A 13-bank consortium has provided $5.1 billion in financing for Masdar’s $6.1 billion round-the-clock renewable energy project in Abu Dhabi. The development combines 5.2 GW of solar PV with 19 GWh of battery storage and is scheduled to deliver 1 GW of continuous power from 2027.
Financial close has been reached for a landmark Round-the-Clock (RTC) renewable energy project in Abu Dhabi, securing a $5.1 billion financing package. Developed by Masdar in partnership with the Emirates Water and Electricity Company (EWEC), the integrated facility combines utility-scale solar generation with battery storage to provide continuous baseload electricity.
The project represents a total investment of US$6.1 billion, comprising US$5.1 billion in project financing and US$1 billion in equity from Masdar. Developed in partnership with Emirates Water and Electricity Company (EWEC), the project combines a 5.2 GW solar photovoltaic (PV) facility with a 19 GWh battery energy storage system (BESS). Once operational, it is designed to provide up to 1 GW of uninterrupted clean electricity around the clock.
Masdar said the financing demonstrates that utility-scale renewable energy projects capable of delivering reliable baseload power have become commercially bankable infrastructure. The project is intended to address renewable intermittency by integrating large-scale battery storage with solar generation, enabling continuous power delivery for industrial loads and growing electricity demand.
The financing consortium includes 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.
According to Masdar, the project is expected to support rising electricity demand from sectors such as artificial intelligence, data centers, and advanced manufacturing while strengthening energy security. The company also stated that the financing reflects investor confidence in its execution capabilities and long-term renewable energy strategy.
Construction of the project began in October 2025, following the groundbreaking ceremony, and commercial operations are targeted for 2027. The development forms part of the UAE's broader clean energy strategy and is expected to contribute to the country's energy transition and economic diversification objectives.
Masdar currently manages a diversified renewable energy portfolio exceeding 65 GW across solar, onshore wind, offshore wind, battery storage, and hybrid renewable projects worldwide. The company aims to expand this portfolio to 100 GW by 2030 through continued investment in utility-scale renewable infrastructure across international markets.
The successful financial close is expected to reinforce confidence in gigawatt-scale solar-plus-storage projects, demonstrating that integrated renewable systems can attract large institutional financing while supporting reliable, low-carbon electricity generation.