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The transaction highlights ACCIONA’s leadership in the sustainable finance market.
ACCIONA, a global leader in sustainable infrastructure and renewable energy, has secured €300 million in new sustainable financing to support projects aimed at reducing carbon emissions and promoting sustainable growth in the Gulf Cooperation Council (GCC) region.
This financing is structured as a green loan that focuses on local impact and aligns with ACCIONA’s Sustainable Impact Financing Framework. The loan’s terms are linked to an initiative designed to enhance sustainable construction by assisting local suppliers in developing lower- or zero-carbon building materials, such as cement, steel, and concrete.
This funding reinforces ACCIONA’s commitment to environmentally responsible investment practices, with proceeds directed toward projects that contribute to climate change mitigation and environmental conservation. These initiatives will comply with the EU Green Taxonomy and encompass areas like renewable energy, energy efficiency, sustainable mobility, and water management.
The transaction highlights ACCIONA’s leadership in the sustainable finance market. With a strong track record of raising capital for environmentally beneficial projects, ACCIONA has successfully attracted a diverse range of investors focused on achieving sustainable outcomes. Since issuing its first green bond in 2016, the company has closed the first half of 2024 with 80% of its corporate debt in sustainable financing structures.
José Ángel Tejero, ACCIONA’s Chief Financial and Sustainability Officer, stated, “This new financing highlights our ability to diversify funding sources while reaffirming our commitment to advancing low-carbon solutions in the GCC. We are grateful for the support from the banks involved in this transaction and proud to deliver the region’s first Green Loan with Local Impact financing. Our aim is to continue integrating sustainable practices into our corporate debt.”
First Abu Dhabi Bank and Standard Chartered served as Green Loan Coordinators, while SFI Markets arranged the financing and Dentons provided legal counsel. Caroline Eber-Ittel, CEO of Standard Chartered in France and Head of Banking and Coverage in Europe, expressed excitement about supporting ACCIONA with this significant Green Loan, emphasising its role in facilitating the energy transition in GCC countries. She noted that this transaction aligns with Standard Chartered’s strategy to expand in the European sustainable finance market and its goal of mobilising $300 billion in sustainable finance by 2030. |
