Masdar reaches financial close for $6.1 billion clean energy project

Abu Dhabi Future Energy Company, Masdar, has announced financial close for the world's first gigascale 24/7 renewable energy project, marking a defining milestone in the commercialisation of the next generation of clean energy infrastructure.

Backed by a consortium of 13 leading international and local banks, the $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 $6.1 billion, with Masdar funding $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 comprising 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, and 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 centres 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.

"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," said Mazin Khan, Chief Financial Officer at Masdar.

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.