Acciona, a leader in sustainable infrastructure and renewable energy, has secured €300 million ($326 million) in sustainable financing to fund key projects in the Gulf Cooperation Council (GCC) area.

The financing is structured as a green loan with local impact, aligned with Acciona's Sustainable Impact Financing Framework.

The margin of the financing is linked to a local impact initiative that supports local suppliers in developing and producing lower or zero-carbon building materials.

The proceeds will be allocated to projects contributing to climate change mitigation and environmental conservation, aligned with the EU Green Taxonomy.

Acciona's leadership in the sustainable finance market is demonstrated by its successful history of raising capital for environmentally beneficial projects.

The company has issued its first green bond in 2016 and closed the first half of its 2024 financial year with 80% of its corporate debt in sustainable financing structures.

José Ángel Tejero, Chief Financial and Sustainability Officer of Acciona: "This new financing underscores Acciona's strength in diversifying its funding sources while reaffirming our commitment to leading the development of low-carbon solutions in the GCC. We appreciate the support of the banks involved in this transaction and we are proud to deliver the region’s first Green Loan with Local Impact financing. Our goal is to continue integrating sustainable structures into our corporate debt."

First Abu Dhabi Bank and Standard Chartered acted as Green Loan Coordinators, SFI Markets as Arranger of the financing and Dentons as Legal Counsel.

Caroline Eber-Ittel, CEO France and Head of Banking and Coverage Europe at Standard Chartered: "We’re delighted to provide Acciona with this important Green Loan to support the energy transition in Gulf Cooperation Council countries. In our first ever transaction of this kind with a Spanish client, it demonstrates our Iberian strategy to grow in the European sustainable finance space. It is also a reflection of Standard Chartered’s expertise to find opportunities and structured solutions that meet our client’s sustainability ambitions, and our commitment to mobilise $300 billion of sustainable finance by 2030."