PRE-ISSUANCE VERIFICATION LETTER

Sustainalytics conducted a pre-issuance verification of AC Energy's green bond in January 2019 to ensure its conformance with the Wind, Solar, and Geothermal Energy Criteria of the Climate Bonds Standard Version 2.1. The verification concluded that the bond's framework for financing or refinancing eligible renewable energy projects meets the required standards.

• Sustainalytics verified that AC Energy's green bond conforms to the Pre-Issuance Requirements of the Climate Bonds Standard Version 2.1, specifically regarding the Wind Energy Criteria, Solar Energy Criteria, and Geothermal Energy Criteria.
• The green bond is intended to finance or refinance 'Eligible Green Projects' in the renewable energy sector, specifically onshore wind, solar, and geothermal energy.
• AC Energy has established specific renewable energy targets, including developing 5 GW of renewables capacity by 2025 and ensuring at least 50% of its energy is generated from renewables.
• The nominated wind energy projects include new capacities in Australia (1,000 MW), Vietnam (800 MW), the Philippines (200 MW), and Indonesia (200 MW), as well as the existing Indonesia-Salak project (75 MW).
• Nominated solar energy projects include new capacities in Australia (700 MW), the Philippines (600 MW), and Vietnam (400 MW).
• The nominated geothermal project is the existing Darajat 3 facility, which has an expected gross capacity of 121 MW and CO2 emissions of 30.14 gCO2equ/kWh.
• AC Energy's internal controls for the bond include segregating and tracking proceeds systematically and investing unallocated proceeds in cash, cash equivalents, or using them to repay existing credit obligations of the AC Energy Group.

APA

Climate Bonds Initiative (2018). PRE-ISSUANCE VERIFICATION LETTER. https://www.climatebonds.net/files/drupal-files/files/AC%20Energy%20CBI%20Pre-Issuance%20Verification%20Statement%20PUBLIC.pdf

Chicago

Climate Bonds Initiative. PRE-ISSUANCE VERIFICATION LETTER. 2018. https://www.climatebonds.net/files/drupal-files/files/AC%20Energy%20CBI%20Pre-Issuance%20Verification%20Statement%20PUBLIC.pdf.

Wikipedia

{{cite press release |author=Climate Bonds Initiative |title=PRE-ISSUANCE VERIFICATION LETTER |date=2018 |url=https://www.climatebonds.net/files/drupal-files/files/AC%20Energy%20CBI%20Pre-Issuance%20Verification%20Statement%20PUBLIC.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{climatebondsinitiative2018preissuance, author = {{Climate Bonds Initiative}}, title = {{PRE-ISSUANCE VERIFICATION LETTER}}, publisher = {Climate Bonds Initiative}, year = {2018}, url = {https://www.climatebonds.net/files/drupal-files/files/AC%20Energy%20CBI%20Pre-Issuance%20Verification%20Statement%20PUBLIC.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }