ENGIE and Masdar Secure Financial Close for Khazna Solar PV Project in Abu Dhabi

ENGIE and Masdar have achieved a significant milestone with the financial closure of the Khazna Solar PV project in Abu Dhabi. The 1.5 GW project is set to become one of the largest solar photovoltaic installations in the region and the largest ever by ENGIE. Scheduled for commercial operation by 2028, it will power approximately 160,000 homes and cut carbon emissions by over 2.4 million metric tons annually. This aligns with the UAE's strategic goal of achieving net zero emissions by 2050.

The project's financial backing comes from seven prominent banks, including Crédit Agricole and BNP Paribas. This initiative is part of a broader strategic partnership with LONGi and PowerChina, focusing on large-scale projects in the Middle East and North Africa. It highlights ENGIE's commitment to supporting the energy transition and enhancing energy security.