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Yesterday, Masdar reached financial close on what it calls the “world’s first gigascale Round-the-Clock (RTC) renewable energy project.” As indicated in the title, this project involves a 5.2 gigawatt (GW) solar power installation and a 19 gigawatt-hour (GWh) battery storage installation. The project will provide 1 GW of continuous clean power supply 24 hours a day, 7 days a week.
Yes, it’s a big project that required a lot of investment. The investment totaled $6.1 billion.
“Backed by a consortium of 13 leading international and local banks, the US$5.1 billion financing package demonstrates strong market confidence in both the project’s commercial viability and Masdar’s ability to deliver complex energy infrastructure at scale,” the UAE-based clean energy company wrote. These are the 13 funding organizations:
Abu Dhabi Commercial Bank
