Second-Party Opinion Download

Sustainalytics is of the opinion that the DTEK Renewables Green Bond Framework is credible and impactful and aligns with the four core components of the Green Bond Principles 2018. This assessment is based on the following:

USE OF PROCEEDS

The eligible category for the use of proceeds, Renewable Energy, is aligned with those recognized by the Green Bond Principles. Sustainalytics considers that the use of proceeds for wind and solar projects will lead to positive environmental impacts and advance the UN Sustainable Development Goal (7) Affordable and Clean Energy.

PROJECT EVALUATION/SELECTION

DTEK Renewables’ internal process for evaluating and selecting projects is managed by a cross-departmental project team, which includes the treasury team, together with the Business Development and Innovation Department, as well as any appropriate team. Sustainalytics assesses DTEK Renewables’ internal process for evaluating and selecting projects to be aligned with market practice.

MANAGEMENT OF PROCEEDS

DTEK Renewables’ processes for management of proceeds is handled by DTEK Renewables Finance team. DTEK intends to fully allocate the proceeds within 24 months after the Green Bond issuance date. Pending full allocation or reallocation, the issuer will invest unallocated proceeds as per the Company’s investment management policy. The management of proceeds is seen by Sustainalytics as aligned with market practice

REPORTING

DTEK Renewables intends to report on the allocation of proceeds on its website on an annual basis. In addition, DTEK Renewables’ annual impact reporting will include relevant metrics. In addition, a 3rd party auditor will verify DTEK Renewables’ allocation and impact reporting. Given external verification of reporting, Sustainalytics views DTEK Renewables’ allocation and impact reporting as aligned with market best practice.