Masdar Secures $1 Billion Green Bond Issuance for Renewable Energy Projects Worldwide

Masdar raised USD 1 billion through its second green bond issuance under its Green Finance Framework. The announcement comes one year after the company’s first successful issuance of USD 750 million on the International Securities Market of the London Stock Exchange.

The USD 1 billion funds will be utilized on new greenfield renewable projects worldwide in developing economies as the company pursues a target portfolio capacity of 100 GW by 2030. Additionally, Masdar’s recently published 2023 Green Finance Report detailed the allocation and impact of its debut green bond.

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The proceeds have been used to fund projects in emerging global renewable markets and the Global South with 3.7 GW in total nominal capacity. When fully operational, they are expected to mitigate 5.4 million metric tons of GHG emissions annually. In addition to the green bond program, Masdar is making significant acquisitions of operational companies. Recently, Masdar acquired a majority stake in a Greek renewable energy firm. 

Details About the Green Bond

The issuance comprises dual tranches of USD 500 million each, with 5- and 10-year tenors and coupons of 4.875% and 5.25%, respectively. Regional and international investors had a strong appetite, with the order book peaking at USD 4.6 billion, an oversubscription of 4.6x. The allocation was finalized with an average split of 70% to international investors and 30% to MENA investors.

Following the successful launch of their first green bond in 2023, Masdar’s second green bond issuance for USD 1 billion underscores investor confidence in Masdar’s financial robustness and sustainability credentials. The funds will be pivotal in advancing Masdar's ambitious portfolio of renewable energy projects worldwide.

Read: Avangrid’s True North Solar Project Commences Power Production

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