ACCIONA, a worldwide leader in sustainable infrastructure and renewable energy, has obtained a new sustainable financing package of €300 million to support significant projects aimed at lowering carbon emissions and promoting sustainable development within the Gulf Cooperation Council (GCC) region.
This financing is organized as a green loan with a local impact focus, in accordance with ACCIONA’s Sustainable Impact Financing Framework. The loan’s margin is connected to a local initiative designed to enhance sustainable construction by aiding local suppliers in the development and production of low or zero-carbon building materials, including cement, steel, and concrete.
This financing reflects ACCIONA’s dedication to fostering environmentally responsible investment practices. The funds will be directed toward projects that aid in climate change mitigation and environmental preservation, adhering to the EU Green Taxonomy, which encompasses renewable energy, energy efficiency initiatives, sustainable mobility, and sustainable water management projects, among others.
This transaction further highlights ACCIONA’s leadership in the sustainable finance arena. With a proven track record of securing capital for environmentally beneficial initiatives, ACCIONA has successfully attracted a diverse range of investors focused on aligning their financial goals with sustainable outcomes.
ACCIONA launched its first green bond in 2016 and concluded the first half of its 2024 financial year with 80% of its corporate debt structured in sustainable financing.
José Ángel Tejero, Chief Financial and Sustainability Officer at ACCIONA, stated: “This new financing emphasizes ACCIONA’s ability to diversify its funding sources while reinforcing our commitment to advancing low-carbon solutions in the GCC. We are grateful for the support from the banks involved in this transaction and are proud to introduce the region’s first Green Loan with Local Impact financing. Our objective is to continue incorporating sustainable structures into our corporate debt.”
First Abu Dhabi Bank and Standard Chartered served as Green Loan Coordinators, SFI Markets acted as the financing arranger, and Dentons provided legal counsel.
Caroline Eber-Ittel, CEO for France and Head of Banking and Coverage Europe at Standard Chartered, remarked: “We are thrilled to offer ACCIONA this significant Green Loan to facilitate the energy transition in GCC countries. This marks our first transaction of this nature with a Spanish client, showcasing our Iberian strategy to expand in the European sustainable finance sector. It also reflects Standard Chartered’s capability to identify opportunities and structured solutions that align with our client’s sustainability goals, as well as our commitment to mobilizing US$300 billion in sustainable finance by 2030.”
Source :ACCIONA
