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Masdar is planning to take a green bond issuance worth between USD 750 mn and 1 bn to market this year to secure funding for its global renewable projects, Masdar Director of Corporate Finance and Treasury Bruce Johnson tells {The National}. The company intends to use the proceeds from the issuance to finance projects in Central Asia, specifically in Uzbekistan and Azerbaijan. This comes as part of a USD 3 bn bonds program aimed at funding clean energy initiatives in the UAE and globally.
This would mark the company’s second green bond issuance, after raising USD 750 mn last year in its debut green bond sale, which it listed on both the London Stock Exchange and the ADX.
Is there more where that came from? “The reason why you can expect that we will do another issuance this year, and in future years, is because we have a very strong pipeline of new greenfield projects around the world,” Johnson said. “These projects are at an advanced stage of development and we are committed to meeting their equity funding needs with the proceeds of our green bonds.”
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