UAE Masdar issues green bond for financing of solar power plant in Azerbaijan

Abu Dhabi state-owned renewable energy firm Masdar raised $750 million with debut green bonds on Tuesday, which will repay two $250 million bridge loans for a 200 MW solar PV project in Azerbaijan and a 500 MW offshore wind project in Uzbekistan, its chief financial officer Niall Hannigan said, Report informs, citing Reuters.

The remaining $250 million will go to three solar projects in Uzbekistan that will reach financial close soon.

"We plan to grow significantly in the North American market, in the U.S.," Niall Hannigan said. “It is very much a market where M&A is going to be absolutely critical. Masdar is in discussions with potential acquisition targets in the U.S. and is also looking to expand in Europe, Gulf Arab countries, and elsewhere. Central Asia, Asia-Pacific, and Africa are also areas for future growth."