Masdar secures financial close on $6.1 billion renewable energy project in Abu Dhabi

Masdar has reached financial close on a $6.1 billion renewable energy project in Abu Dhabi, securing a $5.1 billion financing package from a consortium of 13 local and international banks for what the company describes as the world’s first gigascale renewable energy project capable of delivering clean power around the clock.

The Abu Dhabi-based clean energy company is contributing $1 billion in equity, with the remaining financing provided through debt backed by a syndicate of lenders. The deal highlights continued investor confidence in large-scale clean energy infrastructure across the UAE.

Developed in partnership with Emirates Water and Electricity Company (EWEC), the project combines a 5.2-gigawatt solar photovoltaic (PV) plant with a 19-gigawatt-hour battery energy storage system (BESS). The integrated design aims to provide renewable electricity 24 hours a day, addressing a key challenge of renewable energy by pairing power generation with long-duration storage.

The financing package was arranged by a consortium comprising 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.

Masdar broke ground on the project in October 2025. Once completed, the facility is expected to begin operations in 2027 and will contribute to the UAE’s broader strategy to accelerate renewable energy deployment, strengthen grid resilience, and support its net-zero ambitions.

The financial close marks one of the largest renewable energy financing deals in the region and reflects growing momentum behind utility-scale clean energy projects that combine solar generation with battery storage to deliver reliable, dispatchable power.