Masdar has directed more than $1.5 billion from its green bond issuances toward renewable energy projects globally by the end of 2024, the UAE-based clean energy company said in its latest Green Finance Report.
The funds have supported solar, onshore and offshore wind, and energy storage developments in the United Arab Emirates, Saudi Arabia, the United States, Germany, the United Kingdom, and emerging markets such as Uzbekistan, Azerbaijan and Serbia.
According to Masdar, the investments are expected to help avoid more than 6.28 million tonnes of carbon dioxide emissions annually—equivalent to approximately 3,700 tonnes per $1 million invested.
“Masdar’s green finance strategy is underpinned by disciplined capital allocation, robust ESG integration and transparent reporting,” said Mazin Khan, the company’s chief financial officer. “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.”
In March 2025, Masdar expanded its Green Finance Framework to include green hydrogen and stand-alone battery storage projects. The updated framework was reviewed by Moody’s, which confirmed its alignment with international best practices.
Masdar’s most recent green bond issuance in May 2025 raised $1 billion and was 6.6 times oversubscribed. Since 2023, the company has raised a total of $2.75 billion through its green bond programme.
The bond proceeds complement Masdar’s broader financing activities, which included $6 billion in non-recourse project financing in 2024 to support the development of 11 gigawatts of clean energy across 12 projects in nine countries.
The company also confirmed that Ernst & Young provided a limited assurance review of its 2024 Green Finance Report, covering both the allocation of proceeds and the reported environmental impact.
