Masdar channelled more than one-and-a-half-billion dollars from its green bond issuances into clean energy projects by the end of 2024, according to its latest Green Finance Report.
The proceeds supported new solar, onshore and offshore wind, and energy storage developments across the UAE, Saudi Arabia, the US, Germany and the UK, as well as emerging markets including Uzbekistan, Azerbaijan and Serbia.
Masdar said the investments will help avoid over 6.28m tonnes of CO2 annually, equivalent to around 3700 tonnes per US$1m invested.
Chief financial officer Mazin Khan said: “Masdar’s green finance strategy is underpinned by disciplined capital allocation, robust ESG integration and transparent reporting. We are proud to deploy bond proceeds towards greenfield projects under strict criteria, enabling clean energy progress while maintaining a high level of financial efficiency and investor confidence.”
In March 2025, the company updated its Green Finance Framework to cover green hydrogen and stand-alone battery storage, which Moody’s confirmed as aligned with global best practices.
Masdar’s May 2025 US$1bn green bond was 6.6 times oversubscribed, bringing the total raised since 2023 to US$2.75bn.
The green bond programme complements wider financing activity, including US$6bn in non-recourse facilities last year to deliver 11GW of clean energy across 12 projects in nine countries.
Masdar added that Ernst & Young carried out a limited assurance review of the 2024 Green Finance Report’s allocation of proceeds and impact metrics.