Masdar 24/7 renewable energy project wins Dh18.73bn financing in Abu Dhabi
Masdar 24/7 renewable energy project secures Dh18.73bn financing for 5.2GW solar and 19GWh storage, advancing UAE energy security and Masdar’s 2030 growth plan.
Masdar announced the financial close of the UAE’s first and largest round‑the‑clock renewable energy project, securing a Dh18.73 billion financing package to advance construction in Abu Dhabi. The Masdar 24/7 renewable energy project will combine 5.2 gigawatts of photovoltaic capacity with a 19 gigawatt‑hour battery system to deliver reliable clean power at scale. The deal marks a commercial turning point for large‑scale, dispatchable renewable infrastructure in the Gulf and globally.
Masdar closes Dh18.73bn financing
Masdar said the financing package totals Dh18.73 billion (approximately $5.1 billion) provided by a consortium of leading regional and international banks. The overall project investment is Dh22.4 billion (about $6.1 billion), with Masdar contributing Dh3.67 billion (roughly $1 billion) in equity. Company officials described the close as validation of the project’s commercial viability and the strength of investor confidence in large‑scale clean energy infrastructure.
Project design of 5.2GW solar with 19GWh battery storage
The project pairs 5.2GW of solar photovoltaic generating capacity with a battery storage system sized at 19GWh, one of the largest single‑site storage deployments planned worldwide. That combination is designed to smooth solar output and make renewable electricity available around the clock, addressing the intermittency challenge that has limited renewables as firm power sources. Developers say the integrated design will support reliable grid supply to meet rising demand from data centers, AI services and advanced industries.
Financing backed by a 13‑bank consortium
A coalition of 13 banks led the financing, reflecting broad sector support from public and private lenders. Participants include 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 and Société Générale. The breadth of the syndicate underscores institutional appetite for bankable, long‑tenor financing of clean energy projects that deliver sustained cash flows.
Commercial milestone for round‑the‑clock renewable power
Analysts and government planners regard the deal as a proof point that 24/7 renewable energy projects can move beyond pilot stages to mainstream, financed infrastructure. By attracting major lenders, the transaction signals that dispatchable renewables are commercially bankable and can compete with traditional baseload and peaking plants. Officials highlighted the project’s role in delivering competitively priced, dependable power while accelerating the decarbonisation of industrial and digital sectors.
Collaboration with Emirates water and electricity authorities
Masdar is developing the project in partnership with the Emirates Water and Electricity Company, aligning the new capacity with national grid planning and utility operations. The strategic collaboration aims to integrate the facility into Abu Dhabi’s broader energy system and support long‑term supply stability. Stakeholders have emphasised coordination on technical integration, grid readiness and offtake arrangements to ensure the project delivers on its reliability commitments.
Schedule and commissioning target
Construction work follows the project’s groundbreaking in October 2025, with commercial operations expected in 2027 according to the developer’s timeline. Masdar has committed to an implementation schedule that includes staged commissioning and testing of both the solar arrays and storage components. Meeting the 2027 target will be critical to aligning new capacity with forecast increases in electricity demand driven by digital infrastructure and industrial expansion.
Masdar’s global portfolio and 2030 ambitions
Masdar currently manages a global renewables portfolio exceeding 65GW of installed or contracted capacity, spanning solar, onshore and offshore wind, hybrid systems and storage technologies. The company is pursuing an objective to expand to 100GW by 2030, a push that relies on both organic project development and partnerships across major growth markets. Executives said the latest financing demonstrates Masdar’s ability to attract international capital and accelerate delivery of complex, utility‑scale clean energy assets.
The financial close of this Masdar 24/7 renewable energy project marks a significant step for the UAE’s clean energy roadmap and for international efforts to commercialise dispatchable renewables. With nearly Dh22.4 billion slated for total investment and a multisourced financing package behind it, the project is positioned to supply firm renewable power while helping to diversify the national energy mix. As construction advances toward the 2027 operating target, utilities, industrial consumers and financial markets will be watching how the facility performs as a template for future round‑the‑clock clean energy projects.