The deal to refinance the Barakah nuclear power plants – worth 8.89 billion UAE dirhams ($2.42 billion) – won the “Best Green Finance Deal” award for the year 2024, at the “Middle East Bonds, Loans and Sukuks” awards.

This award is an important recognition of the pioneering role of Barakah plants in advancing green finance and promoting sustainability in the region, and it also contributes to strengthening the position of the United Arab Emirates as a leader in the field of clean energy and green finance.
This award is an incentive for the Corporation to continue its efforts in developing safe and sustainable nuclear energy projects that contribute to achieving the sustainable development goals in the country.

This award confirms the excellence and innovation of the Barakah Nuclear Power Plant, and is a strong testimony to the UAE's commitment to developing clean and sustainable energy sources.

The deal to refinance the Barakah nuclear power plants was the first of its kind in the Middle East, North Africa and Asia. Existing loans were converted into green financing through a competitive market process.

First Abu Dhabi Bank and Abu Dhabi Commercial Bank played an important role in completing this deal. First Abu Dhabi Bank served as the Senior Green Coordinator, while Abu Dhabi Commercial Bank served as the Green Loans Coordinator.

The Barakah Nuclear Power Plant is a pioneering project in the field of clean energy. It plays an important role in reducing carbon emissions in the United Arab Emirates.

Barakah power plants are the largest source of clean energy in the Middle East and North Africa region. They provide a reliable source of clean electricity, and these stations contribute to ensuring the energy security of the United Arab Emirates and enhancing its ability to meet its growing energy needs.

It is expected that the plants, when operating at full capacity later this year 2024, will contribute to reducing carbon emissions by the equivalent of 22.4 million tons annually.