Masdar issued an additional $1 billion green bond, bringing the total outstanding value of its green bond program to $2.75 billion. The bond was issued in two equal tranches of $500 million with tenors of five and ten years and coupons of 4.875% and 5.375%, respectively. It was oversubscribed, with a peak order book of $6.6 billion. The bond issue received considerable demand from regional and international investors, including dedicated green funds. The bond’s allocation split 85% to global investors and 15% to investors from the Middle East and North Africa region. Proceeds from the bond issuance will be invested exclusively in greenfield renewable energy projects under Masdar’s Green Finance Framework.

Emerge, a joint venture between Masdar and EDF, has entered into an agreement with UAE-based Turbotim to develop a solar plus storage hybrid project at the company’s facilities in Ras Al Khaimah. The project will include a 1.52 MWp rooftop solar system and a 5 MWh battery energy storage system deployed across two identical hybrid projects.  Emerge will provide a full turnkey solution, including the project’s finance, design, procurement, construction, operations, and maintenance, for 20 years.

The Moroccan government and the country’s electricity and water supplier, ONEE, will develop an infrastructure program to secure water and bolster energy production by 2030 for an approximate investment cost of $14 billion. A consortium including Mohammed VI Investment Fund, TAQA Morocco, and Nareva will also be part of the program. The program includes the development of five seawater desalination plants with an annual capacity of 900 million m³, powered entirely by renewable energy. The parties will build a 1,400 km high-voltage direct current line to accelerate the integration of renewable energy from the Sahara into the national grid. The 3,000 MW capacity transmission line will connect Morocco’s southern provinces to its central regions. The program aims to add 1,200 MW of new renewable energy capacity, primarily wind and solar.

The Saudi Power Procurement Company (SPCC) signed an agreement with ACWA Power-led Nabah Renewable Energy, Larsen and Toubro, Jinko Solar, and Neway Energy to boost local content production, empower national manufacturers, and secure a sustainable supply chain.  This project is part of SPPC’s broader initiative to localize renewable energy manufacturing. As part of the agreement, Saudi Arabia’s Ministry of Energy-backed Al-Khushaybi Solar Project, a 1.5 GW project in the country’s Qassim Province, will include 20% locally manufactured solar modules.