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Masdar and EWEC Advance $6.1 Billion Round-the-Clock Solar and Storage Project

Masdar and Emirates Water and Electricity Company are developing a $6.1-billion continuous clean energy project in Abu Dhabi. The system integrates a 5.2 GW solar photovoltaic plant with 19 GWh of battery energy storage to supply 1 GW of baseload power. A 13-bank consortium that includes Bank of China is providing a $5.1-billion financing package.

Published Source: Engineering News
Illustration: A wide-angle editorial shot of vast desert solar photovoltaic arrays alongside rows of utility-scale battery energy storage units in the
Illustration

Abu Dhabi Future Energy Company (Masdar) and Emirates Water and Electricity Company (EWEC) are advancing the world's first gigascale 24/7 renewable-energy project in Abu Dhabi, according to a report by Engineering News.

The project integrates a 5.2 GW solar photovoltaic plant with 19 GWh of battery energy storage to supply 1 GW of continuous clean power, designed to resolve intermittency and deliver utility-scale baseload electricity.

Total capital expenditure is set at $6.1 billion, which includes $1 billion in equity funding from Masdar alongside a $5.1-billion debt financing package provided by a consortium of 13 domestic and international banks.

The lending consortium includes Bank of China, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, BNP Paribas, Crédit Agricole Corporate and Investment Bank, Dubai Islamic Bank, First Abu Dhabi Bank, HSBC, KfW IPEX-Bank, Natixis, Sumitomo Mitsui Banking Corporation, Standard Chartered Bank, and Societe Generale.

Masdar achieved financial close for the project on July 13, 2026, and the development is scheduled to become operational in 2027.

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