TAQA, EWEC, Masdar, EDF Power Solutions, And Jinko Power Complete $870.75M Green Bond

TAQA, EWEC, Masdar, EDF Power Solutions, and Jinko Power's successful completion of an $870.75 million green bond to refinance the Al Dhafra Solar Photovoltaic Independent Power Plant represents a significant milestone in the project's lifecycle and demonstrates continued investor confidence in large-scale solar projects in the Middle East. The bond, maturing in June 2053 with a coupon of 5.794%, signals the project's long-term financial viability and its alignment with sustainable investment principles. The involvement of a consortium of prominent international lenders, including BNP Paribas, HSBC, Credit Agricole CIB, MUFG, Standard Chartered Bank, and SMBC, further underscores the project's credibility and attractiveness to global financial institutions. This transaction is notable for its size, the high-profile consortium of developers and lenders involved, and its focus on refinancing an already operational solar power plant. The use of a green bond specifically earmarks the proceeds for environmentally beneficial projects, attracting investors with ESG mandates. The deal also highlights the increasing maturity of the renewable energy market in the UAE, where projects are moving beyond initial development and construction phases into long-term operation and refinancing. This trend is likely to continue as the region pursues ambitious renewable energy targets.