Masdar Secures Financial Close for USD 6.1 Billion Solar and Battery Storage Project in Abu Dhabi

Masdar has achieved financial close for its USD 6.1 billion solar and battery energy storage project in Abu Dhabi, securing the funding required to advance one of the world's largest integrated renewable energy developments.

The project received a USD 5.1 billion financing package from a consortium of 13 international and local banks, while Masdar is contributing USD 1 billion in equity.

The financing consortium includes Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, BNP Paribas, Bank of China, Credit 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.

Commenting on the milestone, Masdar Chief Financial Officer Mazin Khan said the successful financial close demonstrates the company's ability to mobilize global capital for large scale renewable energy infrastructure while supporting long term economic growth and energy security. He added that the company now looks forward to advancing the project to deliver reliable, affordable and clean electricity around the clock.

The project is being developed in partnership with Emirates Water and Electricity Company (EWEC). It will combine 5.2 GW of solar photovoltaic capacity with a 19 GWh battery energy storage system capable of supplying 1 GW of continuous renewable electricity, enabling round the clock clean power generation.

Construction of the project began in October 2025 and commercial operations are expected to commence in 2027.

For the project, Sungrow and BYD are supplying the battery energy storage systems, while JinkoSolar and JA Solar have been selected as the preferred module suppliers, with each company providing 2.6 GW of solar modules.

Masdar's global renewable energy portfolio currently exceeds 65 GW across solar, onshore and offshore wind, battery storage and hybrid projects. The company aims to expand its renewable energy capacity to 100 GW by 2030.