Prime Highlights
- Positive Zero closes $375m non-recourse financing, a first of its kind in the region.
- Deal complements BlackRock’s earlier $400m investment, strengthening the company’s capital structure.
Key Facts
- Positive Zero is a GCC energy transition platform focused on distributed infrastructure assets.
- The company holds over 500MW of distributed solar capacity across the region.
Background
Positive Zero, an energy transition platform in the Gulf region, has closed a landmark financing facility of up to $375 million.
The company said the non-recourse financing was the first transaction of its kind in the region for a portfolio of decentralised infrastructure assets, covering distributed solar power, energy efficiency and clean mobility solutions.
The long-term financing was arranged by Natixis Corporate & Investment Banking and The Arab Energy Fund. Natixis CIB also acted as financial advisor, facility agent, security agent and green loan coordinator for the deal.
The funding will support Positive Zero’s expansion across the UAE, Saudi Arabia, Bahrain, Oman and Qatar, financing its infrastructure portfolio, capital expenditure programme and strategic initiatives. It complements BlackRock’s investment of up to $400 million in the company, secured in 2023, strengthening its capital structure for the next growth phase.
Chief Executive David Auriau said the deal was a defining milestone for the company and for mobilising capital for sustainable infrastructure in the region, reflecting the confidence financial institutions placed in its business model.
Natixis CIB’s Middle East infrastructure and energy finance head, Lara Khatib, said the deal set a new benchmark for infrastructure financing in the region. The Arab Energy Fund’s chief banking officer, Nicolas Thevenot, said the financing showed how innovative structures could accelerate distributed energy deployment at scale.
Positive Zero holds the region’s largest distributed solar capacity, with more than 500 megawatts in operation and under construction, avoiding over 450,000 metric tons of carbon emissions annually. Its efficiency solutions have saved more than 100 million kilowatt-hours of energy across its client portfolio.
