Masdar has secured financial close on its $6.1 billion renewable energy project in Abu Dhabi after obtaining a $5.1 billion financing package from a consortium of 13 local and international banks, advancing what the company says will be the world’s first gigascale renewable energy project capable of supplying clean electricity around the clock.
The Abu Dhabi-based clean energy developer is investing $1 billion in equity, while the remaining funding is being provided through debt financing. The transaction underscores strong investor confidence in the UAE’s expanding renewable energy sector and its large-scale infrastructure ambitions.
The project, being developed in partnership with Emirates Water and Electricity Company (EWEC), will combine a 5.2-gigawatt solar photovoltaic (PV) facility with a 19-gigawatt-hour battery energy storage system (BESS). By integrating large-scale solar generation with long-duration energy storage, the project is designed to deliver continuous renewable power throughout the day and night.
The financing was arranged through a banking syndicate that includes Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, BNP Paribas, Bank of China, Crédit Agricole Corporate and Investment Bank, Dubai Islamic Bank, First Abu Dhabi Bank, HSBC, KfW IPEX-Bank, Natixis, Sumitomo Mitsui Banking Corporation, Standard Chartered Bank, and Société Générale.
Construction on the project began in October 2025, with commercial operations expected to commence in 2027. Once operational, the facility is set to support the UAE’s clean energy transition by expanding renewable power capacity, improving grid reliability, and advancing the country’s net-zero objectives.
The financial close represents one of the region’s largest renewable energy financing transactions and highlights increasing investment in utility-scale projects that combine renewable generation with battery storage to provide dependable, dispatchable clean electricity.
