Abu DHABI, UAE – Abu Dhabi National Energy Company, one of the largest integrated utility companies in the Europe, Middle East and Africa region, announced Thursday. On the successful issuance of $750 million in blue bonds to finance sustainable water and wastewater management projects.
This is the largest issuance of blue bonds from an integrated utility company globally. The largest blue bond issuance ever in the Europe, Middle East and Africa region.
The five-year bonds were issued through a private placement through Standard Chartered Bank as the sole intermediary. It received strong demand from international investors.
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The yield on these coupon bonds is 5.125%, and they are listed on the international stock market of the London Stock Exchange. It has a credit rating of Aa3 from Moody’s and AA from Fitch, in line with Taqa’s credit rating.
This deal is the first issuance of blue bonds under Taqa’s green and blue financing framework. Which was updated earlier this year to include blue financing instruments and additional categories related to green electricity transmission networks. And efforts to adapt to climate change.
Credit rating agency Moody’s provided an opinion on Taqa’s green and blue financing framework as a second-party evaluation and gave it a score of “very good”. According to the Sustainability Quality Classification “SQS2”.
Refinancing blue projects
Taqa will direct the net revenues generated from these bonds to finance or refinance eligible blue projects that comply with the aforementioned framework.
So far, Taqa has issued green bonds and blue bonds with a total value of $2.6 billion, after launching the green financing framework in 2023.
Since launching Vision 2030 in 2021, which aims to achieve sustainable and profitable growth, the company has invested nearly $10 billion by the end of 2025. In energy sector transformation projects.
Taqa confirmed that it will continue to invest heavily in low-carbon energy projects. Sustainable water solutions and infrastructure projects capable of adapting to future challenges. In support of the energy sector’s transformation, while providing safe and reliable electricity and water supplies to millions of customers.
