One of the biggest backers of Australian wind farms, French-based multinational Engie has announced a €1.25 billion ($1.87 billion) green bond to support a greater push into renewable energy.

This latest issuing brings the total of green bonds issued to €5.25 billion since 2014.

Green bonds, also known as climate bonds, are a rapidly growing segment of financial instruments issued by companies keen to demonstrate their ethical and social responsibility credentials.

The proceeds of Engie's latest bond will be used to finance the French group's renewable energy and energy efficiency projects, in natural resources preservation projects, and its 'Rassembluers d'Energies' or Energy Rallyers project.