By Abdullahi Lukman
Renewable energy company Masdar has reached financial close on a $5.1 billion financing package for what it describes as the world’s largest renewable energy project capable of delivering round-the-clock electricity, marking a major milestone in the commercialization of large-scale clean energy infrastructure.
The project, being developed in Abu Dhabi in partnership with the Emirates Water and Electricity Company (EWEC), combines a 5.2-gigawatt solar photovoltaic plant with a 19-gigawatt-hour battery energy storage system to provide continuous baseload renewable power. The total investment is estimated at $6.1 billion, with Masdar contributing $1 billion in equity.
According to the company, the financing package is backed by a consortium of 13 local and international banks, reflecting strong investor confidence in the project’s commercial viability and Masdar’s capacity to execute large-scale renewable energy developments.
Construction on the project began in October 2025, with commercial operations expected to commence in 2027.
Masdar Chief Financial Officer, Mazin Khan, said the successful financial close highlights the company’s ability to attract global capital for innovative energy infrastructure that supports long-term economic growth and energy security.
The lenders participating in the financing 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 Bank and Société Générale.
Masdar said the transaction demonstrates that utility-scale renewable energy projects capable of supplying uninterrupted electricity have progressed from technical concepts to commercially viable investments.
