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Masdar reaches financial close on $5.1 billion solar and battery project
The Abu Dhabi gigascale project is budgeted at $6.1 billion total capital, including $1.0 billion of equity from Masdar.
Masdar said it has reached financial close on a $5.1 billion financing package for a gigascale round-the-clock renewable energy project being developed in Abu Dhabi, with the deal backed by a consortium of 13 international and local banks.
The project will require $6.1 billion in total capital investment, and Masdar plans to fund $1.0 billion of the equity as part of the financing structure.
According to the company, the development combines a 5.2-GW solar photovoltaic plant with a 19-gigawatt-hour battery energy storage system, developed together with the Emirates Water and Electricity Company.
Masdar added that it broke ground in October 2025 and expects the project to be operational in 2027, describing the 24/7 renewable project as a contributor to the UAE clean energy strategy, including energy security and economic diversification, according to OilPrice.