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Tadweer + Ewec’s waste-to-energy project secures a green loan: Abu Dhabi’s inaugural large-scale waste-to-energy initiative, spearheaded by Tadweer Group and Emirates Water and Electricity Company (Ewec), secured financing led by Standard Chartered, according to a press release. The exact size and terms of the financing were not disclosed.
Standard Chartered played several roles: The bank acted as pre-bid lead, documentation bank, bookrunner, initial mandated lead arranger, green loan coordinator, hedging bank, sole VAT lender, sole equity bridge loan lender, hedge bank, global facility agent, commercial facility agent, and offshore and onshore security agent.
Details: The project, developed in collaboration with a Japan-based consortium, aims to process 2.7k tons of municipal solid waste daily, diverting 80% of Abu Dhabi’s landfill-bound waste by 2030 and potentially reducing CO2 emissions by up to 1 mn tons annually.
