Over US$1.685 billion in green bond proceeds deployed to renewable energy and storage projects across nine countries.
For every US$1 million invested, around 3,700 tonnes of CO₂ equivalent avoided annually.
Updated Green Finance Framework expands to cover green hydrogen and energy storage, reinforcing investor demand.
Masdar has detailed how it deployed more than US$1.685 billion from its 2023 and 2024 green bond issuances into clean energy projects worldwide, according to its newly released 2024 Green Finance Report.
The proceeds were allocated to new solar, wind, and energy storage projects across markets including the UAE, Saudi Arabia, the United States, Germany, the UK, Uzbekistan, Azerbaijan, and Serbia. Masdar reports that each US$1 million invested avoids roughly 3,700 tonnes of CO₂ emissions annually, bringing total avoided emissions tied to its green bonds to over 6.28 million tonnes per year.
Mazin Khan, Chief Financial Officer at Masdar, 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.”
The company updated its Green Finance Framework in March to broaden eligibility for financing next-generation technologies such as green hydrogen and stand-alone battery storage. Following the update, Moody’s reaffirmed Masdar’s Sustainability Quality score of SQS1 (Excellent), verifying alignment with international standards including the ICMA Green Bond Principles.
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Investor appetite remains strong. Masdar’s US$1 billion green bond issued in May 2025 was oversubscribed 6.6 times, with 85 percent allocated to international investors. This brought the total raised since the program’s 2023 launch to US$2.75 billion.
Beyond its green bonds, Masdar also secured US$6 billion in non-recourse financing last year to develop 11GW of clean energy capacity across 12 projects in nine countries. To ensure transparency, Ernst & Young conducted an independent limited assurance review of Masdar’s 2024 Green Finance Report, covering both allocation of proceeds and impact metrics.
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