Emicool secures first-ever green financing to boost sustainable growth
Emirates District Cooling (Emicool), a leading provider of sustainable district cooling services in the UAE and a joint venture between Dubai Investments and Actis, has successfully secured its first-ever green financing, reinforcing its commitment to environmental sustainability and energy efficiency.
The agreement was signed by Dr. Adib Moubadder, CEO of Emicool, in the presence of other representatives from Emicool and the banks.
The Syndicated Financing Facility is led by Dubai Islamic Bank and Abu Dhabi Commercial Bank, with a 60:40 share, totaling AED 2.25 billion — of which AED 1.95 billion is classified as Green Financing to be used for Eligible Green Projects.
Commenting on the deal, Dr. Adib Moubadder, CEO of Emicool, said, 'Securing this green financing facility is a testament to our ongoing commitment to sustainability and innovation. This funding will optimise our capital structure while expanding our energy-efficient cooling services in line with the UAE's green economy vision.'
'As a company deeply aligned with the UAE's Net Zero by 2050 strategy, this milestone reinforces Emicool's leadership in the green district cooling space. By embedding sustainability into both our financial and operational strategies, we are driving meaningful change across the utilities sector and setting new benchmarks for climate-conscious infrastructure,' he added.
Structured with a five-year moratorium and an extended facility term of 12 years, the financing mirrors a bond-like framework that enhances Emicool's capital efficiency. The liquidity generated will be strategically deployed to accelerate the company's district cooling projects across the UAE and the wider region.
Compliant with internationally recognised Green Loan Principles (GLP), the facility ensures funds are directed toward environmentally responsible projects that prioritise energy efficiency and carbon reduction.
'This green financing is not just a financial milestone for Emicool — it's a defining moment in the company's journey toward building a more resilient, sustainable future. Dubai Investments sees this as a validation of the Group's strategy to invest in transformative infrastructure that delivers both commercial value and creates a sustainable and measurable environmental impact,' said Abdulaziz Bin Yagub AlSerkal, CEO – Industrial Platform, Dubai Investments.
Max Burke, a representative from Actis, commented: 'Sustainability and responsible investment are at the heart of Actis' strategy. This milestone financing for EMICOOL underscores our vision for supporting environmentally and socially responsible infrastructure projects. We look forward to EMICOOL's continued leadership in sustainable district cooling and contribution to global climate goals.'
Emicool's district cooling solutions have consistently delivered superior energy savings compared to traditional systems, making the company an ideal candidate for green financing. Moody's has issued a Second Party Opinion, awarding the facility a Sustainability Quality Score of SQS3 (Good), affirming Emicool's alignment with global best practices in sustainable finance.
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