Sign in
Spanish renewables and infrastructure company Acciona has secured EUR 300 mn in funding to support decarbonization and sustainable growth in the GCC, according to a statement published last week.
Where is the money going? The green loan — linked to a local initiative supporting local suppliers in developing lower or zero-carbon building materials — will be allocated to climate change mitigation and environmental conservation projects, including renewable energy, energy efficiency programs, sustainable mobility, and sustainable water management.
Acciona has other regional projects: Acciona is building a 75 MW wind farm with Swicorp in Tunisia. It’s also building a 61 MW solar photovoltaic project next to the Jubail 3B desalination plant in Saudi Arabia that will help cut down the plant’s power consumption. The company was also among the prequalified bidders to develop the 400 MW third phase of the 1.6 GW Noor Midelt solar complex in the Atlas Mountains in Morocco last year.
ADVISORS- The green loan coordinators were First Abu Dhabi Bank and Standard Chartered, with SFI Markets as the arranger and Dentons as legal counsel.
