Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has announced a landmark structured financing transaction valued at USD 500 million in support of Mass Group Holding. The financing will be used to develop a large-scale energy project in Europe, reinforcing the bank’s commitment to supporting strategic infrastructure investments beyond regional markets.
The funding will support the construction of a 1.7 GWh natural gas-fired power plant in northwest Romania, which is expected to be the largest facility of its kind in Europe. With a total project value estimated at EUR 1.2 billion, the power plant is set to play a critical role in strengthening Europe’s energy security while driving economic growth in Romania.
The project’s strategic location will enhance Romania’s energy infrastructure and enable electricity supply to neighboring countries, including Hungary, Ukraine, Moldova, Bulgaria, and Serbia. Romania’s established gas interconnections with Hungary and Ukraine will ensure a stable and reliable natural gas supply for the plant’s operations. Electricity generation is expected to begin in the first quarter of 2026, with full operations scheduled by the end of the same year.
This transaction reflects Emirates Islamic’s broader strategy of supporting its clients’ international expansion and financing essential infrastructure projects in key global markets. The bank continues to focus on providing innovative, Shariah-compliant financing solutions that contribute to sustainable development, economic resilience, and long-term value creation.
Commenting on the agreement, Mohammad Kamran Wajid, Deputy Chief Executive Officer of Emirates Islamic, said that the financing solidifies the bank’s position as a leading regional Islamic financier with strong expertise in structured transactions. He added that the project represents more than financial support, as it contributes to energy resilience, economic advancement, and a greener future.
Ahmed Ismael Saleh, Chairman of Mass Group Holding, expressed pride in partnering with Emirates Islamic, noting that the bank’s innovative financing solutions were instrumental in realizing the project. He stated that the USD 500 million funding marks a significant milestone for Mass Group Holding and represents a major step forward for Europe’s evolving energy landscape.
Emirates Islamic continues to strengthen its position as a leader in Islamic finance by delivering innovative financial structures and advancing Shariah-compliant product development. Through such initiatives, the bank remains committed to supporting large-scale projects that contribute to sustainable economic growth across global markets.