Masdar, the UAE’s leading clean energy company, has successfully issued its first green bond, raising $750 million. The bond was in high demand, being 5.6 times oversubscribed, which indicates investors’ confidence in Masdar’s financial strength and its strong sustainability credentials. The net proceeds from the green bond will be exclusively invested in new clean energy projects in accordance with Masdar’s Green Finance Framework. The company aims to raise up to $3 billion for new renewable energy projects as part of its long-term plan to increase its global portfolio to 100GW of capacity by 2030. The funds raised will be used to finance solar, wind, renewable power transmission and distribution infrastructure, and battery storage assets, which meet strict ESG criteria.
Resource: https://esgnews.com/uae-renewable-energy-company-masdar-launches-750-million-green-bond/