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.