Overview
- Masdar reached financial close on a $5.1 billion debt package on Monday toward the $6.1 billion project, committing $1 billion of equity to the build.
- The facility pairs a 5.2 gigawatt solar photovoltaic plant with a 19 gigawatt‑hour battery energy storage system to deliver continuous, round‑the‑clock power.
- A consortium of local and international lenders, including Abu Dhabi Commercial Bank, BNP Paribas, Bank of China, HSBC and Standard Chartered, provided the financing.
- Construction began after Masdar broke ground in October 2025 on the roughly 90 square kilometre site and the company expects the project to enter commercial operations in 2027.
- Masdar says the deal proves gigascale 24/7 renewables are bankable, supports UAE energy security and economic diversification, and advances its goal to reach 100 GW of capacity by 2030.