Masdar completes the financial closing of the first and largest renewable energy project of its kind in the world, worth AED 22.4 billion.

Abu Dhabi Future Energy Company (Masdar), the world leader in the field of clean energy, announced today the completion of the financial closing process for the first and largest project of its kind that provides renewable energy around the clock, in a step that represents a qualitative leap in the development of the new generation of clean energy infrastructure projects and their application on a commercial scale.

The deal includes providing a financing package for the project worth 18.73 billion dirhams ($5.1 billion), through a consortium that includes 13 leading local and international banks, which reflects the financial sector’s confidence in the commercial viability of the project, and in Masdar’s ability to implement advanced and large-scale infrastructure projects in the energy field.

The total investment value of the project amounts to 22.4 billion dirhams ($6.1 billion), while Masdar is contributing 3.67 billion dirhams ($1 billion) as a share in the capital.

Masdar is developing the project in Abu Dhabi in cooperation with the Emirates Water and Electricity Company, and it includes a solar photovoltaic power plant with a capacity of 5.2 gigawatts equipped with a battery system for energy storage with a capacity of 19 gigawatts per hour, which is the largest and most technically advanced in the world.

The financing was provided through a consortium that includes a number of the most prominent regional and international banking institutions, including Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, BNP Paribas, Bank of China, Credit Agricole Corporate & Investment Bank, Dubai Islamic Bank, First Abu Dhabi Bank, Hong Kong and Shanghai Bank (HSBC), KFW Ibex Bank, Natixis, Sumitomo Mitsui Banking Group, and… Standard Chartered and Société Générale.

The completion of the financial closure of this pioneering project reflects that large-scale renewable energy projects capable of providing electricity around the clock have moved from being merely a technical aspiration to becoming commercially viable infrastructure projects capable of attracting financing from financial institutions.

With the acceleration in demand for electricity, as a result of the development witnessed by artificial intelligence technologies, data centers and advanced industries, the project comes to establish a new standard in the level of financing reliable, large-scale clean energy projects, and also provides a practical solution to the instability of renewable energy supplies.

The deal reflects Masdar’s position and ability to continue attracting the interest of financial institutions and providing financing to implement advanced renewable energy projects in cooperation with governments, utility companies and financial institutions.

Masdar’s Chief Financial Officer, Mazen Khan, said: We are pleased to provide financing for this pioneering project with the support of a consortium that includes an elite group of prestigious local and international banks, which reflects confidence in this pioneering project, in Masdar’s financial capabilities, its high efficiency in implementing projects, and its strategy for long-term growth.

He added: This achievement embodies Masdar’s ability to attract global capital to finance and develop innovative, large-scale infrastructure projects in the field of renewable energy, in a way that supports sustainable economic growth and enhances energy security in the long term. The company looks forward to continuing the implementation of the project, to provide clean energy around the clock with high reliability and competitive prices.

Masdar laid the foundation stone for the 24-hour renewable energy project in October 2025, and it is expected to become operational in 2027. This project is one of the main pillars of the UAE’s clean energy strategy, as it will contribute to enhancing energy security and supporting the diversification of the economy.

Masdar has a global project portfolio with a total production capacity exceeding 65 gigawatts, covering major and high-growth renewable energy markets, and including various renewable energy technologies, including solar energy, onshore and offshore wind energy, battery energy storage systems, and hybrid solutions.

As part of its endeavors to reach 100 gigawatts by 2030, Masdar continues its expansion and growth in major global markets according to a disciplined and deliberate approach, to provide clean, reliable energy at a competitive cost that meets the rapid growth in global demand for electricity.