Abu Dhabi Future Energy Company (Masdar) has announced the financial close for the world’s first gigascale 24/7 renewable energy project, which is said to mark a defining milestone in the commercialisation of the next generation of clean energy infrastructure.
Backed by a consortium of 13 international and local banks, the US $5.1bn financing package demonstrates strong market confidence in both the project’s commercial viability and Masdar’s ability to deliver complex energy infrastructure at scale, said a report.
Representing a total capital investment of US $6.1bn, with Masdar funding US $1bn of equity, the round-the-clock (RTC) project is being developed in Abu Dhabi by Masdar and Emirates Water and Electricity Company (EWEC). It will integrate a 5.2GW solar photovoltaic (PV) plant with a 19GWh battery energy storage system (BESS). The financing was provided by a consortium including the following lenders: Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, BNP Paribas, Bank of China, Credit Agricole Corporate and Investment Bank, Dubai Islamic Bank, First Abu Dhabi Bank, Hongkong and Shanghai Banking Corporation (HSBC), KfW IPEX-Bank, Natixis, Sumitomo Mitsui Banking Corporation, Standard Chartered Bank, and Societe Generale.
The financial close demonstrates that large-scale renewable energy projects capable of delivering RTC power have evolved from technical ambition to commercially bankable infrastructure, the company said.
As electricity demand accelerates, driven by AI, data centres, and advanced manufacturing, the project establishes a new benchmark for financing reliable, utility-scale clean energy projects and addresses the key challenge of intermittency. For Masdar, the milestone demonstrates its continued ability to attract and mobilise institutional capital and deliver increasingly complex renewable infrastructure projects in partnership with governments, utilities, and financial institutions, it said.
“We are pleased to have secured funding from such a broad and highly respected group of local and international banks in support of this pioneering project,” said Mazin Khan, Chief Financial Officer at Masdar.
“This significant financing commitment demonstrates the confidence of the international banking community not only in a landmark project but also in Masdar’s financial strength, disciplined execution and long-term growth strategy. This milestone further demonstrates our ability to mobilise global capital at scale while delivering innovative renewable infrastructure that supports long-term economic growth and energy security. We now look forward to advancing the project to deliver reliable, affordable, clean energy around the clock,” Khan noted.
Masdar broke ground on the project in October 2025, and it is expected to be operational in 2027. The 24/7 renewable energy project remains a cornerstone of the UAE’s clean energy strategy, contributing to energy security and economic diversification, the company confirmed.
Hence then, the article about masdar reaches financial close for us 6 1bn gigascale energy project was published today ( ) and is available on ME CONSTRUCTION NEWS ( United Arab Emirates ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details
Finally We wish PressBee provided you with enough information of ( Masdar reaches financial close for US $6.1bn gigascale energy project )
Also on site :
- Majority of £15billion spent on PPE during Covid pandemic was a waste, inquiry concludes, with race for medical supplies like the 'Wild West'
- Sana’a Schools hold student protests condemning Saudi targeting of Sana’a International Airport
- Trump warns strikes against Iran will continue 'until I say it's enough' as he reveals the brutal attack he's saving for last unless a deal is made