Abu Dhabi’s Masdar has closed a $5.1bn debt package for a $6.1bn solar-and-storage plant with the Emirates Water and Electricity Company, setting a financing benchmark for uninterrupted clean power.
Masdar has reached financial close on its $6.1bn round-the-clock clean energy project in Abu Dhabi, raising $5.1bn in debt from a consortium of international and local banks. The company confirmed the milestone in a statement on 13 July, as reported by The National.
Masdar is funding $1bn of equity, with the remaining $5.1bn provided by 13 international and local banks. It is developing the plant with the Emirates Water and Electricity Company (EWEC). The project pairs a 5.2 gigawatt (GW) solar photovoltaic plant with a 19 gigawatt-hour (GWh) battery energy storage system to supply clean power around the clock. It covers 90 square kilometres. Masdar launched the scheme in January 2025, broke ground in October and expects it to start operating in 2027.
The financing “demonstrates strong market confidence in both the project’s commercial viability and Masdar’s ability to deliver complex energy infrastructure at scale”, the company said. Mazin Khan, chief financial officer at Masdar, said the commitment showed the company’s ability to mobilise global capital at scale. UAE lenders in the group include Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank and First Abu Dhabi Bank.
International banks including BNP Paribas, HSBC, Standard Chartered, Bank of China, Natixis, Societe Generale, Credit Agricole, KfW IPEX-Bank and Sumitomo Mitsui Banking Corporation also took part. Masdar is jointly owned by Taqa, Adnoc and Mubadala. It holds a renewables portfolio of more than 65 GW and targets 100 GW by 2030. The company invested $15bn in clean energy projects worldwide in 2025.
Global electricity demand is forecast to rise 3.6% a year to 2030, driven by data centres, industry and cooling, the International Energy Agency said. Firm clean supply is central to meeting that growth without adding emissions.
The plant combines solar generation with large-scale storage to supply power without interruption, which addresses the intermittency of renewables. Masdar said the close shows round-the-clock renewable projects have moved from technical ambition to bankable infrastructure. For UAE investors and lenders, the deal gives a reference point for financing utility-scale clean power that runs day and night.
