{"id":111693,"date":"2026-01-20T00:00:00","date_gmt":"2026-01-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?p=111693"},"modified":"2026-01-20T03:33:32","modified_gmt":"2026-01-20T03:33:32","slug":"another-day-another-masdar-project-reaches-financial-close","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2026\/01\/20\/another-day-another-masdar-project-reaches-financial-close\/","title":{"rendered":"Another day, another Masdar project reaches financial close"},"content":{"rendered":"

Masdar<\/strong> added another <\/strong>project to its streak of financial closes<\/strong> \u2014 this time at home \u2014 securing financing alongside Engie for the 1.5 GW Khazna solar project, according to a press release<\/a>. Khazna is a key part of Ewec\u2019s strategy to cover 60% of the emirate\u2019s power demand with renewables by 2035. The Abu Dhabi project is scheduled to come online by 2028 and will power some 160k homes.<\/p>\n

Masdar has already reached financial close on several projects this month<\/strong>, including Oman\u2019s USD 300 mn Ibri III solar and battery energy storage project<\/a> and a USD 225 mn Guzar solar and battery storage project in Uzbekistan<\/a>. It also secured a contract for difference for the 3 GW Dogger Bank South (DBS) wind farm in the UK.<\/p>\n

Financing is locked with seven regional and international lenders<\/strong>, including Abu Dhabi Islamic Bank, Cr\u00e9dit Agricole Corporate and Investment Bank, KfW IPEX, BNP Paribas, HSBC, Sumitomo Mitsui Trust Bank, and Emirates Development Bank. The project\u2019s total cost wasn\u2019t disclosed.<\/p>\n

Background: <\/strong>Ewec awarded the independent power project to France\u2019s Engie and local shareholder Masdar back in October<\/a>, signing an energy purchase agreement where Ewec pays only for the net power generated by the plant, while Engie and Masdar are responsible for designing, building, and operating the facility. In November, China\u2019s SEPCO3 signed<\/a> an engineering, procurement, and construction contract for the project, alongside module supplier Longi and main developer Engie.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Abu Dhabi plant, scheduled to come online in 2028, should power some 160k homes<\/p>\n","protected":false},"author":1,"featured_media":111694,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1795],"tags":[1391,7,171,211,406],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-111693","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-renewables","tag-debt","tag-enterpriseam-uae","tag-masdar","tag-renewables","tag-solar-energy","wpautop","entry"],"acf":{"mongo_id":"3748859f-a700-48aa-89fb-ac46e9726aac","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/1\/701.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Another day, another Masdar project reaches financial close","related_issue":[111679],"teaser":"The Abu Dhabi plant, scheduled to come online in 2028, should power some 160k homes","photo_link":"","related_sponsor":"","voice_url":"","en_translation_ref_id":"","section_story_id":""},"yoast_head":"\nAnother day, another Masdar project reaches financial close - 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