Abu Dhabi Future Energy Company PJSC, also known as Masdar, said on Monday it had deployed more than $1.685 billion from its green bond program into renewable energy projects by the end of 2024, backing clean power development across multiple markets.

Clean Energy Investments Across Regions

Proceeds from Masdar’s 2023 and 2024 bond issuances were allocated to solar, onshore and offshore wind, and energy storage projects in the United Arab Emirates, Saudi Arabia, the United States, Germany, the United Kingdom, Uzbekistan, Azerbaijan and Serbia, the company said in its 2024 Green Finance Report.

Masdar said the investments would avoid more than 6.28 million tonnes of carbon dioxide emissions annually, equivalent to around 3,700 tonnes for every $1 million invested.

Green Finance Framework Update

In March, Masdar revised its Green Finance Framework to expand eligibility to include green hydrogen and stand-alone battery energy storage systems.

Moody’s Investors Service reaffirmed Masdar’s Sustainability Quality Score at “SQS1  or Excellent,” verifying alignment with international standards such as the International Capital Market Association’s Green Bond Principles.

“The strategy is underpinned by disciplined capital allocation, robust ESG integration and transparent reporting,” Chief Financial Officer Mazin Khan said in the report.

Strong Market Demand

Masdar’s $1 billion green bond issuance in May 2025 drew demand 6.6 times greater than the offering, with 85 percent allocated to international investors and 15 percent to investors in the Middle East and North Africa. Since launching its program in 2023, the company has raised $2.75 billion in green bonds.

Beyond bonds, Masdar said it secured $6 billion in non-recourse financing in 2024 to develop 11 gigawatts of clean energy capacity across 12 projects in nine countries.

The company said it engaged Ernst & Young to provide limited assurance on the allocation of proceeds and environmental impact metrics in its latest report, underscoring its commitment to transparency in sustainable finance.

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