UAE renewables giant Masdar is looking to issue a USD 500-700 mn maiden green bond this month, Bloomberg reported on Friday, citing comments by Masdar CEO Mohamed Al Ramahi. Details on advisors or a solid timeline have not been disclosed, but the company is eyeing the US market for the issuance, according to Bloomberg.

Big plans: Masdar has assets in upward of 40 countries with a combined renewables capacity of 15 GW and USD 20 bn in investments — aiming to reach 100 GW capacity by 2030. “You can’t achieve that target with just one approach to market,” Al Ramahi said, adding that Masdar is actively pursuing several agreements. The US is a top priority for investment, while Masdar hasn’t yet found good potential projects in China, Bloomberg quotes Al Ramahi as saying at a presser in his most recent visit to Kazakhstan.

Masdar already has a footing in the US: Back in 2020, Masdar and EDF Renewables North America signed an agreement to jointly co-develop eight US-based renewables plants that would have a combined 1.6 GW production volume. These include three wind farms in Nebraska yielding a combined 815 MW, and five solar farms, including a 128 MW solar plant in which Masdar acquired a 50% stake in April, which collectively generate some 690 MW of clean energy. All of the renewables ventures in which Masdar is partnering with EDF in the US are already operational.