Abu Dhabi Future Energy Company PJSC (Masdar) said on Monday it had allocated more than $1.685 billion from its green bond programme to finance solar, wind and energy storage projects worldwide, as the UAE state-owned firm accelerates its clean energy expansion.
The funds, raised through bond issuances in 2023 and 2024, have been channelled into projects across the UAE, Saudi Arabia, the United States, Germany, the UK and emerging markets including Uzbekistan, Azerbaijan and Serbia, according to Masdar’s 2024 Green Finance Report.
Masdar said the investments were avoiding around 6.28 million tonnes of carbon emissions annually, equivalent to nearly 3,700 tonnes of CO₂ savings for every $1 million invested.
The report comes as Masdar broadens its Green Finance Framework to include hydrogen and stand-alone battery storage. In March, Moody’s reaffirmed its top-tier sustainability quality score of SQS1 for the framework, which it said was aligned with international standards.
Investor appetite for Masdar’s bonds remains strong. Its $1 billion green issuance in May was oversubscribed 6.6 times, with 85% of allocations going to international buyers. Since 2023, Masdar has raised $2.75 billion through its green bond programme.
The company, majority owned by Mubadala Investment Company, said it also secured $6 billion in non-recourse financing last year to back 11 GW of new capacity across 12 projects in nine countries.
Masdar CFO Mazin Khan said the firm’s strategy “enables clean energy progress while maintaining a high level of financial efficiency and investor confidence.”
The company engaged Ernst & Young to review proceeds allocation and environmental metrics disclosed in the report, underscoring a push for greater transparency in sustainable finance.
