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Positive Zero, a UAE-headquartered energy transition platform, has secured a $375 million loan facility to fund “decentralised infrastructure development” in the UAE, Saudi Arabia, Bahrain, Oman and Qatar.
The non-recourse financing will cover decentralised infrastructure assets, including distributed solar power generation, energy efficiency and clean mobility solutions.
Positive Zero said the loan facility will also provide “substantial long-term capital” to support its expansion across the GCC, funding the growth of its distributed infrastructure portfolio, capital expenditure programme and development initiatives.
The latest debt facility follows BlackRock’s investment of up to $400 million in Positive Zero, secured at the end of COP28 in 2023.
The current long-term financing was arranged by Natixis Corporate & Investment Banking (Natixis CIB) and the Arab Energy Fund. Natixis CIB also acted as facility agent, security agent and green loan coordinator for this transaction, and a financial advisor to Positive Zero.
(Writing by Bindu Rai, editing by Brinda Darasha)
