Green Bond Fact SheetGoldman Sachs Renewable Power

Date: 04/03/2020

Issue date: 10-02-2020 Maturity date: 31-12-2044 Tenor: 24
Issuer Name

Goldman Sachs
Renewable Power

Amount Issued

USD500m

Country of risk

United States

CBI Database

Included

Issuer Type1

Financial Corporate

Bond Type

Senior Secured Notes

Green Bond Framework

N/A

Second party opinion

N/A

Certification Standard

Certified under Climate
Bonds Standard v2.1,
including sector-specificcriteria 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• SolarCertification Verifier
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

There will be annual public reports which include:• Confirmation that the proceeds are being allocated and managed appropriately• Information of solar assets• Impact indicators such as installed capacity, and amounts of energy generation
Goldman Sachs Renewable Power "GSRP" is owned by Goldman Sachs Asset Management,
which has over USD1.7tn AUM. It was recently set up to acquire and operate renewable energy
projects across the US.
As of September 2019, it has a total available capital of USD4bn and has deployed USD1.4bn,
all on solar assets. It is one of the largest owners of distributed solar generation assets in theUS.

Firsts, records andcertifications

This is the first Certification linked to the financial industry in the US, and also the second
private sector Certification, after Kilroy Realty Corporation.

Proceeds description

The proceeds will refinance GSRP’s acquisition of over 1 MW capacity worth of solar assets
across the US.

Climate Bonds view

This is an exciting issuance for the Climate Bonds Standard and Certification Scheme. The
recognition of the Certification in the US market is important for the growth of the green bondmarket in the US.

Underwriters

Goldman Sachs, HSBC, MUFG, Citi

Deal comments

Credit Rating
Pricing summary

Coupon: 3.77 %Investors summary

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