Global Infrastructure SherpaTAQA, EWEC, Masdar, EDF Power Solutions, And Jinko Power Complete $870.75M Green Bond
USD870.8M
Deal Value
operating
Stage
Al Dhafra Solar Photovoltaic Independent Power Plant
Project
TAQA, EWEC, Masdar, EDF Power Solutions, and Jinko Power have completed a $870.75 million green bond for the Al Dhafra Solar Photovoltaic Independent Power Plant. The bond has a coupon of 5.794% and matures in June 2053. The proceeds will be used to refinance the plant's existing debt obligations.
Get daily solar deal alerts — free, no spam.
Counterparts (11)
Lender
Standard Chartered Bank
Standard Chartered is a global bank connecting corporate, institutional and affluent clients to a network that offers access to sustainable growth opportunities across Asia, Africa and the Middle East. They combine cross-border capabilities with wealth management expertise.
SMBC
SMBC Group is committed to the growth of its clients, the development of its people, and the advancement of society. They aim to promote a better and safer world for all, supporting business development of clients around the world.
HSBC
HSBC is one of the world’s largest banking and financial services organisations. Their strategy supports their ambition to be the most trusted bank globally, putting customers at the heart of everything they do. They are focused on long-term, sustainable growth, focused on areas of their competitive strengths.
Credit Agricole CIB
Credit Agricole CIB acted as a lender in one verified deal: the $870.75M green bond financing for a solar project in the United Arab Emirates. This single deal highlights their activity as a lender in the renewable energy sector, specifically solar, within the UAE.
BNP Paribas
BNP Paribas is a global financial institution that provides financing and investment solutions across various sectors, including renewable energy. They support the development and deployment of renewable energy projects through project finance, advisory services, and capital markets solutions.
MUFG
Mitsubishi UFJ Financial Group (MUFG) is a global financial group. They provide financial services, including banking, trust banking, and securities, and are involved in sustainability initiatives, including financing for projects that contribute to a carbon-neutral society.
Developer
TAQA
TAQA is a company in the renewables industry. The website requires Javascript to be enabled to view content.
EWEC
Emirates Water and Electricity Company (EWEC) is the sole procurer of water and power within the Emirate of Abu Dhabi and beyond. EWEC drives the planning, forecasting, purchasing, and system despatch services of water and electricity.
Jinko Power
Jinko Power Technology Co., Ltd. is a clean energy supplier and service provider focusing on power station development, power station services, and energy services. Their activities include photovoltaic power generation project investment, development, operation, power station asset management and transfer transactions, EPC contracting, intelligent power station operation and maintenance, distributed energy contract management, incremental distribution networks, power sales, green power supply for parks, and comprehensive energy services.
EDF Power Solutions
EDF Power Solutions provides energy solutions to businesses. They offer services related to energy efficiency, renewable energy, and energy management.
Masdar
Masdar is a clean energy pioneer positioning the UAE at the forefront of the worldwide energy transition. They deploy renewable energy projects and realize low-carbon urban development, supporting over 40 countries in their energy transition.
Sign up free to access full counterpart details, deal analysis, and timeline.
Sign up free →Deal Analysis
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.
- Sizeable $870.75 million green bond issuance.
- Involves a consortium of major players: TAQA, EWEC, Masdar, EDF Power Solutions, and Jinko Power.
- Refinances an existing, operating solar power plant (Al Dhafra), indicating project maturity.
- Attracts a diverse group of international lenders, including BNP Paribas, HSBC, and MUFG.
Timeline
Announced
Jan 16, 2026
Signed
Closed
Jan 16, 2026
Get the full picture — timeline, source intelligence, and counterpart analysis.
Sign up free →