The long-term facility will fund decentralized infrastructure development in the GCC
Positive Zero, the GCC’s leading energy transition platform, today announced the successful closing of a landmark financing facility of up to US$ 375mn.
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.
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.
Financing facility
“Securing the Middle East’s first non-recourse financing facility for a range of sustainability solutions across multiple geographies demonstrates the confidence that leading international and regional financial institutions place in our business model and long-term growth strategy,” asserted David Auriau, Chief Executive Officer, Positive Zero.
“The facility structure reflects both the quality of the underlying asset portfolio and the increasing sophistication of financing solutions supporting energy transition and infrastructure development across the Middle East,” noted Lara Khatib, Head of Infrastructure & Energy Finance, Middle East, Caucasus and Central Asia, Natixis CIB.
“The Arab Energy Fund is pleased to participate in this landmark transaction, which demonstrates how innovative financing structures can accelerate the deployment of distributed energy solutions at scale,” added Nicolas Thévenot, Chief Banking Officer, The Arab Energy Fund.
