The world’s first 24/7 solar-BESS project in Abu Dhabi by Masdar has achieved financial close, a monumental achievement. Abu Dhabi Future Energy Company (Masdar) announced the milestone as it secured $5.1bn financing package. The funding comes from a consortium of 13 international and local banks. Moreover, the project, being developed in Abu Dhabi with state offtaker Emirates Water & Electricity Company (Ewec), represents a total capital investment of $6.1bn.

Masdar is also providing $1bn of equity. It integrates a 5.2GW solar photovoltaic (PV) plant with a 19GWh battery energy storage system (bess), which Masdar says is the largest system of its kind in the world. The 13 lenders providing the financing are Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, France’s BNP Paribas, Bank of China, and France’s Credit Agricole Corporate & Investment Bank. Others include Dubai Islamic Bank, First Abu Dhabi Bank, UK-based HSBC and Germany’s KfW Ipex-Bank. Moreover, France’s Natixis, Japan’s Sumitomo Mitsui Banking Corporation, UK-based Standard Chartered Bank and France’s Societe Generale are involved.

Major solar projects are advancing in the Middle East with projects such as Saudi Arabia’s National Renewable Energy Program entering crucial phases, with the Saudi Power Procurement Company (SPPC) awarding contracts for four solar projects totaling 3 GW and one wind project. The program, supervised by the Saudi Ministry of Energy, continues to position the Kingdom as a global leader in low-cost renewable energy generation.

Outlook on the World’s First 24/7 Solar-BESS Project in Abu Dhabi

The world’s first 24/7 solar-BESS project in Abu Dhabi by Masdar is designed to deliver 1GW of baseload power around the clock. It also addresses the challenge of solar intermittency by pairing large-scale generation with battery storage. Furthermore, it is intended to serve large energy users requiring 24/7 clean electricity. It will also cater to data center operators and technology firms driving artificial intelligence deployment in the region.

Ewec will act as offtaker under a long-term power purchase agreement, while private offtakers such as data centres will access electricity through back-to-back arrangements. India’s Larsen & Toubro and Beijing-headquartered PowerChina are handling engineering, procurement and construction (EPC) works, with PwC Middle East advising Ewec on financial structuring. On the other hand, China’s CATL will supply the battery storage system, while Jinko Solar and JA Solar will each provide 2.6GW of PV modules. Masdar broke ground on the project in October 2025, and it is expected to be operational in 2027.

Project Overview

• Project Value: $6.1B
• Location: Abu Dhabi, UAE
• Developer: Masdar
• Status: Financial close achieved

Scope

• 5.2GW solar PV plant
• 19GWh battery storage system
• 1GW 24/7 clean power output
• Operational target: 2027

Highlights

• World’s first 24/7 Solar-BESS project
• Largest battery storage system of its kind
• $5.1B project financing secured
• $1B equity from Masdar

Key Partners

• Offtaker: EWEC
• EPC: Larsen & Toubro, PowerChina
• Battery supplier: CATL
• PV suppliers: Jinko Solar and JA Solar

Benefits

• Round-the-clock renewable power
• Supports AI and data center growth
• Reduces solar intermittency
• Also strengthens UAE clean energy capacity

Outlook

• Construction underway following financial close
• Commercial operation targeted for 2027
• Expected to set a global benchmark for renewable energy
• Also supports long-term energy transition goals