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ZAWYA-PRESSR: TAQA, EWEC, Masdar, EDF power solutions, and Jinko Power complete US $870.75mln Green Bond for Al Dhafra solar plant
ZAWYA-PRESSR: TAQA, EWEC, Masdar, EDF power solutions, and Jinko Power complete US $870.75mln Green Bond for Al Dhafra solar plant
About this update from Taqa Arabia
Abu Dhabi, UAE: During Abu Dhabi Sustainability Week 2026, Abu Dhabi National Energy Company PJSC (“TAQA”), along with Emirates Water and Electricity Company (“EWEC”), Abu Dhabi Future Energy Company (“Masdar”), EDF power solutions, and Jinko Power Technology Co. Ltd (“Jinko Power”), together announced the issuance of long-term Green Bonds to refinance Al Dhafra Solar Photovoltaic (PV) Independent Power Plant amounting to a total of US $870.75 million (AED 3.2 billion).The issuance has a coupon of 5.794% and maturing in June 2053. The Green Bonds are expected to be rated A3 by Moody’s and A by Standard and Poor’s.The Green Bond issuance will be primarily used to refinance the plant’s existing debt obligations and was coordinated by BNP Paribas and HSBC as Joint Global Coordinators. Crédit Agricole CIB, MUFG, Standard Chartered Bank and SMBC acted as Joint Lead Managers and Bookrunners alongside BNP Paribas and HSBC.The use of proceeds complies with the ICMA Green Bond Principles 2025 and the Climate Bonds Standard sector technical requirements for ‘Solar Energy’.Farid Al Awlaqi, Chief Executive Officer, TAQA’s Generation business, said: “After more than two years of full commercial operations, we are pleased that Al Dhafra Solar PV Power Plant’s bonds’ issuance has been certified as a 100% green asset, testament to its current operational track record and projected future performance. The plant is expected to save approximately 2.4 million metric tonnes of CO₂ from being released annually, and with this issuance, further reinforces Abu Dhabi’s commitment to the wider energy transition strategy. TAQA is proud to be contributing to the transition with a target of two-thirds of our gross power capacity being generated from renewables by 2030.”TAQA has grown its power generation capacity to approximately 70 GW (as of 30 September 2025), as it sets out to achieve its 2030 target of 150 GW.Ahmed Ali Alshamsi, Chief Executive Officer, EWEC, said: “The green bond issue for Al Dhafra Solar PV is the second solar fixed income issuance EWEC has brought to market following the Noor Abu Dhabi green bond issued in early 2022. Bringing fixed income investors into the power sector in Abu Dhabi secures competitive long-term capital and enhances investor relations in Abu Dhabi and the UAE, while also allowing financial capital to be re-deployed for future solar PV projects...