Key facts
- Masdar secured $5.1 billion in financing for a renewable energy project in Abu Dhabi.
- The project is the world's first gigascale round-the-clock renewable energy initiative.
- It will feature a 5.2-GW solar PV plant and a 19 GWh battery energy storage system.
- Total capital investment for the project is $6.1 billion.
- Masdar expects the project to be operational in 2027.
Masdar, the United Arab Emirates' renewable energy company, announced on Monday that it has secured $5.1 billion in financing for what it claims is the world's first gigascale round-the-clock renewable energy project. The project, located in Abu Dhabi, will require a total capital investment of $6.1 billion, with Masdar contributing $1 billion in equity. The financing package was backed by a consortium of 13 leading international and local banks, including institutions from China, Hong Kong, Japan, and France, such as BNP Paribas, Societe Generale, and Standard Chartered Bank.
The company stated that the financing demonstrates strong market confidence in the project's commercial viability and Masdar's capability to deliver large-scale energy infrastructure. The initiative will feature a 5.2-gigawatt (GW) solar photovoltaic plant integrated with a 19 gigawatt-hour (GWh) battery energy storage system. Masdar broke ground on the project in October 2025, and it is anticipated to be operational by 2027.
This 24/7 renewable energy project is a key component of the UAE's clean energy strategy, aiming to enhance energy security and promote economic diversification. Masdar currently manages a diverse portfolio exceeding 65 GW across solar, onshore and offshore wind, battery storage, and hybrid solutions. The company has set a goal to achieve 100 GW of renewable energy capacity globally by 2030, positioning itself as one of the world's largest renewable energy firms. Masdar's shareholders include ADNOC, Mubadala, and TAQA.