Going Green

Abu Dhabi’s Masdar plans to sell more green bonds in expansion push

The move follows previous statements that the alternative energy company would issue as much as $1 billion worth of green bonds this year

A large-scale solar installation stands near the Masdar City sustainable urban development project in Abu Dhabi. (Photo: Getty Images)

Abu Dhabi alternative energy firm Masdar plans to sell more dollar-denominated green bonds as it forges on with global expansion plans.

The renewable-power company plans to offer five and 10-year green bonds in two tranches, Bloomberg reports.

Green bonds are a kind of fixed-income product used to fund projects that have positive environmental benefits.

The move follows up on $750 million worth of green bonds the company sold last year and statements that it would issue as much as $1 billion worth of green bonds this year.

The firm, which counts Taqa, Mubadala and ADNOC as owners, is targeting stakes in 100 gigawatts of clean projects by 2030 including a big push into the U.S.