Masdar has reached financial close on a $5.1 billion financing package for its landmark 5.2GW solar and 19GWh battery storage project in Abu Dhabi. The project, described as the world’s first gigascale 24/7 renewable energy initiative, will provide 1GW of continuous clean electricity around the clock. Backed by a consortium of 13 international and regional banks, the project supports the UAE’s clean energy strategy while advancing Masdar’s global target of 100GW of renewable energy capacity by 2030.
Key Overview
- Masdar secured $5.1 billion to finance a 5.2GW solar and 19GWh battery project.
- The project will deliver 1GW of continuous renewable electricity.
- Total investment reaches $6.1 billion, including $1 billion in Masdar equity.
- A consortium of 13 international and regional banks provided the financing.
- Construction began in October 2025, with operations expected in 2027.
Financing Supports Landmark Renewable Energy Project
UAE renewable energy developer Masdar has secured a $5.1 billion financing package for one of the world’s largest renewable energy and battery storage projects, marking a major milestone in the country’s clean energy transition.
The Abu Dhabi-based project combines a 5.2GW solar photovoltaic (PV) plant with a 19 gigawatt-hour battery energy storage system (BESS) capable of delivering 1GW of continuous baseload clean energy around the clock.
Described by Masdar as the world’s first gigascale 24/7 renewable energy project, the development aims to provide reliable baseload renewable power while strengthening energy security.
International Banks Back the Project
The financing package was provided by a consortium of 13 leading international and local banks, reflecting strong confidence in both the project’s commercial viability and Masdar’s long-term growth strategy.
Participating lenders include Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, BNP Paribas, Bank of China, Crédit Agricole CIB, Dubai Islamic Bank, First Abu Dhabi Bank, HSBC, KfW IPEX-Bank, Natixis, Sumitomo Mitsui Banking Corporation, Standard Chartered, and Société Générale.
According to Masdar Chief Financial Officer Mazin Khan, the funding demonstrates the international banking community’s confidence in the company’s ability to develop large-scale renewable infrastructure while mobilizing global capital to support energy security and sustainable economic growth.
Delivering Renewable Power Around the Clock
Unlike conventional solar projects that generate electricity only during daylight hours, the Abu Dhabi development integrates a massive 19-gigawatt-hour battery energy storage system, allowing excess daytime solar generation to be stored and supplied when needed.
The project is expected to become one of the most technologically advanced renewable energy systems globally, delivering continuous 24-hour clean electricity while reducing reliance on fossil-fuel generation.
Masdar is developing the project in partnership with the Emirates Water and Electricity Company (EWEC).
Supporting the UAE’s Clean Energy Strategy
The renewable energy project represents a total investment of approximately $6.1 billion, including $1 billion in equity contributed by Masdar.
Construction officially began in October 2025, with commercial operations expected to commence in 2027.
The project forms a central pillar of the UAE’s strategy to diversify its energy mix, strengthen electricity security and accelerate the country’s transition toward lower-carbon energy systems.
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Expanding Masdar’s Global Renewable Portfolio
Masdar continues to expand rapidly across international renewable energy markets.
The company currently operates a diversified renewable portfolio exceeding 65GW, spanning solar, onshore wind, offshore wind, battery storage and hybrid renewable energy projects across established and emerging markets.
Beyond renewable electricity generation, Masdar is also investing in green hydrogen projects aimed at reducing emissions from hard-to-abate sectors such as heavy industry, aviation, shipping and long-haul transportation.
The company has set a target of reaching 100GW of renewable energy capacity by 2030, reinforcing its ambition to become one of the world’s largest clean energy developers.
Growing Investor Confidence in Utility-Scale Renewables
The successful financing reflects continued investor appetite for large-scale renewable infrastructure capable of delivering reliable electricity while supporting national decarbonization goals.
As electricity demand rises globally, particularly from digital infrastructure, industry and population growth, integrated renewable energy projects combining solar generation with large-scale battery storage are increasingly viewed as essential for improving grid reliability and reducing carbon emissions.
The participation of a broad group of international lenders also highlights growing confidence in utility-scale renewable assets that combine long-term stable returns with measurable environmental benefits.
Outlook
Masdar’s successful $5.1 billion financing marks another significant milestone in the global transition toward large-scale renewable energy infrastructure. As countries seek reliable, low-carbon electricity to meet rising demand, integrated solar and battery storage projects are expected to play an increasingly important role in ensuring round-the-clock clean power generation. The Abu Dhabi project not only strengthens the UAE’s clean energy ambitions but also reinforces Masdar’s position as one of the world’s leading renewable energy developers. With its expanding global portfolio and target of 100GW of renewable capacity by 2030, the company is expected to remain at the forefront of delivering innovative energy solutions that support decarbonization, energy security, and long-term economic growth.
FAQs
1. What is Masdar’s new renewable energy project?
It is a 5.2GW solar photovoltaic plant combined with a 19GWh battery storage system in Abu Dhabi that will deliver 1GW of continuous clean electricity.
2. How much financing did Masdar secure?
Masdar secured $5.1 billion in financing from a consortium of 13 international and regional banks, with the total project investment valued at $6.1 billion.
3. When will the project become operational?
Construction began in October 2025, and the project is expected to begin operations in 2027.
4. Why is this project significant?
The project is considered one of the world’s largest integrated solar and battery storage developments and is designed to provide 24/7 renewable electricity, supporting energy security while accelerating the transition to cleaner energy.
Sources: ESG Today, Dubai Eye 103.8, GULF NEWS, ResponsibleUs, Crude Oil Prices Today, Trend News Agency
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