Abu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader, has achieved the financial close of its gigascale 24/7 renewable energy project. In a press release, the company said the project supports the commercialization of the next generation of clean energy infrastructure.
Masdar said the project is backed by a consortium of 13 leading international and local banks, with a US$5.1 billion financing package reflecting strong confidence in the project. The project comprises a total capital investment of around US$6.1 billion, with Masdar contributing US$1 billion in equity. The RTC project is being developed in Abu Dhabi by Masdar and Emirates Water and Electricity Company (EWEC). It integrates a 5.2 GW solar photovoltaic (PV) plant with a 19 gigawatt-hour (GWh) battery energy storage system (BESS), making it the largest and most technologically advanced project of its kind in the world.
Financial Backing from 13 Banks
The financing was provided by a consortium of lenders, including 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 Société Générale.
The financial close demonstrates that large-scale renewable energy projects capable of delivering round-the-clock power have evolved from technical ambition into 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 while addressing 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.
“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,” said Mazin Khan, Chief Financial Officer at Masdar. “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.”
Masdar broke ground on the project in October 2025, and it is expected to become 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 65 GW 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. With a clear pathway to achieving 100 GW of renewable energy capacity by 2030, Masdar continues to expand its global platform through disciplined growth across priority markets, delivering reliable and affordable clean power to meet the world’s rapidly growing electricity demand.
