Masdar secures $5.1 bn financing for world’s first 24/7 renewable power project in Abu Dhabi

Abu Dhabi Future Energy Company (Masdar) and Emirates Water and Electricity Company (EWEC) have reached financial close on a $5.1 bn debt financing package, bringing total investment in the project to $6.1 bn. The development combines a 5.2 GW solar photovoltaic plant with a 19 GWh battery energy storage system, designed to deliver up to 1 GW of uninterrupted clean electricity 24 hours a day, 7 days a week.

The financing was arranged by a syndicate of 13 international and regional banks, including Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, BNP Paribas, Bank of China, Crédit Agricole, Dubai Islamic Bank, First Abu Dhabi Bank, HSBC, KfW IPEX‑Bank, Natixis, Sumitomo Mitsui, Standard Chartered and Société Générale. Construction began in October 2025 and commercial operation is targeted for 2027.

Masdar says the project marks a milestone for large‑scale renewable energy, demonstrating that integrated solar‑plus‑storage can move from technical ambition to commercially bankable infrastructure. It aligns with the United Arab Emirates’ clean‑energy strategy, supporting energy security, economic diversification and the goal of reaching 100 GW of renewable capacity by 2030.