corporation, is the largest geothermal power producer in the US. It operates 13 plants with a total capacity of 725 MW located in The Geysers area of the Mayacamas Mountains, California, providing 10% of California's renewable energy.
• The loan pricing is set at LIBOR +2.00% per annum, with an increase of 0.125% every three years. A group of lead arrangers including MUFG Bank, BNP Paribas, and Crédit Agricole, among others, facilitated the deal.

APA

Climate Bonds Initiative (2020). Green Bond Fact Sheet. https://www.climatebonds.net/files/drupal-files/files/2020-06_US_Geysers_Power_Company.pdf

Chicago

Climate Bonds Initiative. Green Bond Fact Sheet. 2020. https://www.climatebonds.net/files/drupal-files/files/2020-06_US_Geysers_Power_Company.pdf.

Wikipedia

{{cite report |author=Climate Bonds Initiative |title=Green Bond Fact Sheet |date=1 June 2020 |url=https://www.climatebonds.net/files/drupal-files/files/2020-06_US_Geysers_Power_Company.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{climatebondsinitiative2020green, author = {{Climate Bonds Initiative}}, title = {{Green Bond Fact Sheet}}, institution = {Climate Bonds Initiative}, year = {2020}, month = jun, url = {https://www.climatebonds.net/files/drupal-files/files/2020-06_US_Geysers_Power_Company.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }