- the Bonds, Loans and Sukuk Middle East Awards – ESG Bond Deal of the Year 2023 for its 2023 Green Notes;
- the IJ Global Awards Asia-Pacific Portfolio Financing Deal of the Year award for its Sherabad PV, Jizzakh PV and Samarkand PV projects in 2023;
- the IJ Global Awards MENA Solar Deal of the Year for its DEWA 6 PV project in 2023;
83 projects with gross capacity of 22GW
Operational, under-construction and committed projects (as at 31 March 2024)
USD 7.7bn
Total non-recourse project finance debt across the portfolio (as at 31 March 2024; Masdar’s share USD 3.8bn)
USD 1.75bn
Green bonds outstanding
USD 225m
Committed corporate green loan facilities
Green Finance Framework
Masdar’s Green Finance Framework has been developed to provide investors and stakeholders with information regarding our commitment to adhering to the international gold standard for the allocation of funds obtained from green bonds, loans and other financial instruments raised to finance Masdar’s investments at home and overseas.
Our Green Finance Framework has been assigned a Sustainability Quality Score of SQS1 (Excellent) by Moody’s Investor Services, its second party opinion provider. This reflects best practices alignment with the four components of the Green Bond Principles and the Green Loan Principles, and a high expected contribution to sustainability.
Revolving credit and trade finance facilities
In line with our prudent liquidity management strategy, Masdar maintains revolving credit facilities with a syndicate of 14 banks for general corporate purposes. These facilities have a 5-year tenor and were signed in September 2021. The original lenders include Bank of America, BNP Paribas, Citibank, Credit Agricole, First Abu Dhabi Bank, Intesa Sanpaolo, JP Morgan, Mizuho, Société Generale, Standard Chartered, Sumitomo Mitsui Banking Corporation, DBS Bank, Natixis, and UniCredit Bank.
We also maintain uncommitted bank guarantee facilities with local and international banks to aid our business development activities across the globe. These are in place with Abu Dhabi Commercial Bank, Banco Sabadell, Emirates NBD, First Abu Dhabi Bank, Société Generale, and UniCredit Bank.
Credit ratings
Masdar’s long term credit ratings reflect the continuing support from the government of Abu Dhabi and the strong standalone credit profile of our business.
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A2
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AA-
Financial Information and Bond Programme
CERTIFICATIONS
OUTSTANDING BONDS
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Currency Amount Out. (mm) Coupon (%) Maturity date Issue date ISIN MSCI Green Bond Download USD
500 5.250% 25 July 2034 25 July 2024 XS2856902189 Aligned USD
500 4.875% 25 July 2029 25 July 2024 XS2865538776 Aligned USD 750 4.875% 25 July 2033 25 July 2023 XS2651619285 Aligned
AWARDS
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Masdar has received multiple awards for its financing activities including:
1. the Bonds, Loans and Sukuk Middle East Awards – ESG Bond Deal of the Year 2023 for its 2023 Green Notes;
2. the IJ Global Awards Asia-Pacific Portfolio Financing Deal of the Year award for its Sherabad PV, Jizzakh PV and Samarkand PV projects in 2023;
3. the IJ Global Awards MENA Solar Deal of the Year for its DEWA 6 PV project in 2023;
4. The IJ Global Awards Asia-Pacific Renewables Deal of the Year – Wind and the Project Finance International Awards Central Asian Deal of the Year award, in each case for its Zarafshan Wind project in 2022;
5. the IJ Global Awards MENA Renewables Solar Deal of the Year and the Middle East Solar Industry Association Utility Scale Project of the Year awards, in each case for its Al Dhafrah PV project in 2021;
6. the IJ Global Awards APAC Renewables Solar – Frontier Market Deal of the Year award for its Nur Navoi PV project in 2021;
7. the IJ Global Awards Europe Refinancing Renewables Offshore Wind Deal of the Year award for its London Array Offshore Wind project in 2021;
8. the Asian Power Awards Solar Power Project of Year (Indonesia) award and the Asia-Pacific Solar Deal of the Year award, in each case for its Cirata Floating PV project in 2021.
Awards
Awards
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2023
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2022
- The IJ Global Awards Asia-Pacific Renewables Deal of the Year – Wind and the Project Finance International Awards Central Asian Deal of the Year award, in each case for its Zarafshan Wind project in 2022;
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2021
- the IJ Global Awards MENA Renewables Solar Deal of the Year and the Middle East Solar Industry Association Utility Scale Project of the Year awards, in each case for its Al Dhafrah PV project in 2021;
- the IJ Global Awards APAC Renewables Solar – Frontier Market Deal of the Year award for its Nur Navoi PV project in 2021;
- the IJ Global Awards Europe Refinancing Renewables Offshore Wind Deal of the Year award for its London Array Offshore Wind project in 2021;
- the Asian Power Awards Solar Power Project of Year (Indonesia) award and the Asia-Pacific Solar Deal of the Year award, in each case for its Cirata Floating PV project in 2021.
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