Abu Dhabi National Energy Company PJSC (“TAQA” or the “Group”), recognized as one of the largest integrated utilities firms across Europe, the Middle East, and Africa, has today revealed the successful issuance of a USD 750 million Blue Bond aimed at financing sustainable water and wastewater management initiatives. This issuance represents the largest Blue Bond ever released by an integrated power and water utility worldwide and the most significant Blue Bond issued in the EMEA region to date.
The five-year bond was placed privately with Standard Chartered Bank acting as the Sole Placement Agent, attracting robust interest from global investors. The notes feature a coupon rate of 5.125%, are listed on the International Securities Market of the London Stock Exchange and hold a credit rating of Aa3 from Moody’s and AA from Fitch, consistent with TAQA’s corporate credit rating.
This transaction marks the inaugural Blue Bond issuance under TAQA’s Green and Blue Finance Framework, which was revised earlier this year to encompass Blue financing instruments along with additional categories pertaining to green grid initiatives and climate change adaptation. Moody’s offered a Second Party Opinion on the Framework, assigning it a Sustainability Quality Score of SQS2 (Very Good). The net proceeds from the bond will be allocated to finance or refinance eligible Blue projects aligned with the Framework.
To date, TAQA has issued a total of USD 2.6 billion in Green and Blue labeled bonds following the introduction of its Green Finance Framework in 2023. Since the unveiling of its 2030 Vision for Sustainable and Profitable Growth in 2021, TAQA has invested nearly USD 10 billion by the end of 2025 in energy transition projects within the utility sector.
Jasim Husain Thabet, Group Chief Executive Officer and Managing Director of TAQA, remarked: “Water scarcity is one of the pivotal challenges of our era and remains underfunded relative to its significance. As a vertically integrated power and water utility functioning in one of the world’s most water-scarce regions, TAQA is making investments throughout the water value chain. This encompasses desalination, water transmission and distribution, as well as wastewater treatment and reuse, all aimed at mitigating the increasing pressures on water systems.
“This issuance signifies a key milestone for TAQA and aligns with Abu Dhabi’s Integrated Water Sector Strategy and Climate Change Adaptation Plan. The strong demand from investors for this transaction reflects confidence in TAQA’s long-term vision, our financial robustness, and the critical nature of the infrastructure we develop and manage. As demand continues to rise, we remain committed to creating reliable and sustainable solutions that will ensure water security for future generations.”
With sustainability at the core of its Corporate Strategy, TAQA persists in making substantial investments in low-carbon power, sustainable water solutions, and resilient infrastructure, thus facilitating the energy transition while providing secure and reliable power and water services to millions of customers.
Source: TAQA
