A global clean energy firms ENGIE and Masdar, have announced the financial close of the 1.5 GW Khazna solar photovoltaic project located between Abu Dhabi and Al Ain in the UAE. The project was awarded in October 2025 and is being developed under a 30-year power purchase agreement signed with Emirates Water and Electricity Company. ENGIE and Masdar are responsible for the project’s design, financing, construction and operation. Financing is arranged with seven regional and international banks. The facility is scheduled for commercial operation in 2028 and is expected to supply electricity to around 160,000 households. It is projected to reduce Abu Dhabi’s COâ‚‚ emissions by more than 2.4 million tons per year. Khazna Solar PV is the first project implemented under a cooperation agreement between ENGIE, LONGi and PowerChina covering large-scale solar developments in the Middle East and North Africa.