ACCIONA, a global company focused on renewable energy and sustainable infrastructure, has secured €300 million in funding to support environmentally friendly projects in the Gulf Cooperation Council (GCC) region. This financing is designed as a “green loan,” meaning it will be used for projects that help reduce carbon emissions and promote sustainability. The money will help local suppliers in the Gulf develop building materials, like cement and steel, that produce little or no carbon emissions. This supports ACCIONA’s goal of making construction more sustainable.
The funding will go to projects that align with the European Union’s standards for green investments. This includes renewable energy, improving energy efficiency, sustainable transportation, and better water management. ACCIONA has been a leader in securing funds for environmentally friendly projects for many years. By mid-2024, 80% of its corporate debt was linked to sustainable financing. The company first issued a green bond in 2016.
José Ángel Tejero, ACCIONA’s Chief Financial and Sustainability Officer, said “this loan highlights the company’s commitment to finding low-carbon solutions in the GCC. The loan was arranged by First Abu Dhabi Bank and Standard Chartered, who helped structure the financing in line with ACCIONA’s sustainability goals”.
ACCIONA has been active in the Middle East since 2008, working on projects like the extension of Dubai’s metro and the construction of desalination plants in the UAE, Qatar, and Saudi Arabia. These projects are part of the company’s efforts to support climate change solutions in the region.
