RWE's first-of-its-kind €1 billion ($1.1 billion) dual-tranche green hybrid bond was recognised by judges as the standout entry as the green bond of the year in the corporate Europe, Middle East & Africa category.

The hybrid bond was the renewables company's first-ever subordinated issuance in a green format and was fully aligned with the EU Taxonomy. It generated more than €10.5 billion and was more than 11 times oversubscribed.

Proceeds from the bond will directly finance large-scale renewable energy projects, battery storage and green hydrogen projects in Europe.

One judge described it as a "landmark transaction that combines structural innovation, strong investor demand and credible use of proceeds".