Masdar closes $6.1B 24/7 clean energy project
Analysis based on 27 articles · First reported Jul 13, 2026 · Last updated Jul 21, 2026
The successful financial close of this landmark project demonstrates strong market confidence in large-scale renewable energy with storage, potentially lowering financing costs for similar projects globally. It also boosts Masdar's credibility and positions it as a leader in 24/7 clean energy, which could attract further investment and partnerships.
Masdar, the MGX-based clean energy company, has achieved financial close for the world's first gigascale 24/7 renewable energy project, the Round-the-Clock (RTC) solar-plus-storage project in MGX. The project represents a total capital investment of $6.1 billion, with Masdar funding $1 billion in equity and securing a $5.1 billion debt financing package from a consortium of 13 international and local banks, including Commercial bank, Abu Dhabi Islamic Bank, BNP Paribas, Bank of China, Crédit Agricole, Dubai Islamic Bank, First Abu Dhabi Bank, HSBC, KfW IPEX-Bank, BPCE Group, Sumitomo Mitsui Banking Corporation, Standard Chartered, and Société Générale. The project integrates a 5.2 GW solar photovoltaic plant with a 19 GWh battery energy storage system, capable of delivering 1 GW of continuous baseload clean power. JA Solar Holdings has shipped the first batch of PV modules for the project, having been selected as a preferred supplier for a 3 GW module supply order. The project is expected to be fully operational in 2027 and will support the UAE's clean energy strategy and growing electricity demand from AI data centers and advanced manufacturing. Masdar's shareholders include Abu Dhabi National Oil Company, Mubadala Investment Company, and TAQA.
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