, Online Press Release from Abu Dhabi and Al Ain
Business, Banking and Investments(Banking & Investments)
Filter PR by
Abu Dhabi Securities Exchange Announces the Secondary Listing of Sweihan PV Power Company's Green Bond
Abu Dhabi Securities Exchange Announces the Secondary Listing of Sweihan PV Power Company's Green Bond

Abu Dhabi, UAE – 12 May 2022: Abu Dhabi Securities Exchange (ADX) has announced the secondary bond listing of US$700 million of fixed-rate amortising senior secured green bonds, marking the first green bond to be listed on the exchange. The bonds were issued by Sweihan PV Power Company (SPPC), the project company that built, owns and operates Noor Abu Dhabi, one of the world’s largest single site solar projects. 

The secondary listing represents the first green bond listed on ADX and takes the total number of debt instruments listed on ADX to 28 as the exchange continues to execute on its ‘ADX One’ strategy of attracting new listings and innovative product offerings to its growing and dynamic platform. 

Commanding the listing, HE Eng. Ahmed Al Rumaithi, Undersecretary of Abu Dhabi Department of Energy (DoE), said: “The listing of the first green bonds by Sweihan PV Power Company comes in line with the UAE vision for the next fifty years and its continuous efforts to drive sustainable economic growth and the country’s net zero by 2050 initiative. It is a strategic step towards establishing Abu Dhabi as both a sustainable finance and a green bond hub. With sustainability a top priority for DoE, we are committed to supporting green bond initiatives and providing a fit regulatory framework in collaboration with all stakeholders in order to ensure green financing and refinancing options are available for Abu Dhabi’s sustainable projects.”

Saeed Hamad Al Dhaheri, Managing Director and Chief Executive Officer of Abu Dhabi Securities Exchange commented: “The listing of Sweihan PV Power Company’s green bond reflects ADX’s sustained ability to create a dynamic debt capital market ecosystem. With ESG growing in prominence across the region and green bonds being at the forefront of product innovation in this space, we welcome and celebrate this historic milestone of ADX’s first green bond listing.”

Jasim Husain Thabet, TAQA’s Group Chief Executive Officer and Managing Director, commented: “The growing appetite for green investment opportunities and the availability of capital for green projects is increasingly important in supporting the UAE to achieve net zero objectives for 2050. Noor Abu Dhabi’s secondary listing on the ADX opens the door for local investment as the first green bond to be listed in Abu Dhabi and further supports TAQA’s strategy toward sustainable growth and returns.”

Othman Al Ali, Chief Executive Officer of Emirates Water and Electricity Company (EWEC) the procurer for Noor Abu Dhabi, said: “The ADX listing for Sweihan PV Power Company is another milestone in the history of Noor Abu Dhabi. Since EWEC began developing Noor Abu Dhabi in 2015 we have continually looked to work with our partners to innovatively structure the finances of Abu Dhabi’s world leading energy projects, and this listing showcases the competitive and ground-breaking green funding arrangement that sets the example for all future solar PV projects to follow. We congratulate Sweihan PV Power Company on their ADX listing.”

Abdulla Salem AlKayoumi, Chief Executive Officer of Sweihan PV Power Company added: “This latest milestone represents the financial and operational strength of Noor Abu Dhabi, which continues to set industry standards for the UAE and wider region. We are proud to list our green bond closer to home on ADX and further to contribute to Abu Dhabi’s clean energy ambitions”.

Noor Abu Dhabi recently completed three years of successful commercial operations. The plant has 1.2 gigawatts of direct current power generation capacity – the equivalent of supplying more than 90,000 households while reducing CO2 emissions by 1 million metric tons annually. Noor Abu Dhabi is 60% owned by Abu Dhabi National Energy Company (TAQA Group) with the remaining 40% owned by Marubeni Corporation and JinkoSolar.

Posted by : Abu Dhabi and Al Ain PR Network Editorial Team
Viewed 309 times
PR Category : Banking & Investments
Posted on : Friday, May 13, 2022  10:20:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of
Previous Story : Alpha Dhabi to Invest AED 9.2 billion in Landmark ‘Alpha Wav...
Next Story : ADC Acquisition Corporation, UAE's first SPAC, to open IPO S...
Email this article Print this article

Share this article with your friends and followers
Back to Section Home

Related Stories

Most Viewed Press Release posted in the last 7 days
Awaken your Senses this Summer with Olay's White Strawberry & Mint Body Wash [7880-Views]
PANDORA ME – Festival Mode [5883-Views]
Gifts for Every Occasion with Pandora [5467-Views]
My Summer Story with Pandora [4758-Views]
Ogilvy Promotes Elaine Grell to Chief People Officer across EMEA [3104-Views]
Mehmet Tevfik Nane New Chair of the IATA Board [2444-Views]
Sail through the Summer Season with belif [1950-Views]
Aviation Leaders Assemble in Doha for IATA's 78th AGM [1857-Views]
Disney X Pandora: Born to Stand Out [1831-Views]
Travel Recovery Rebuilding Airline Profitability -Resilient Industry Cuts Losses to $9.7 billion [1636-Views]
BCC Group International Announces Diversification into Property Development [1559-Views]
The Grandest Celebration of Indian Cinema - the 22nd Edition of IIFA Weekend and Awards 2022 Kicksta... [1520-Views]
NLT Establishes #1 Turnkey Trucking Program With Proven Success For Investors [1134-Views]
Mohammed bin Rashid Al Maktoum Knowledge Foundation participates in the 31st edition of Abu Dhabi In... [815-Views]
Mohammed bin Rashid Al Maktoum Knowledge Foundation highlights cognitive shifts and the role of geos... [797-Views]
Al Masaood Automobiles Unveils Revamped Al Ain Facility Adopting Nissan Retail Concept [774-Views]
Ministry of Economy reviews Implementing Regulation of the Rules & Certificates of Origin Law [737-Views]
Al Masaood Automobiles - Nissan Joins Global Automotive Experts at Abu Dhabi's Electric Vehicle Inno... [720-Views]
Mohammed bin Rashid Al Maktoum Knowledge Foundation organizes various knowledge events at Abu Dhabi ... [683-Views]
UAE delegation champions multilateral trade at WTO Ministerial Conference in Geneva [651-Views]
RSS Facebook Twitter LinkedDin on Instagram
Top Sections
Top Stories