January 7, 2026 – Dubai, UAE: Emirates Islamic, one of the UAE’s leading Islamic financial institutions, has announced a landmark $500 million structured financing transaction in support of Mass Group Holding.
The funding will be used to construct a natural gas-fired power plant with a capacity of 1.7 GWh in northwestern Romania, making it the largest facility of its kind in Europe. The total project value is estimated at €1.2 billion, positioning the plant as a key contributor to Europe’s energy security and a major driver of Romania’s economic growth.
The new plant will strengthen Romania’s energy infrastructure while supporting neighboring countries. Romania’s electricity grid is interconnected with Hungary, Ukraine, Moldova, Bulgaria, and Serbia, ensuring a robust and reliable power supply across the region. Additionally, gas grid connections with Hungary and Ukraine guarantee a steady supply of natural gas, essential for the facility’s operations. The plant is expected to begin electricity generation in Q1 2026, with full operational capacity targeted by the end of the year.
Through this financing agreement, Emirates Islamic reinforces its strategic commitment to supporting clients’ international ventures, particularly in developing critical energy infrastructure in key regions. The bank’s mission is to deliver comprehensive financial solutions that enable customers to achieve their goals while contributing to broader economic growth and sustainability.
Mohammad Kamran Wajid, Deputy CEO of Emirates Islamic, said:
“The financing agreement with Mass Group Holding solidifies Emirates Islamic’s position as a leading regional Islamic financier, known for structured financing excellence. This agreement underscores our commitment to ethical banking and Shariah-compliant solutions that meet the evolving needs of the market. Our role in developing Europe’s largest gas-fired power plant is not just financial; it represents a meaningful step toward energy resilience, economic advancement, and a greener future.”
Ahmed Ismael Saleh, Chairman of Mass Group Holding, added:
“We are proud to partner with Emirates Islamic. Their commitment to innovative financing has been instrumental in bringing this ambitious project to life. The $500 million funding marks a significant milestone for Mass Group Holding and the European energy sector, reflecting our vision for a secure and sustainable energy future.”
Emirates Islamic continues to lead in providing innovative Shariah-compliant financial structures, setting the benchmark for Islamic finance in the region and beyond.
