Abu Dhabi’s clean energy pioneer, Masdar, has achieved financial close on a massive $6.1 billion renewable energy venture. The company has secured a $5.1 billion debt facility from a heavyweight international and local banking consortium to fund what has been described as the world’s first gigascale, 24/7 renewable energy installation.
The clean energy developer will provide the remaining $1 billion in equity funding for the landmark scheme. Being developed in partnership with the Emirates Water and Electricity Company, the massive facility will combine a 5.2-gigawatt solar photovoltaic plant with a mammoth 19-gigawatt-hour battery energy storage system. This unique combination aims to solve the historic challenge of renewable energy intermittency by supplying continuous, round-the-clock clean electricity to the grid.
A powerhouse group of thirteen financial institutions has backed the debt package. The lending consortium comprises 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.
Work on the groundbreaking project is already well underway, with Masdar having originally broken ground at the site in October 2025. The full commercial operation of the facility is currently anticipated by the end of 2027, marking a monumental shift in how utility-scale clean power is financed and delivered globally.
