Green Bond Fact Sheet

Taweelah IWP

Date: 23/03/2020

Issue date: 01-09-2019 Maturity date: tbc Tenor: 32.4
Issuer Name

Taweelah IWP (ACWA,Abu Dhabi Power
Corporation andMubadala
Development
Company PJSC)

Amount Issued

USD785m

Country of risk

UAE

CBI Database

Included

Issuer Type1

Loan

Bond Type

Sukuk

Green Bond Framework

N/A

Second Party Opinion

Vigeo Eiris

Certification Standard

Not certified

Assurance Report

N/A

Certification Verifier

N/AGreen bond rating

N/A☒ Energy☒ Solar☐ Onshore wind
☐ Offshore wind
☐ Geothermal☐ Hydro☐ Tidal☐ Biofuels☐ Bioenergy☐ District heating☐ Electricity grid

☐ Energy storage☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☐ Buildings☐ Certified Buildings☐ HVAC systems☐ Energyperformance☐ Water performance☐ Energy storage/meters☐ Other energy related☐ Industry: components☐ Adaptation & resilience☐ Transport☐ Electric vehicles☐ Low emissionvehicles☐ Bus rapid transit☐ Passenger trains☐ Urban rail

☐ Freight rolling stock☐ Coach / public bus☐ Bicycle infrastructure☐ Energy performance☐ Transport logistics☐ Infrastructure☐ Industry: components☐ Adaptation & resilience☒ Water & wastewater☐ Water distribution☐ Water treatment☐ Wastewatertreatment☐ Water storage☐ Storm water mgmt
☐ Flood protection☒ Desalinisation plants☐ Erosion control☐ Energy performance☐ Infrastructure☐ Industry: components☐ Adaptation & resilience

Use of Proceeds☐ Waste management☐ Recycling☐ Waste prevention☐ Pollution control☐ Landfill, energy capture☐ Energy performance☐ Infrastructure☐ Waste to energy☐ Industry: components☐ Adaptation & resilience☐ Land use & agriculture☐ Afforestation/parks☐ FSC Forestry☐ FSC Cellulose &paper☐ Land remediation☐ Energy/water efficiency☐ Sustainable agriculture☐ Adaptation & resilience☐ Other☐ Adaptation &resilience☐ ICT☐ Industry: process

Issue details
ReportingCompany information

ACWA Power is a developer, investor, co-owner and operator of power generation as well
as desalinated water production plants in Saudi Arabia. It is the lead developer and operateof this project. Taweelah RO Desalination Company LLC is a project company created by
ACWA Power and other shareholders.

Firsts, records andcertifications
Proceeds description

The proceeds of the bond will finance a water desalination project in the Taweelah complex
which is based in Abu Dhabi, UAE. This includes the design, construction and maintenanceof a 200 million imperial gallons per day reverse osmosis plant as well as related
infrastructure and facilities. The project is scheduled to be finished by 2020.
A photovoltaic power plant complementing the energy supply from the grid is also includedin the project plan.

Climate Bonds view

This is the fourth issuer from the UAE joining the green bond market with the second
largest issuance so far. The deal will contribute to the country’s Energy Strategy 2050,
which includes a target to reduce the national carbon footprint linked to power generation
by 70%. It also takes action on one of the most pressing issues accompanying climatechange: water stress. By building the largest reverse osmosis plant in the world, thisinvestment helps ensure secure water supply in the country. In the MENA region, most ofthe green bonds to date have come from the UAE. We hope that other countries willrecognise the opportunity and follow the lead.

Underwriters

NatixisDeal comments
Credit Rating
Pricing summaryInvestors summary

1Issuer categories: ABS, development bank, financial corporate, government-backed entity, loan, local government, non-financial
corporate, sovereign