ADNOC, JBIC sign $3-billion green financing deal

UAE

ABU DHABI, July 5, 2024 – Abu Dhabi’s ADNOC has signed a USD 3-billion financing deal for its green energy and decarbonisation initiatives with Japan Bank for International Cooperation (JBIC), the Emirati company announced on Thursday.

The facility comes as part of JBIC’s Global action for Reconciling Economic growth and ENvironmental preservation (GREEN) programme.

ADNOC touts its oil and gas production as among the least carbon-intensive worldwide and is making continued efforts in this area, aiming to reach net-zero emissions by 2045.

The company is investing USD 23 billion to decarbonise its operations and accelerate the growth of hydrogen, geothermal, other renewable energies and carbon capture technologies.

Photo of an ADNOC H2GO hydrogen refuelling pilot station in Masdar City courtesy of ADNOC.

Read our latest insights on:

• UAE

Previous

Technip Energies, SBM Offshore form floating offshore wind JV

Next

Golar secures 20-year FLNG contract in Argentina