Clean energy provider, Masdar has raised $1 billion (£800m) to fund renewable energy projects in developing economies.
The energy company raised the funds through a second round of green bond issuance, a type of investment for green projects.
In its first round, Masdar raised $750 million (£580 million).
Masdar expects to mitigate 5.4 million tonnes of greenhouse gas emissions when the projects become operational.
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said: “Following the successful launch of our first green bond in 2023, our second green bond issuance for $1 billion (£800m) underscores investor confidence in Masdar’s financial robustness and its sustainability credentials.
“The funds will be pivotal in advancing our ambitious portfolio of renewable energy projects, further cementing our role as a key player in supporting an equitable energy transition by increasing energy access in emerging markets and the Global South.”
The funding came from both regional and international investors.
