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Abu Dhabi’s Masdar plans more green bonds to fund clean energy projects

The company aims to raise up to $3 billion to meet its commitments on new renewable energy projects

Abu Dhabi’s Masdar plans more green bonds to fund clean energy projects
[Source photo: Twitter | Anvita Gupta/Fast Company Middle East]

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Masdar, the Abu Dhabi Future Energy Company, which aims to support the tripling of global renewable energy capacity by 2030, listed its first green bond on the London Stock Exchange (LSE) to fund its new clean energy projects.

This marked Masdar’s successful completion of its issuance for the $750 million green bond offering on July 19 through the sale of 10-year senior unsecured notes. The offering was 5.6 times oversubscribed, with the order book peaking at $4.2 billion. Masdar’s green bond issuance is the first part of a $3 billion program to fund new renewable energy projects worldwide. 

“This is a defining moment for Masdar and climate finance, and we are delighted to stand on the world stage at this historic market opening ceremony,” said Minister Al Jaber. 

The company plans to use the proceeds to grow its global portfolio to 100 gigawatts of capacity by 2030. Masdar also plans to list its green bonds on the Abu Dhabi Securities Exchange (ADX) later this year, making it the first to be listed on an exchange in the Gulf region.

All proceeds from the bond offerings under the program will fund green projects in the renewable energy sector, including solar, wind, renewable power transmission and distribution infrastructure, and battery storage assets. 

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