| Invested through |
|
|---|---|
| Asset Classes | Impact bonds |
| Impact strategy | Impact Equities and Bonds |
| ISIN code | BE0003822393 |
| Industry group | Utilities |
| Aligned with SDGs |
Elia Group is a leading European transmission system operator (TSO) active in Belgium and north-eastern Germany. It owns and operates two regulated subsidiaries: Elia Transmission Belgium (ETB) and 50Hertz Transmission in Germany, managing over 19,000 km of high-voltage lines and serving ~30 million end users. The group operates in fully regulated markets with stable, inflation-linked revenues, and plays a key role in integrating renewable energy into the European grid.
Investment rationale
Elia Group is a central enabler of Europe’s energy transition, operating the electricity grids in Belgium and north-east Germany. With renewables expanding rapidly, its investments in offshore wind connections, cross-border interconnectors, and digital grid solutions are critical to integrating intermittent generation and securing supply. Belgium focuses on offshore integration and interconnections, while Germany’s 50Hertz manages one of the highest shares of renewable energy in Europe, especially from Baltic Sea offshore wind. Both markets offer stable regulatory frameworks: Belgium incentivises performance and timely delivery, while Germany applies cost discipline through efficiency benchmarking. Overall, Elia combines stable returns with high strategic relevance, making it a key regulated infrastructure play in Europe’s decarbonisation and energy security agenda.
In total, 100% of the proceeds of the impact bond is aligned with the Energy Transition. The contribution to the Energy Transition comes from 100% of proceeds allocated to the impact objective Energy Efficiency.