The Industrial Development Authority of the County of Pinal’s $61.4 million green bond was hailed as the first renewable natural gas project financing in the US capital markets.It allowed the project developer to take advantage of the ability to borrow with bonds exempt from income taxes, by using a ‘solid waste disposal exemption’. The unrated, non-recourse green project bond was issued to finance the construction of an anaerobic digester facility in the US state of Arizona, which will become one of the largest such plants in the world when it is completed in November.The plant is owned and operated by a special purpose vehicle (SPV), which is in turn owned by asset manager Equilibrium Capital’s Wastewater Opportunity Fund. More >>
