Dubai, UAE – 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 (Natixis CIB) 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. 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.”

Lara Khatib, Head of Infrastructure & Energy Finance, Middle-East, Caucasus and Central Asia 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. 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.”

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. We are pleased to participate in this landmark transaction, which demonstrates how innovative financing structures can accelerate the deployment of distributed energy solutions at scale.”

This transaction represents a significant milestone in the evolution of sustainable infrastructure financing in the region, and it builds 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.   The company has also saved over 100 million kilowatt-hours (kWh) in energy consumption across its client portfolio through its energy-efficiency solutions.

About Positive Zero
Positive Zero is empowering a new energy economy by making decarbonization fast, simple and profitable. The company helps businesses across diverse industries become more sustainable by reducing their operational costs and carbon footprint. Positive Zero builds, finances, and operates site-integrated energy systems in distributed generation, energy efficiency and clean mobility, requiring no upfront investment from clients. The company has the largest distributed solar capacity of more than 500 MW in the GCC region, and its efficiency solutions have saved over 100 million kWh in energy consumption across its client portfolio to date. Positive Zero continues to grow and reinforce its position as the largest provider of sustainable and decentralized infrastructure in the region. The result is a reduction of over 450,000 tons of carbon emissions annually, the equivalent of planting 7 million trees. 

About The Arab Energy Fund
The Arab Energy Fund is a multilateral impact financial institution focused on the MENA energy and utility sectors, established in 1974 by ten Arab oil-exporting countries. The Fund’s mission is to support the energy ecosystem with debt and equity solutions to enable energy security and sustainability and to develop local value chains and services in the MENA region. The Arab Energy Fund creates impact by contributing to economic prosperity and enabling local communities via talent development and knowledge creation. The Fund offers a comprehensive range of funding solutions across the entire energy value chain to leading public and private sector business partners in over 35 markets. The Arab Energy Fund applies best-practice ESG principles across all operations, with environmental and socially linked projects comprising c.25% of its USD 6.38bn loan portfolio. The Arab Energy Fund is the only energy-focused financial institution in the MENA region rated ‘Aa2’ by Moody’s, ‘AA+’ by Fitch and ‘AA-’ by S&P.

About Natixis

Natixis Corporate & Investment Banking is a leading global financial institution that provides advisory, investment banking, financing, corporate banking and capital markets services to corporations, financial institutions, financial sponsors and sovereign and supranational organizations worldwide. Natixis CIB teams of experts in close to 30 countries advise clients on their strategic development, helping them to grow and transform their businesses, and maximize their positive impact. Natixis CIB is committed to aligning its financing portfolio with a carbon neutrality path by 2050 while helping its clients reduce the environmental impact of their business.

As part of Groupe BPCE, the second largest banking group in France through the Banque Populaire and Caisse d’Epargne retail networks, Natixis CIB benefits from the Group’s financial strength and solid financial ratings (Standard & Poor's: A+, Moody's: A1, Fitch: A+, R&I: A+).

Media Contacts:
Carine Bouery
Head of Marketing
Positive Zero
cbouery@positivezero.com

Yasa Ahmad
Communications Consultant
The Arab Energy Fund
ayasa@taef.com

Jonathan Ivan-Duke
Partner, duke+mir
jon@dukemir.com