Saudi Press

Saudi Arabia and the world
Sunday, Jul 06, 2025

Abu Dhabi solar firm Sweihan gets $701 mln via green bonds, slightly less than hoped

Abu Dhabi solar firm Sweihan gets $701 mln via green bonds, slightly less than hoped

Abu Dhabi solar energy firm Sweihan PV Power Company sold $700.8 million in amortising green bonds at 3.625% on Thursday, slightly less than it was targeting on a turbulent day for global debt markets, a bank document showed.
The company was seeking to raise around $728 million, several bank documents showed. An investor presentation earlier this week said the deal could be between $710 million and $750 million.

Global debt markets have been rattled by the Federal Reserve's sudden shift towards a faster run of interest rate hikes and stimulus withdrawal. Borrowing costs have shot up as a result and investors have become more reluctant to lend to companies until they know how much further they could still rise this year.

The yield on Sweihan's green bonds was tightened from initial price guidance of around 3.875% after the debt sale drew roughly $1.6 billion in orders.

A bank document earlier on Thursday showed investors will receive semi-annual payments starting July 31 and the bonds, which will fund spending linked to the Noor Abu Dhabi solar plant, will likely have a weighted average life of 15 years.

Citi (C.N) is lead global coordinator on the debt issue, while HSBC (HSBA.L) and MUFG (8306.T) join it as joint global coordinators.

BNP Paribas (BNPP.PA), First Abu Dhabi Bank (FAB.AD) and SMBC Nikko (8316.T) are joint lead managers and bookrunners.

Sweihan is 60% owned by Abu Dhabi's TAQA (TAQA.AD), while Japan's Marubeni Corp and China's JinkoSolar own 20% each. TAQA is 98.6% owned by the Abu Dhabi government.
The debt issue was billed as a "rare certified green bond offering out of the region" in the investor presentation, which said the project will have saved 9 million metric tons of carbon dioxide from being emitted between 2020 and 2030.

Noor Abu Dhabi generates 881 megawatts of alternating current, which is sold to state-owned Emirates Water & Electricity Company (EWEC) under a power purchase agreement that concludes in 2049. EWEC is fully owned by Abu Dhabi state-owned holding company ADQ.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Russia Formally Recognizes Taliban Government in Afghanistan
Mediators Edge Closer to Israel-Hamas Ceasefire Agreement
Emirates Airline Expands Market Share with New $20 Million Campaign
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
China Unveils Miniature Insect-Like Surveillance Drone
Marc Marquez Claims Victory at Dutch Grand Prix Amidst Family Misfortune
Iran Executes Alleged Israeli Spies and Arrests Hundreds Amid Post-War Crackdown
Trump Asserts Readiness for Further Strikes on Iran Amid Nuclear Tensions
Iran's Parliament Votes to Suspend Cooperation with Nuclear Watchdog
Trump Announces Upcoming US-Iran Meeting Amid Controversial Airstrikes
Trump Moves to Reshape Middle East Following Israel-Iran Conflict
NATO Leaders Endorse Plan for Increased Defence Spending
U.S. Crude Oil Prices Drop Below $65 Amid Market Volatility
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Oman Set to Introduce Personal Income Tax, First in Gulf
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Iran Intensifies Crackdown on Alleged Mossad Operatives After Sabotage Claims
Trump Praises Iran’s ‘Very Weak’ Response After U.S. Strikes and Presses Israel to Pursue Peace
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
G7 Leaders Fail to Reach Consensus on Key Global Issues
Mass exodus in Tehran as millions try to flee following Trump’s evacuation order
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Netanyahu Signals Potential Regime Change in Iran
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
Iran Conducts Ballistic Missile Launches Amid Heightened Tensions with Israel
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
Trump's Anti-War Stance Tested Amid Israel-Iran Conflict
×