Abu Dhabi Future Energy Company PJSC (Masdar) has reached financial close on its landmark $6.1 billion round-the-clock renewable energy project in Abu Dhabi, securing $5.1 billion in project financing from a consortium of 13 international and regional banks for what the company says will become the world’s first giga-scale renewable energy facility capable of delivering uninterrupted clean electricity 24 hours a day.
The milestone marks one of the largest financing ever completed for an integrated solar-and-battery project. It also underscores growing investor confidence that utility-scale renewable power paired with long-duration energy storage has become commercially bankable.
World-first US$6.1 billion gigascale 24/7 clean energy project by Masdar: Overview
The project, being jointly developed by Masdar and Emirates Water and Electricity Company (EWEC), combines a 5.2-gigawatt (GW) solar photovoltaic plant with a 19-gigawatt-hour (GWh) battery energy storage system (BESS).
Once operational in 2027, it will provide 1 GW of continuous clean electricity around the clock. This will overcome the intermittency challenges that have traditionally limited solar generation.
Masdar’s $6 billion solar-battery project construction started in October 2025 after being unveiled during Abu Dhabi Sustainability Week earlier that year. It was unveiled as a cornerstone of the UAE’s strategy to provide reliable carbon-free baseload power.
Financial close
Masdar said the financing package was provided by Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, BNP Paribas, Bank of China, and Credit 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 Societe Generale were also involved in the financing.
Masdar is contributing approximately $1 billion in equity toward the project’s total capital cost. The debt financing also reflects strong backing from both regional and international lenders for large-scale renewable infrastructure.
Growing global power demand
The financing milestone also comes as electricity demand accelerates worldwide due to the rapid expansion of AI hyperscale data centers. Manufacturing and industrial electrification also take a share in the increasing power demand. By combining massive solar generation with one of the world’s largest battery storage systems, the project aims to provide dispatchable renewable power that can compete with conventional baseload generation. This is while supporting grid reliability and energy security.
Masdar also said the successful financial close demonstrates that round-the-clock renewable energy projects have evolved from technical concepts into commercially viable infrastructure assets.
Masdar’s expanding global portfolio
Chief Financial Officer Mazin Khan said the financing commitment reflects international confidence in the project’s economics. The close is also seen as a nod to Masdar’s execution capabilities and long-term growth strategy. Mazin added that the company intends to continue mobilizing global institutional capital for increasingly complex renewable energy projects. These projects will be geared toward economic growth, affordability and energy security and the transition to clean power.
The latest milestone on the world’s first 24/7 renewable energy project in UAE also builds on Masdar’s aggressive global expansion strategy. The UAE renewable energy company now manages a diversified portfolio exceeding 65 GW. This is across solar, onshore wind, offshore wind, battery storage and hybrid renewable projects. The projects are in more than 40 countries. Masdar also has a target of reaching 100 GW of renewable energy capacity by 2030.
Over the past year, Masdar has continued to expand internationally. This is through major investments including the East Anglia THREE offshore wind project in the United Kingdom and renewable energy acquisitions across Europe. Masdar has also setup new utility-scale solar developments in the Middle East and Central Asia.
Outlook on the US$6.1 billion gigascale 24/7 clean energy project by Masdar
For the UAE, the project is a significant step toward diversifying the country’s energy mix. It will also reinforce its position as a global clean energy hub.
If delivered as planned, the Abu Dhabi facility will establish a new benchmark. This will be for integrating gigawatt-scale solar generation with battery storage to provide uninterrupted renewable electricity. It will also provide a potential blueprint for future energy systems. This will be for designs to meet growing global demand without relying on fossil fuel generation.
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