In The Spotlight
Abu Dhabi Future Energy Company PJSC, widely known as Masdar, has officially announced the successful financial close for the world’s first gigascale 24/7 renewable energy project.
Masdar secures US$5.1bn for world-first 24/7 clean energy project
Abu Dhabi Future Energy Company PJSC, widely known as Masdar, has officially announced the successful financial close for the world’s first gigascale 24/7 renewable energy project.
This landmark achievement marks a defining milestone in the commercialisation of the next generation of clean energy infrastructure. The announcement reinforces that large-scale renewable energy projects capable of delivering round-the-clock power have successfully evolved from a technical ambition into completely bankable infrastructure.
Representing a total capital investment of US$6.1 billion, the Round-the-Clock (RTC) project is being developed in Abu Dhabi through a close collaboration between Masdar and the Emirates Water and Electricity Company (EWEC). As part of the funding structure, Masdar is providing US$1 billion of direct equity, while the remaining balance is covered by a massive US$5.1 billion financing package. Backed by a prominent consortium of 13 leading international and local banks, this significant financing package demonstrates strong market confidence in both the commercial viability of the project and Masdar’s operational ability to deliver complex energy infrastructure at scale.
A historic financing package
The extensive financing package was provided by a diverse consortium comprising Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, BNP Paribas, Bank of China, and Crédit Agricole Corporate and Investment Bank. The group of lenders also includes Dubai Islamic Bank, First Abu Dhabi Bank, the Hongkong and Shanghai Banking Corporation (HSBC), KfW IPEX-Bank, Natixis, Sumitomo Mitsui Banking Corporation, Standard Chartered Bank, and Societe Generale.
From a technological perspective, the pioneering RTC project stands as the largest and most advanced system of its kind anywhere in the world. It beautifully integrates a massive 5.2GW solar photovoltaic (PV) plant with a monumental 19 gigawatt-hour (GWh) battery energy storage system (BESS). By combining utility-scale solar generation with unprecedented battery capacity, the project directly addresses the historic challenge of intermittency that has long affected renewable power.
Technological innovation and scale
As global electricity demand accelerates rapidly, driven by the expansion of artificial intelligence (AI), data centres, and advanced manufacturing—the project establishes an important new benchmark for financing reliable, utility-scale clean energy systems. For the organisation, this financial milestone demonstrates its continued capability to attract and mobilise global institutional capital. It also highlights its expertise in delivering increasingly complex renewable infrastructure projects in close partnership with governments, utilities, and financial institutions.
Mazin Khan, Chief Financial Officer at Masdar, expressed his pleasure regarding the funding milestone, stating: “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.”
He added: “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.”
Securing the global energy supply
Masdar originally broke ground on this clean energy project in October 2025, and the entire system is fully expected to be operational in 2027. The 24/7 renewable energy project remains a core cornerstone of the UAE’s overarching clean energy strategy, contributing significantly to national energy security and broader economic diversification goals.
Masdar currently possesses a highly diversified portfolio of more than 65GW, spanning both established and high-growth renewable energy markets worldwide. Its operations cover the full spectrum of clean technologies, including solar, onshore wind, offshore wind, battery energy storage, and hybrid solutions. With a clear strategic pathway to reach 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 growing demand.
EGA has officially announced the restart of alumina production at its Al Taweelah alumina refinery in Abu Dhabi.
EGA restarts Al Taweelah Alumina Refinery in Abu Dhabi
Emirates Global Aluminium (EGA), recognised globally as the largest producer of premium aluminium, has officially announced the restart of alumina production at its Al Taweelah alumina refinery in Abu Dhabi.
The announcement, made on 10 July 2026, marks a critical step in restoring the facility's output following a temporary halt. Production at the refinery was previously suspended on 28 March due to Iranian attacks on the Khalifa Economic Zone Abu Dhabi. However, the facility successfully began producing hydrate, which serves as the essential precursor product to alumina, on 24 June.
The company expects alumina production to ramp up to 50 per cent of the plant's total capacity within a matter of days. Looking further ahead, EGA projects that it will possess the technical capability to return to full alumina production by the end of this year. The exact timing for this complete production ramp-up at the Al Taweelah alumina refinery will be determined by supply chain dynamics and the ongoing optimisation of EGA's broader alumina sourcing strategy. It is important to note that the ramp-up of primary aluminium production at the adjacent Al Taweelah smelter does not strictly depend on a full ramp-up at the alumina refinery itself.
Strategic Importance and Executive Perspective
Alumina is the fundamental feedstock required for aluminium smelters. Before the recent disruption, the Al Taweelah alumina refinery played a crucial role in EGA's supply chain. In 2025, the facility produced 2.4 million tonnes of alumina, which successfully met 46 per cent of EGA's total alumina needs. The refinery originally began production in April 2019, standing as the first alumina refinery in the United Arab Emirates and only the second across the entire Middle East. This strategic project significantly reduces the nation's reliance on imported alumina.
Abdulnasser Bin Kalban, Chief Executive Officer of Emirates Global Aluminium, noted the significance of this operational resumption. He stated: "First alumina production from Al Taweelah alumina refinery is another big milestone in our journey to restore EGA's Al Taweelah site to its position as one of the most important aluminium production complexes in the world. The dedication and agility of the team at Al Taweelah alumina refinery has enabled us to reach this milestone safely and quickly."
The refinery is strategically located directly next to the Al Taweelah smelter. Alumina is efficiently transferred to storage facilities and subsequently into the smelter via an extensive system of conveyor belts.
