Masdar completes $750m green bond issuance

This is part of the company’s target to raise green bonds of up to $3b.

Abu Dhabi-based energy firm Masdar has completed its 10-year green bond issuance of $750m at the London Stock Exchange which will be used to fund the company’s commitments on new renewable energy projects.

In a statement, Masdar said  green bond was oversubscribed more than five times “with exceptionally strong appetite from regional and international investors.”

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The amount is the first part of Masdar’s programme to raise up to $3b for its renewable energy projects locally and overseas.

Masdar, which aims to increase its portfolio to 100 gigawatts by 2030, also aims to hold a secondary listing of green bond offerings on Abu Dhabi Securities Exchanges later this year.

The company’s projects include solar and wind power, renewable power transmission and distribution infrastructure, and battery storage, amongst others.