TAQA Prices $1.75B Bond Sale With Green Tranche for Grid and Renewables
The Abu Dhabi utility split the deal into $1.1 billion of five-year green notes and $650 million of 10-year conventional debt, drawing orders more than three times the sale size.
Abu Dhabi National Energy Company, known as TAQA, has priced a two-part bond sale worth $1.75 billion, split between green notes and conventional debt, with the larger slice earmarked for renewable generation and grid work.
The green tranche totals $1.1 billion, carries a 5.875% coupon and falls due on April 26, 2032. The $650 million conventional tranche pays 6.125% and matures on October 26, 2036. Proceeds from the conventional notes are for general corporate purposes.
Orders from investors in the UAE, the wider region and abroad ran to more than three times the size of the deal. TAQA said it was the first publicly marketed benchmark from an Abu Dhabi government-related entity since March 2026, and that the response showed buyers still want top-tier Abu Dhabi credit.
The green notes are issued under TAQA's Green and Blue Finance Framework, which allows spending on network infrastructure as well as renewable assets. The money will fund or refinance qualifying renewable generation and green grid projects.
Jasim Husain Thabet, TAQA's group chief executive and managing director, said renewable power generates value only when networks can carry it to the households and businesses that need it. He said disciplined capital management and a strong balance sheet give the company competitive access to funding and the flexibility to invest in resilient grids, renewables and sustainable water.
Both tranches support TAQA's 2030 Vision for Sustainable and Profitable Growth. The company invested close to $10 billion in energy transition projects between 2021 and 2025.
The pricing follows a $750 million Blue Bond sold in July 2026, the largest such bond from an integrated power and water utility globally and the biggest ever issued in EMEA. Once the new deal settles, TAQA will have raised $3.7 billion through Green and Blue labelled bonds since 2023, $1.85 billion of it this year.
TAQA placed second in a 2026 ranking of the UAE's 10 most valuable listed companies and fourth in a ranking of the region's 100 most valuable companies. Thabet topped the energy and utilities category of a sustainability leaders list for 2026.
Grid capacity decides how quickly new renewable projects turn into power that reaches customers, and treating network infrastructure as eligible spending lets TAQA borrow against transmission and distribution work rather than generation assets alone. For a utility of its size, that widens what the green label can cover.
