Masdar, Abu Dhabi’s energy company, has secured a combined $6.1 billion financing package for a landmark renewable energy project in Abu Dhabi, integrating a 5.2GW solar photovoltaic (PV) plant with a 19GWh battery energy storage system (BESS).

Advised by global law firm A&O Shearman, the Round-the-Clock (RTC) renewable energy project is set to become one of the world’s largest and most advanced solar-plus-storage systems, designed to provide reliable clean power around the clock.

The project’s $5.1 billion debt financing is backed by a consortium of 13 international and local banks, reflecting strong investor confidence in its commercial viability and Masdar’s ability to deliver large-scale energy infrastructure. 

Masdar will contribute $1 billion in equity, with the project being developed in partnership with Emirates Water and Electricity Company (EWEC).

The RTC project aims to enhance grid stability, support year-round electricity supply, and meet rising demand from energy-intensive sectors, including data centres, as well as peak summer consumption periods.

A&O Shearman said the development reinforces Abu Dhabi’s position as a global leader in renewable energy innovation and could serve as a model for future large-scale clean energy projects across the Middle East and beyond.

“This landmark development and financing demonstrate the confidence of regional and international financiers in the viability of solar-plus-storage as a baseload power solution,” said Joe Clinton, partner at A&O Shearman. “The scale and complexity of this project — combining 5.2GW of solar PV with 19GWh of battery storage to deliver round-the-clock renewable energy — underscores the sophistication of the region’s project finance markets and their ability to support first-of-a-kind structures, even in a challenging regional and global environment.”