Emirates Global Aluminium's Global Standing
The successful restart of the Al Taweelah alumina refinery highlights EGA's resilience as an industrial powerhouse. Founded originally as Dubai Aluminium in 1975, EGA has grown into the largest industrial company in the United Arab Emirates outside of the oil and gas sector. The organisation is equally owned by the Mubadala Investment Company of Abu Dhabi and the Investment Corporation of Dubai.
EGA operates as a fully integrated aluminium producer, managing operations that span from alumina refining to the casting of primary aluminium and subsequent recycling. The company's vast infrastructure includes smelters in Jebel Ali and Al Taweelah, alongside recycling plants in Al Taweelah and the United States, as well as a speciality foundry in Germany. In 2025 alone, EGA successfully sold 2.84 million tonnes of cast metal, with value-added products accounting for 81 per cent of these sales.
A Commitment to Sustainable Industry
Beyond its immense scale, EGA has continually focused on technological advancement and sustainable operations. In 2017, EGA became the first company headquartered in the Middle East to join the Aluminium Stewardship Initiative, a global programme designed to foster greater sustainability within the industry. The company has also utilised its own proprietary technology for every smelter expansion since the 1990s and has retrofitted all of its older production lines. Furthermore, in 2021, EGA achieved a historic milestone by becoming the first company globally to produce aluminium commercially using solar power.
The Al Taweelah site itself is a testament to the vast scale of EGA's operations. Covering six square kilometres, the facility is five times larger than Al Maryah Island. The ongoing restoration of operations at this massive industrial complex ensures that EGA remains a vital economic contributor, supporting a broader sector that sustains more than 56,000 jobs across the UAE.
On the 9th of July 2026, the Ministry of Energy and Infrastructure (MoEI) inaugurated the Emirates Monitoring Center in Dubai.
Siemens & UAE launch unified Emirates Monitoring Center
On the 9th of July 2026, the Ministry of Energy and Infrastructure (MoEI) inaugurated the Emirates Monitoring Center in Dubai.
This unique national facility provides real-time monitoring of the United Arab Emirates’ integrated power network by directly linking four major electricity utilities: Emirates Water and Electricity Company (EWEC), Dubai Electricity and Water Authority (DEWA), Sharjah Electricity, Water and Gas Authority (SEWA), and Etihad Water and Electricity.
Advancing Infrastructure and Grid Resilience
Powered by the Siemens Spectrum Power platform, this centre marks a significant milestone in advancing the resilience, reliability, and ongoing digital transformation of the nation's electricity infrastructure. It provides comprehensive oversight of a network featuring an installed generation capacity of approximately 48 gigawatts.
To maintain grid stability, the Emirates Monitoring Center continuously tracks essential operational indicators, including system load, frequency, voltage, and power exchange. It also guarantees the seamless flow of vital operational data across the Emirates National Grid (ENG) corridor, which stretches from Abu Dhabi directly to the Northern Emirates.
Furthermore, the facility actively coordinates outage management and emergency responses, acting as the primary line of situational awareness during sudden system disturbances or generation outages. The expert team conducts vital resilience studies and detailed operational planning to support informed decision-making whilst working closely with EWEC, DEWA, SEWA, and Etihad Water and Electricity to navigate a constantly evolving energy sector.
Strategic Vision from the Ministry
His Excellency Eng Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at the Ministry of Energy and Infrastructure, stated: “Today marks an important milestone with the inauguration of the Emirates Monitoring Center alongside our strategic partners. The Center represents the nucleus of the UAE's national power network, providing comprehensive, real-time visibility across the country's electricity system through world-class monitoring technologies developed by Siemens.”
He added: “The Center enhances the resilience of our energy infrastructure and strengthens our ability to anticipate, manage, and respond to operational challenges both today and in the future. It will also leverage artificial intelligence capabilities to support scenario planning, predictive analysis, and future system modelling, enabling smarter, more proactive decision-making. We look forward to continuing our collaboration with our partners to advance a secure, resilient, and future-ready energy sector for the UAE.”
Fast-Track Deployment by Siemens
Helmut von Struve, Chief Executive Officer of Siemens in the UAE and the Middle East, highlighted the project's massive scale. He said: “Today marks a landmark achievement for the UAE's energy sector. The Emirates Monitoring Center is the country's first unified platform providing a single, real-time view of the national power grid, with continuous monitoring of all four utility companies across the seven emirates.”
He added: “Siemens is proud to serve as the technology partner behind this pioneering initiative. We delivered the core monitoring and control platform at record speed, achieving the world's first fast-track deployment of the latest generation of our energy management system. What truly distinguishes this project is not only the technology, but also the strong partnership between Siemens, the Ministry of Energy and Infrastructure, and the UAE's electricity utilities. The Center has been designed to grow alongside the country's evolving energy landscape, supporting renewable energy integration, future cross-border interconnections, and the continued development of a smarter, more resilient national grid.”
Commitment to Industry Innovation
Siemens AG, headquartered in Berlin and Munich, remains a leading technology company heavily focused on global infrastructure, industry, mobility, and healthcare. By uniting the digital and real worlds, Siemens directly empowers customers to accelerate critical sustainability transformations, effectively making modern cities more livable and transportation considerably more sustainable. As a recognised industrial artificial intelligence leader, the company constantly leverages deep domain know-how to apply generative AI directly to real-world applications. Furthermore, Siemens holds a majority stake in Siemens Healthineers, a leading global medical technology provider entirely focused on pioneering healthcare breakthroughs for everyone.