Riyadh – Sharikat Mubasher: Positive Zero, an energy transition platform in the GCC, announced it has successfully closed a financing facility of up to $375 million to support the expansion of its decentralized infrastructure portfolio across the region.

As per the company’s press release, the non-recourse financing is described as the first transaction of its kind in the Middle East for a diversified portfolio of decentralized infrastructure assets, including distributed solar power generation, energy efficiency, and clean mobility solutions.

The long-term facility 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 transaction.

The funding will support Positive Zero’s expansion in the United Arab Emirates, Saudi Arabia, Bahrain, Oman, and Qatar, financing growth in its distributed infrastructure portfolio, capital expenditure program, and strategic development initiatives.

The new facility complements BlackRock's investment of up to $400 million in Positive Zero, secured in 2023.

Positive Zero said it currently has more than 500 megawatts of distributed solar capacity in operation or under construction, helping avoid more than 450,000 metric tons of carbon emissions annually.