Abu Dhabi future energy company Masdar has reached financial close on a 5.2 GW solar photovoltaic plant paired with a 19 GWh battery energy storage system (BESS) in Abu Dhabi, a configuration the developer says is the world's first gigascale renewable project capable of delivering power around the clock. Total capital investment is put at US$6.1 billion.
The financing package comprises US$5.1 billion in debt provided by a consortium of 13 regional and international lenders — including First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, HSBC, Standard Chartered, BNP Paribas, Bank of China, KfW IPEX-Bank, Natixis, Société Générale, Crédit Agricole CIB, Sumitomo Mitsui Banking Corporation and Dubai Islamic Bank — alongside US$1 billion of equity from Masdar. The project is being developed with Emirates Water and Electricity Company (EWEC).
Battery supply is split between two Chinese suppliers, with BYD providing 11.275 GWh and Sungrow delivering 7.5 GWh of its PowerTitan 3.0 system together with 2.6 GW of PV inverters. Jinko Solar and JA Solar were selected as module suppliers. Masdar broke ground on the project in October 2025, with commercial operations expected in 2027.
The project is designed to deliver a continuous 1 GW of clean power, day and night, by storing surplus daytime solar generation and discharging it overnight. Masdar has linked the plant to the UAE's ambition to become a global hub for artificial intelligence research, and the project is widely expected to help power energy-hungry data centers, although no offtaker has been formally confirmed.
The financial close is being read by lenders and developers as evidence that round-the-clock renewable power has crossed from demonstration to bankable infrastructure. IRENA reported in May 2026 that firm 24/7 solar-and-storage systems had fallen to as little as US$54/MWh in the best locations. Once operational, the plant is expected to create more than 10,000 jobs and avoid roughly 5.7 million tonnes of CO2 emissions a year.
All figures, including the 13-lender list, cross-checked against the primary release, September 2026.