The long-term facility will fund decentralized infrastructure development in the UAE, Saudi Arabia, Bahrain, Oman and Qatar.
Positive Zero, the GCC’s leading energy transition platform, today announced the successful closing of a landmark financing facility of up to USD 375 million. The non-recourse financing is the first transaction of its kind in the region for a diversified portfolio of decentralized infrastructure assets, including distributed solar power generation, energy efficiency and clean mobility solutions. Natixis Corporate & Investment Banking acted as Financial Advisor to Positive Zero.
The long-term financing was arranged by Natixis CIB and The Arab Energy Fund. Natixis CIB also acts as Facility Agent, Security Agent and Green Loan Coordinator for this transaction.
The financing will provide substantial long-term capital to support Positive Zero’s continued expansion in the United Arab Emirates, Saudi Arabia, Bahrain, Oman and Qatar, funding the growth of its distributed infrastructure portfolio, capital expenditure program and strategic development initiatives.
The new debt facility complements BlackRock’s investment of up to USD 400 million in Positive Zero, secured in 2023, further strengthening the company’s capital structure and supporting the next phase of its growth.
David Auriau, Chief Executive Officer, Positive Zero, said: ‘This transaction represents a defining milestone not only for Positive Zero, but also for mobilizing capital for sustainable infrastructure in the region.’
Lara Khatib, Head of Infrastructure & Energy Finance at Natixis CIB, said: ‘We are proud to support Positive Zero on this pioneering transaction, which establishes a new benchmark for infrastructure financing in the region.’
Nicolas Thévenot, Chief Banking Officer, The Arab Energy Fund, said: ‘This financing reflects The Arab Energy Fund’s commitment to supporting strategic energy infrastructure across the region.’
This transaction represents a significant milestone in the evolution of sustainable infrastructure financing in the region, building on Positive Zero’s established track record in innovative financing.
Today, the company has the largest distributed solar capacity in the region with more than 500 megawatts (MW) in operations and under construction, avoiding more than 450 thousand metric tons of carbon emissions annually.
