UAE’s Biggest Green Power Producer Masdar Targets $750 Million Bond Sale - Bloomberg
The biggest renewable energy producer in the United Arab Emirates plans to raise as much as $750 million in its first ever green bond sale to fund new solar, wind and hydrogen projects around the world.
Masdar will likely sell the bonds in the second half of the year, Chief Financial Officer Niall Hannigan said in an interview in Abu Dhabi. The firm plans to grow its renewables capacity five-fold by the end of the decade.
“Given the growth ambitions we have as a business and the pipeline we have in place, I would be expecting that we’re likely to be an annual issuer,” Hannigan said on the sidelines of Abu Dhabi Sustainability Week, the emirate’s annual conference for renewables, water and climate change.
The fresh funds will help the government-owned company to continue to develop new projects at home, in Saudi Arabia, central Asia and other markets. It will also seek to combine solar and wind assets with green hydrogen projects in markets like Egypt and Oman and other areas with export and transport connections. It has a green capacity target of as much as 100 gigawatts by the end of the decade.
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