Masdar reaches financial close for world-first US$6.1 billion gigascale 24/7 clean energy project

• Financial close achieved for world's first gigascale Round-the-Clock (RTC) renewable energy project, representing total investment of US$6.1 billion.
• US$5.1 billion financing package backed by 13 leading international and local banks demonstrates strong confidence in project's commercial fundamentals and Masdar's execution capabilities.
• 5.2GW solar and 19GWh battery storage project will deliver 1GW of continuous clean power, setting new benchmark for baseload clean energy.

[Abu Dhabi, United Arab Emirates, Monday, July 13, 2026]:  Abu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader, today announced financial close for the world's first gigascale 24/7 renewable energy project, marking a defining milestone in the commercialization of the next generation of clean energy infrastructure. Backed by a consortium of 13 leading international and local banks, the US$5.1 billion financing package demonstrates strong market confidence in both the project's commercial viability and Masdar's ability to deliver complex energy infrastructure at scale.

Representing a total capital investment of US$6.1 billion, with Masdar funding US$1 billion of equity, the RTC project is being developed in Abu Dhabi by Masdar and Emirates Water and Electricity Company (EWEC). Integrating a 5.2GW solar photovoltaic (PV) plant with a 19 gigawatt-hour (GWh) battery energy storage system (BESS), RTC is the largest and most technologically advanced system of its kind in the world. The financing was provided by a consortium including the following lenders:

• 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
• Hongkong and Shanghai Banking Corporation (HSBC)
• KfW IPEX-Bank
• Natixis
• Sumitomo Mitsui Banking Corporation
• Standard Chartered Bank
• Societe Generale

Financial close demonstrates that large-scale renewable energy projects capable of delivering round-the-clock power have evolved from technical ambition to commercially bankable infrastructure. As electricity demand accelerates, driven by AI, data centers, and advanced manufacturing, the project establishes a new benchmark for financing reliable, utility-scale clean energy projects and addresses the key challenge of intermittency. For Masdar, the milestone demonstrates its continued ability to attract and mobilize institutional capital and deliver increasingly complex renewable infrastructure projects in partnership with governments, utilities, and financial institutions.

"We are pleased to have secured funding from such a broad and highly respected group of local and international banks in support of this pioneering project," said Mazin Khan, Chief Financial Officer at Masdar. "This significant financing commitment demonstrates the confidence of the international banking community not only in a landmark project but also in Masdar's financial strength, disciplined execution and long-term growth strategy. This milestone further demonstrates our ability to mobilize global capital at scale while delivering innovative renewable infrastructure that supports long-term economic growth and energy security. We now look forward to advancing the project to deliver reliable, affordable, clean energy around the clock."

Masdar broke ground on the project in October 2025, and it is expected to be operational in 2027. The 24/7 renewable energy project remains a cornerstone of the UAE's clean energy strategy, contributing to energy security and economic diversification.

Masdar has a diversified portfolio of more than 65GW, spanning both established and high-growth renewable energy markets and covering the full spectrum of renewable technologies, including solar, onshore wind, offshore wind, battery energy storage and hybrid solutions. With a clear pathway to 100GW of renewable energy capacity by 2030, Masdar continues to expand its global platform through disciplined growth across priority markets, delivering reliable, affordable clean power to meet the world's rapidly growing electricity demand.