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Tabreed secures AED 600 million for green cooling initiatives

By District Energy posted 12-15-2023 09:39


Utilities Middle East


Tabreed, has closed a major AED 600 million Green Revolving Credit Facility (RCF) in collaboration with First Abu Dhabi Bank (FAB), Abu Dhabi Commercial Bank PJSC (ADCB), and Emirates NBD.

The move comes after a successful participation in COP28, aligning with Tabreed’s sustainability strategy.

The five-year financing agreement aims to introduce highly efficient cooling solutions in the GCC market, addressing the rising demand for sustainable technologies.

The funds from the RCF will be exclusively allocated to projects adhering to Tabreed’s Green Finance Framework, established in 2022.

These projects cover District Cooling schemes, Energy and Water Efficiency enhancements, and Wastewater Management improvements.

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