^{Case study} Working together towards net zero

As part of our commitment to the ‘UAE net zero by 2050’ strategic initiative, we are financing Emirates Water and Electricity Company’s (EWEC) Noor Abu Dhabi solar power plant

Noor Energy 1 is the world’s largest single-site solar power plant, covering an area of eight square kilometres with 3.2 million solar panels. The plant produces approximately 1.2 gigawatts of power, reducing reliance on natural gas for electricity generation and resulting in a carbon footprint reduction of 1 million metric tons per year – equivalent to taking 200,000 cars off the road. The power plant is currently under construction and is expected to be completed by Q3 2023.

For additional examples of renewable energy projects financed by ADCB, please refer to our Sustainable Finance Portfolio, in our ESG Report and for details on our approach to green financing, please refer to our Green Bond Framework.

We continue to work closely with our clients to provide them with financial products and services to help them advance their decarbonisation journey.