Expanding Global Clean Energy Projects
Abu Dhabi Future Energy Company PJSC – Masdar, a leading force in global renewable energy, has published its 2024 Green Finance Report, showcasing the transformative impact of its green bond programme. According to the report, proceeds amounting to US$1.685 billion from 2023 and 2024 issuances have been allocated to solar, wind, and energy storage projects across a wide portfolio of markets.
These include initiatives in the UAE, Saudi Arabia, the United States, Germany, the United Kingdom, and emerging clean energy hubs such as Uzbekistan, Azerbaijan, and Serbia. The report underscores Masdar’s growing role in accelerating clean energy transitions not just in the Middle East, but across the globe.
A Significant Climate Impact
Masdar’s findings reveal the measurable environmental returns of its financing model. For every US$1 million invested through green bonds, approximately 3,700 tonnes of CO₂ emissions are avoided annually. In total, the company’s projects now account for over 6.28 million tonnes of CO₂ emissions avoided per year, making a tangible contribution to global climate goals.
Commitment to ESG and Financial Discipline
Mazin Khan, Chief Financial Officer of Masdar, highlighted the company’s dual focus on sustainability and financial integrity.
“We are proud to deploy bond proceeds towards greenfield projects under strict criteria, enabling clean energy progress while maintaining a high level of financial efficiency and investor confidence,” Khan said.
Masdar’s Green Finance Framework is rooted in rigorous environmental, social, and governance (ESG) standards, reinforcing the company’s reputation for accountability and discipline in capital allocation.
Expanding Green Finance Framework
Earlier this year, Masdar broadened its Green Finance Framework to cover new areas, including green hydrogen and standalone battery energy storage systems (BESS). This expansion reflects the company’s forward-looking approach to sustainable technologies and its readiness to support the next wave of clean energy innovation.
Moody’s Investor Services reaffirmed Masdar’s Sustainability Quality Score (SQS1 – Excellent), validating its alignment with global benchmarks such as the ICMA Green Bond Principles. This recognition further strengthens investor confidence in Masdar’s green finance initiatives.
Strong Market Demand for Green Bonds
The appetite for Masdar’s green bonds has remained strong. Its US$1 billion green bond issuance in May 2025 was oversubscribed 6.6 times, underlining growing institutional interest in sustainable finance. Of the allocation, 85% went to international investors and 15% to MENA-based investors, underscoring Masdar’s global reach.
Since launching the programme in 2023, Masdar has successfully raised US$2.75 billion through its green bonds, making it one of the region’s most active issuers in sustainable finance.
Scaling Clean Energy Capacity Globally
Beyond its bond programme, Masdar has engaged in broader financing activities to advance renewable projects worldwide. In 2024 alone, the company secured US$6 billion in non-recourse financing to develop 11 gigawatts (GW) of clean energy capacity across 12 projects in nine countries.
These investments highlight Masdar’s ambition to expand its renewable footprint and contribute to the energy transition in diverse markets.
Transparency and Assurance
To reinforce investor trust, Masdar has partnered with Ernst & Young to conduct a limited assurance review of the allocation of proceeds and selected environmental impact metrics presented in the 2024 Green Finance Report. This independent verification demonstrates Masdar’s ongoing commitment to transparency and accountability in its financing practices.
Building the Future of Green Finance
Masdar’s Green Finance Report reflects more than just financial performance—it signals a blueprint for scaling sustainable energy globally. With billions directed towards renewable projects and millions of tonnes of CO₂ emissions avoided annually, the company is positioning itself as a model for how capital markets can accelerate the clean energy transition.
As global demand for sustainable finance continues to rise, Masdar’s disciplined strategy and growing international investor base underline the pivotal role green bonds can play in achieving climate and energy goals.
