Barakah Plant $2.42bn refinancing recognized as Green Loan Facility

Barakah Plant $2.42bn refinancing recognized as Green Loan Facility

Barakah Nuclear Energy Plant project’s AED8.89 billion ($2.42 billion) refinancing, announced in 2023, has now been recognized as a Green Loan Facility. This important classification underscores nuclear energy’s major contribution to powering the UAE’s green economy and energy transition strategy through clean, carbon emissions-free electricity. Through the Barakah Plant, the Emirates Nuclear Energy Corporation (ENEC) […]Barakah Nuclear Energy Plant project’s AED8.89 billion ($2.42 billion) refinancing, announced in 2023, has now been recognized as a Green Loan Facility.

This important classification underscores nuclear energy’s major contribution to powering the UAE’s green economy and energy transition strategy through clean, carbon emissions-free electricity.

Through the Barakah Plant, the Emirates Nuclear Energy Corporation (ENEC) is spearheading the decarbonization of the UAE’s energy-intensive and heavy industries now to accelerate the nation in reaching the goal of Net Zero by 2050.

The Barakah plant, when fully operational, forecasted for later in 2024, will generate 40 terawatt-hours (TWh) of electricity per year while simultaneously preventing the release of 22.4 million tons of carbon emissions.

Mohamed Ibrahim Al HammadiMD & CEO – ENEC

“The recognition of the Barakah refinancing as meeting Green Loan status requirements firmly establishes nuclear energy’s role in the clean energy transition. We are breaking new ground as one of