Emirates Islamic Provides USD 500 Million Structured Financing to Mass Group Holding
Emirates Islamic, one of the UAE’s leading Islamic financial institutions, has announced a landmark structured financing transaction worth USD 500 million in support of Mass Group Holding. The funding will be used to develop a large-scale natural gas-fired power plant in Romania, set to become the largest of its kind in Europe.
The project involves the construction of a power plant with a capacity of 1.7 GWh, forming part of a wider development with an estimated total value of EUR 1.2 billion. Once completed, the facility is expected to play a significant role in strengthening Europe’s energy security while contributing to Romania’s economic growth and infrastructure development.
Located in north-west Romania, the new power plant is strategically positioned within a well-connected regional energy network. Romania’s power grid is interconnected with Hungary, Ukraine, Moldova, Bulgaria, and Serbia, supporting cross-border energy reliability. In addition, Romania’s gas grid connections with Hungary and Ukraine are expected to ensure a stable supply of natural gas for the plant’s operations. Electricity generation is scheduled to begin in the first quarter of 2026, with full operations anticipated by the end of the year.
Through this transaction, Emirates Islamic reinforces its commitment to supporting clients’ international business expansion, particularly in the development of critical energy infrastructure in key global markets. The financing aligns with the bank’s strategy of delivering Shariah-compliant solutions that enable sustainable growth across essential sectors while supporting broader economic development.
Mohammad Kamran Wajid, Deputy Chief Executive Officer of Emirates Islamic, said the agreement highlights the bank’s expertise in structured Islamic financing and its focus on ethical banking principles. He noted that supporting the development of Europe’s largest gas-fired power plant reflects the bank’s contribution to energy resilience, economic progress, and long-term sustainability.
Ahmed Ismael Saleh, Chairman of Mass Group Holding, said the partnership with Emirates Islamic has been instrumental in advancing the project. He added that the financing marks a major milestone for the company and represents a significant contribution to the future of Europe’s energy landscape.
Emirates Islamic continues to strengthen its position as a regional leader in Shariah-compliant financial innovation, providing advanced Islamic financing structures to support large-scale projects and strategic investments across international markets.
