The Asian Infrastructure Investment Bank (AIIB) has pledged EUR 75 million ($81 million) towards a EUR 500 million ($541 million) sustainability-linked green loan facility to advance ENGIE’s global renewable energy expansion and decarbonisation goals. The ENGIE Sustainability-Linked Green Loan Project is co-financed by the International Finance Corporation (IFC) and Proparco (Société de Promotion et de Participation pour la Coopération Economique).
This marks AIIB’s second collaboration with ENGIE, one of the world’s largest electric utilities and independent power producers, following its financing of the 400MW Gujarat Solar Project earlier this year. Funds from the facility will be directed towards acquiring, developing, and constructing over 550MW of new renewable capacity.
Najeeb Haider, AIIB Director General, Project and Corporate Finance Clients, Global, said, “With its agility and international presence in strategic markets, AIIB is uniquely placed to support multinational energy groups like ENGIE to advance the energy transition in Asia and beyond with their investments.”
Jean-Marc Turchini, Group Head of Corporate Finance at ENGIE said, “Our partnership with AIIB is certainly a meaningful contribution and we feel grateful for what they achieved with this financing.”