UAE flagship renewable energy company Masdar launches first US$750 million 10-year Green Bond - PR Newswire APAC
Summary
Proceeds from all bond offerings under the program will be deployed towards the greenest projects in the renewables sector, namely solar, wind, renewable power transmission and distribution infrastructure, and battery storage assets, and strict ESG criteria will apply to restrict the eligibility of projects.HE Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar and COP28 President-Designate, said, "It is vital to make finance more available, accessible and affordable for developing economies if we have any chance of meeting climate goals to supercharge sustainable development. Today, the successful issuance of Masdar green bonds will support these twin aims, by helping to provide funding towards renewable energy projects where they are needed most. We are thankful for the trust that the financial community has placed in us and we look forward to the involvement of many top class investors in our journey towards delivering renewable energy and accelerating the net-zero transition around the globe. "Niall Hannigan, Masdars Chief Financial Officer, commented, "The proceeds from our inaugural bond offering will be deployed in developing new renewable energy projects around the world. Established in 2006, Masdar is today active in over 40 countries, helping them to achieve their clean energy objectives and advance sustainable development.