![Stock-Masdar](https://imagevars.gulfnews.com/2022/11/21/Stock-Masdar_184992f05d2_medium.jpg)
Abu Dhabi's clean-energy firm Masdar plans to sell dollar-denominated green bonds in two tranches, its second such deal as it looks to raise funds for expansion.
The renewable-power company plans to offer five and 10-year green bonds, according to a person familiar with the matter, who asked not to be identified. It has appointed banks, and will hold a call and in-person meetings with potential investors in London on Wednesday.
read more
The company, also known as Abu Dhabi Future Energy Co., had previously said it intended to issue as much as $1 billion of green bonds this year. Masdar completed its debut sale of $750 million of green bonds in 2023 and said at the time that it may raise as much as $3 billion to help fund a global expansion plan. It's targeting stakes in 100 gigawatts of clean projects by 2030.
Abu Dhabi government-owned company Taqa owns 43 per cent of Masdar, Mubadala has 33 per cent and oil producer Adnoc 24 per cent.
Abu Dhabi Commercial Bank PJSC, Citigroup Inc, Credit Agricole SA, First Abu Dhabi Bank PJSC, HSBC Holdings Plc, Mitsubishi UFJ Financial Group Inc, Natixis SA and Standard Chartered Bank have been appointed as joint lead managers and joint bookrunners.