Abu Dhabi, UAE – The Abu Dhabi National Energy Company “Taqa”, along with the “Emirates Water and Electricity Company”, the Abu Dhabi Future Energy Company “Masdar”, the “EDF Power Solutions” company, and the “Ginko Power Technology Limited” company announced Ginko Power issued long-term green bonds to refinance the “Al Dhafra Independent Solar Power Plant” project.
With a total value of AED 3.2 billion, or US$870.75 million, during Abu Dhabi Sustainability Week 2026.
These bonds were issued at a coupon rate of 5.794% and are due for repayment in June 2053.
It is expected to receive an A3 rating from Moody’s and an A rating from Standard & Poor’s.
The funds raised from these green bonds will be used primarily to refinance the terminal’s existing financial debt obligations.
The issuance was coordinated by BNP Paribas and HSBC as joint global coordinators.
Credit Agricole CIB, MUFG, Standard Chartered Bank and SMBC also served as joint principal managers and underwriting managers.
Along with BNP Paribas and HSBC.
The use of bond yields is consistent with the 2025 ICMA Green Bond Principles and the sectoral technical requirements of the Climate Bond Initiative’s approved standard for the “Solar Energy” category.
A world-leading station
Taqa had raised its electricity generation capacity to approximately 70 gigawatts by September 30, 2025.
This is part of its plans to increase its total capacity to 150 gigawatts by 2030.
The Al Dhafra Solar Photovoltaic Power Plant was opened in 2023.
At the time, it was considered one of the largest single-site solar power plants in operation in the world.
This world-leading station houses nearly four million innovative bifacial solar panels to increase energy production.
It uses the most modern cleaning robots of its kind in the world, powered by energy produced by the plant itself and does not use any water.
This contributes to saving large amounts of water compared to traditional solutions for cleaning solar panels.
Taqa owns a 40% stake in the station, and Masdar owns 20%.
While the other two partners, EDF Power Solutions and Genco Power, each own a 20% stake in the station.
