Taqa, Abu Dhabi National Energy Company, has raised $750 million through a five-year Blue Bond to finance sustainable water and wastewater management projects, marking several regional and global milestones.

The issuance is the first Blue Bond by a government-related entity (GRE) in the GCC, the largest Blue Bond issued by an integrated power and water utility worldwide, and the largest Blue Bond ever issued in the Europe, Middle East and Africa (EMEA) region.

Issued through a private placement with Standard Chartered Bank acting as sole placement agent, the bond attracted strong demand from international investors.

It carries a 5.125% coupon, is listed on the London Stock Exchange's International Securities Market, and is rated Aa3 by Moody's and AA by Fitch, in line with Taqa's corporate credit ratings.

The transaction is the first Blue Bond issued under Taqa's updated Green and Blue Finance Framework, which now includes Blue financing instruments as well as projects related to green grids and climate change adaptation.

 Proceeds will be used to finance or refinance eligible sustainable water projects.

With the latest issuance, Taqa has raised $2.6 billion through Green and Blue labelled bonds since launching its Green Finance Framework in 2023.

The company has also invested nearly $10 billion in energy transition projects through the end of 2025 under its 2030 Vision for Sustainable and Profitable Growth.

Jasim Thabet, Group Chief Executive Officer and Managing Director, Taqa, said: “Water scarcity is one of the defining challenges of our time, and it remains underfunded relative to its importance. As a vertically integrated power and water utility operating in one of the world's most water-stressed regions, Taqa is investing across the water value chain. This includes desalination, water transmission and distribution, wastewater treatment and reuse, helping address growing pressures on water systems.”

Thabet added:“This issuance marks an important milestone for Taqa and is aligned with Abu Dhabi’s Integrated Water Sector Strategy and Climate Change Adaptation Plan. The strong investor demand for the transaction reflects confidence in Taqa’s long-term strategy, our financial strength and the essential nature of the infrastructure we develop and operate. As demand continues to increase, we remain focused on developing reliable and sustainable solutions that will support water security for decades to come.” -OGN/TradeArabia News Service