Strategic financing to support Siemens Energy’s expanding project pipeline and future growth in the region.
Commercial Bank of Dubai (CBD) has announced a strategic partnership with Siemens Energy, a global leader in energy technology, by extending an AED 550 million bilateral credit facility to its UAE unit, Siemens Energy LLC. This facility is set to enhance Siemens Energy’s ability to execute its growing pipeline of projects while fostering innovation and sustainability within the country’s energy sector.
The financial arrangement underscores CBD’s commitment to advancing the UAE’s economic diversification and energy transition goals. By facilitating capital to a key industry player, CBD is reinforcing its market presence as a provider of tailored financial solutions to major enterprises, further solidifying its role in the region’s energy sector development.
Dr. Bernd Pischetsrieder, Chief Financial Officer of Siemens Energy Middle East, highlighted the significance of the partnership, stating, “This credit facility from CBD will support our operations and enable us to deliver on our commitments to energy projects that are critical for the UAE’s infrastructure and sustainability targets.”
Meanwhile, Dr. Bernd van Linder, Chief Executive Officer of Commercial Bank of Dubai, emphasized the bank’s dedication to fostering strategic collaborations that drive economic and environmental progress. “CBD is proud to support Siemens Energy in its mission to provide innovative and sustainable energy solutions. This financing is aligned with our broader strategy to contribute to the UAE’s vision of a greener and more energy-efficient future,” he said.
The UAE has been actively investing in energy transition projects, with a strong emphasis on renewable energy, efficiency, and advanced technological solutions. Siemens Energy has been at the forefront of these developments, playing a pivotal role in delivering cutting-edge solutions that support the nation’s sustainability objectives.
With the backing of CBD, Siemens Energy is well-positioned to continue its efforts in modernizing and optimizing the energy landscape in the UAE. The financing will enable the company to strengthen its operational capacity, scale up project execution, and contribute to the country’s long-term energy goals.
As both entities align their vision for a sustainable and innovative energy future, this partnership is set to play a crucial role in shaping the UAE’s energy infrastructure for years to come.
