ACCIONA secures EUR300m green loan to support GCC projects

Image: ACCIONA

Global infrastructure and renewable energy leader ACCIONA has secured EUR300m in sustainable financing to support its projects in the Gulf Cooperation Council (GCC) region.

The green loan, structured with a local impact component, aims to promote sustainable construction practices in the GCC by supporting local suppliers in developing lower-carbon building materials.

The financing aligns with ACCIONA’s Sustainable Impact Financing Framework and will be allocated to projects that contribute to climate change mitigation and environmental conservation.

José Ángel Tejero, chief financial and sustainability officer of ACCIONA, emphasised the company’s commitment to sustainable development in the region. “This new financing demonstrates our dedication to leading the development of low-carbon solutions in the GCC,” he said. “We are proud to deliver the region’s first green loan with local impact financing.”

The transaction was facilitated by First Abu Dhabi Bank and Standard Chartered as green loan coordinators, SFI Markets as the arranger, and Dentons as the legal counsel.

Caroline Eber-Ittel, Standard Chartered’s CEO of France and head of Banking and Coverage for Europe, highlighted the significance of the loan in supporting the energy transition in the GCC.

“This transaction demonstrates our expertise in finding sustainable finance solutions that meet our clients’ ambitions and our commitment to mobilising significant capital for sustainable projects,” she said.

ACCIONA’s strong presence in the Middle East includes projects in the UAE, Saudi Arabia, Qatar, and Oman. The company has been involved in various infrastructure projects, including metro extensions, desalination plants and cultural museums.