Masdar Secures Financial Close for World's First US$6.1bn Gigascale 24/7 Clean Energy Project

Masdar has reached financial close, in partnership with the Emirates Water and Electricity Company (EWEC), for the world's first US$6.1 billion gigascale Round-the-Clock (RTC) renewable energy project in Abu Dhabi, United Arab Emirates. 

The project has secured a US$5.1 billion financing package from a consortium of 13 leading domestic and international banks. Valued at a total capital investment of US$6.1 billion, the development includes US$1 billion in equity funding from Masdar. It will combine a 5.2 GW solar photovoltaic (PV) facility with a 19 GWh battery energy storage system (BESS) to create the world's largest integrated solar and battery storage project, enabling the continuous delivery of 1 GW of clean electricity 24 hours a day, seven days a week.

The financing consortium comprises 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 (SMBC), Standard Chartered Bank, and Société Générale. Construction of the project commenced in October 2025, with commercial operations scheduled to begin in 2027.