Acciona to support decarbonization in the GCC with EUR 300 mn

Acciona to fund decarbonization projects in GCC: Spanish renewables and infrastructure company Acciona has secured EUR 300 mn in funding to support decarbonization and sustainable growth in the GCC, according to a statement published last week. The statement did not disclose the specifics of the projects or their exact location.

Where is the money going? The green loan — linked to a local initiative supporting local suppliers in developing lower or zero-carbon building materials — will be allocated to climate change mitigation and environmental conservation projects, including renewable energy, energy efficiency programs, sustainable mobility, and sustainable water management.

Accionia is no stranger to the UAE: The company previously worked on the extension of the Dubai metro in 2020, and the construction of the Jebel Ali desalination plant — one of the largest reverse osmosis desalination plants in the UAE.

ADVISORS- The green loan coordinators were First Abu Dhabi Bank and Standard Chartered, with SFI Markets as the arranger and Dentons as legal counsel.