Construction has officially commenced on the Emirates Water and Electricity Company’s (EWEC) 1.5 GW Al Ajban solar project led by EDF Renewables Middle East in partnership with Masdar and Korea Western Power Co. (KOWEPO) in Abu Dhabi, UAE.

The project will feature more than 3 million solar panels mounted on single-axis trackers.

Once operational in Q3 2026, Al Ajban is expected to generate enough electricity to power 160,000 homes and reduce carbon dioxide emissions by over 2.4 million tons annually.

The Al Ajban project reached financial close in September after securing funding from six banks, including BNP Paribas, Credit Agricole CIB, and HSBC Middle East.

Masdar holds a 60% majority stake in the project, while EDF Renewables and KOWEPO own a 20% stake each.

Under a 30-year Power Purchase Agreement  with EWEC, the consortium will design, finance, build, and operate the project.

The Al Ajban project is part of the UAE Net-Zero by 2050 strategic initiative and is the third utility–scale solar park in the Emirate of Abu Dhabi.

Masdar is advancing solar, wind, geothermal, battery storage, and green hydrogen technologies, with a goal of reaching a 100 GW renewable energy portfolio and becoming a top producer of green hydrogen by 2030.

The company recently signed an investment agreement with its partners to develop a 1 GW wind energy project in Kazakhstan’s Jambyl region. The project will include a 600 MWh Battery Energy Storage System.

In September, Masdar and Dubai Water and Electricity Authority signed an agreement to construct and operate the 1.8 GW sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park. The project will cost up to AED5.51 billion (~$1.5 billion).

Its partner on this project, EDF Renewables, had a net installed capacity of 12.8 GW by the end of 2023.

South Korea’s KOWEPO is expanding its global presence, actively investing in renewable energy projects such as solar and wind, with the aim of achieving 25% of its projected production from renewable sources by 2030.