Green Bond Fact Sheet
Williams Caribbean Capital

Date: 4 September 2019

Issue date: 1 June 2019 Maturity date: 1 June 2023 Tenor: 4 years
Issuer Name

Williams CaribbeanCapital

Amount Issued

BBD3m/USD2Country of risk

Barbados

CBI Database

Included

Issuer Type1

Financial Corporate

Bond TypeUse of Proceeds

Green Bond Framework

Green Bond Framework

Second party opinion

N/A

Certification Standard

Climate Bonds Standard
v2.1, including criteria
for:

Assurance report

Pre Issuance Verification

Sustainalytics

Green bond rating

N/A☒ Energy☒ Solar☐ Onshore wind
☐ Offshore wind
☐ Geothermal☐ Hydro☐ Tidal☐ Biofuels☐ Bioenergy☐ Waste to energy☐ District heating☐ Electricity grid

☐ Energy storage☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Buildings☐ Certified Buildings☐ HVAC systems☐ Energy performance☐ Water performance☐ Energy storage/meters☐ Other energy related☐ Industry: components☐ Adaptation & resilience☐ Transport☐ Electric vehicles☐ Low emission vehicles☐ Bus rapid transit☐ Passenger trains☐ Urban rail

☐ Freight rolling stock☐ Coach / public bus☐ Bicycle infrastructure☐ Energy performance☐ Transport logistics☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Water & wastewater☐ Water distribution☐ Water treatment☐ Wastewater treatment☐ Water storage☐ Storm water mgmt
☐ Flood protection☐ Desalinisation plants☐ Erosion control☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience•
Certification Verifier

Solar

Use of Proceeds☐ Waste management☐ Recycling☐ Waste prevention☐ Pollution control☐ Landfill, energy capture☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Land use &agriculture☐ Afforestation/parks☐ FSC Forestry☐ FSC Cellulose & paper☐ Land remediation☐ Energy/water efficiency☐ Sustainable agriculture☐ Adaptation & resilience☐ Other☐ Adaptation &resilience☐ ICT☐ Industry: process

Issue details
ReportingCompany information

Throughout the term of the bond, quarterly reports will be provided to the bondholders.
These reports will include•
information on the allocation of proceeds•
amount of installed solar PV capacity that has been funded by the proceeds•
amount of electricity that has been generated by these solar PV installations
Williams Caribbean Capital (“WCC”) owns an SPV named Williams Solar, which is thelargest developer of solar PV systems in Barbados, having installed over 150 PV
systems to date.
Williams Renewable Energy Limited (“WREL”) has created the Caribbean’s foremost
solar energy business beginning with the deployment of 12 MWp of PV Solar funded
via a BDS$40 million (US$20m) green energy bond program. BDS$19m has been raised
to date with the planned issuance of the remaining BDS$21m by mid-2020 continuing
in November 2019 with a BDS$5m raise to deploy a further 1.25 MW.
This will contribute to reducing imports of fuel to Barbados.

Firsts, records andcertifications
Proceeds description
Climate Bonds view

Underwriters
Deal comments
Credit Rating
Pricing summary
Investors summary

This is the first Certification awarded in the Caribbean region.
The proceeds will be used to finance the development of new solar PV installations oncommercial rooftops and open land.
It is exciting to see Climate Bonds Certification and the development of green bonds
spread to the Caribbean, where many finance professionals are based.

1Issuer categories: ABS, development bank, financial corporate, government-backed entity, loan, local government, non-financial
corporate, sovereign