Barakah One wins ESG award for AED8.89b green refinancing

Barakah One wins ESG award for AED8.89b green refinancing

ABU DHABI / WAM The AED8.89 billion ($2.42 billion) refinancing of the UAE’s Barakah Nuclear Energy Plant has been selected as the ESG Loan Deal of the Year by the prestigious Bonds, Loans & Sukuk Middle East Awards. Barakah One Company, the financing and commercial subsidiary of the Emirates Nuclear Energy Corporation (ENEC), achieved groundbreaking ...

ABU DHABI / WAM

The AED8.89 billion ($2.42 billion) refinancing of the UAE’s Barakah Nuclear Energy Plant has been selected as the ESG Loan Deal of the Year by the prestigious Bonds, Loans & Sukuk Middle East Awards.

Barakah One Company, the financing and commercial subsidiary of the Emirates Nuclear Energy Corporation (ENEC), achieved groundbreaking refinancing with the participation of two prominent UAE banks, First Abu Dhabi Bank (FAB) and Abu Dhabi Commercial Bank (ADCB).

The refinancing involved a competitive market process of transformation of the loans into green loan financing, with FAB acting as the Senior Green Coordinator and ADCB as the Green Loan Coordinator. The refinancing was the first green loan in the Middle East and North Africa (MENA) region and Asia to be independently recognised as a green loan facility.

Enec is playing a key role in driving the reduction of carbon emissions and decarbonising the