Masdar, the UAE’s state-owned renewable energy firm, is set to enhance its participation in international debt markets as it intensifies efforts to achieve 100 gigawatts of renewable energy capacity by 2030.
In May, Masdar secured $1 billion through a green bond issuance, following previous offerings of $750 million in 2023 and another $1 billion in 2024.
Chief Financial Officer Mazin Khan indicated that the company anticipates becoming a “repeat bond issuer” to support the expansion of its global portfolio.
“There is a significant amount of growth anticipated over the next five to six years,” Khan stated in an interview with AGBI. “To fund and drive that growth, we will require financing.”
Masdar is jointly owned by the sovereign wealth fund Mubadala Investment, Abu Dhabi National Oil Company (Adnoc), and Abu Dhabi National Energy Company (Taqa). The company is mandated to lead the UAE’s investments in solar, wind, battery storage, and increasingly, hydrogen energy.
The latest green bond, which was nearly seven times oversubscribed, was issued in two tranches of $500 million each, with maturities of five and ten years. The bonds carry coupon rates of 4.875% and 5.375%, respectively.
