Green Bonds Worth $870.75 Million Issued for Al Dhafra Solar Plant in Abu Dhabi
Image used for illustrative purpose. Photo: WAM
ABU DHABI: A group of leading energy companies has issued Green Bonds worth $870.75 million to support the Al Dhafra Solar Power Plant, one of the largest solar plants in the world. The announcement was made during Abu Dhabi Sustainability Week 2026.
The companies involved include Abu Dhabi National Energy Company (TAQA), Emirates Water and Electricity Company (EWEC), Masdar, EDF Power Solutions, and Jinko Power. The money raised will be used to refinance existing loans for the solar plant.
These Green Bonds will mature in June 2053 and offer a return rate of 5.794 percent. They are expected to receive strong ratings from global agencies, including Moody’s and Standard & Poor’s. BNP Paribas and HSBC helped manage the bond issuance, along with several other international banks.
The bonds follow global green finance rules and meet international standards for solar energy projects. This confirms that the Al Dhafra Solar Plant is a fully green and clean energy project.
TAQA said the solar plant helps prevent about 2.4 million metric tonnes of carbon dioxide from entering the air every year. This supports Abu Dhabi’s plan to use more clean energy and reduce pollution. TAQA also aims to produce two-thirds of its power from renewable sources by 2030.
EWEC said this is the second time it has brought solar green bonds to the market, after a similar bond for the Noor Abu Dhabi solar project in 2022. The company said green bonds help attract long-term investors and support future solar projects in the UAE.
Masdar said it has now raised more than $2.75 billion through green bonds. The company added that large solar projects like Al Dhafra can bring clean, affordable power while attracting global investors.
EDF Power Solutions said the Al Dhafra Solar Plant currently provides electricity to around 200,000 homes. The company noted that the new refinancing helps keep the plant strong and ready for long-term operation, while supporting clean energy goals.
Jinko Power said the successful bond issue shows strong trust from global investors in Abu Dhabi’s renewable energy projects. The company stressed the importance of long-term partnerships to speed up the global move to clean energy.
Al Dhafrah PV Energy Company said the refinancing reflects the plant’s stable performance and strong financial planning. It also supports long-term operations in line with international sustainability standards.
The Al Dhafra Solar Plant started operations in 2023. It has nearly four million solar panels that use advanced technology to produce more energy. The plant also uses water-free cleaning robots powered by solar energy, saving large amounts of water.
TAQA owns 40 percent of the project, Masdar owns 20 percent, while EDF Power Solutions and Jinko Power each own 20 percent.
The project stands as a major step in Abu Dhabi’s journey toward clean energy and a greener future.
