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Masdar has achieved financial close on a $6.1 billion renewable energy project in Abu Dhabi, securing a $5.1 billion debt package from a consortium of 13 international and local banks for what it described as the world’s first gigascale 24/7 renewable energy project.
The Abu Dhabi-based clean energy company is contributing $1 billion in equity towards the total project investment.
The project is being developed by Masdar and Emirates Water and Electricity Company (EWEC) and combines a 5.2-gigawatt solar photovoltaic (PV) plant with a 19-gigawatt-hour battery energy storage system (BESS).
The financing package was arranged by a lending group 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 Societe Generale.
Masdar broke ground on the project in October 2025, and it is expected to be operational in 2027.
(Writing by Brinda Darasha; editing by Bindu Rai)
