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ABU DHABI, 18th April, 2023 (WAM) — Abu Dhabi Future Energy Company, Masdar, celebrated its 17th anniversary this month, continuing its journey of achievements and leadership in clean energy and green hydrogen .
Established in April 2006, Masdar embodies the forward-looking vision of the UAE leadership to advance the country’s efforts in the energy sector, diversify its economy and energy sources, and drive progress towards sustainable development and climate action.
Seventeen years ago, the UAE leadership ordered the establishment of Masdar and directed the company’s CEO and founder and current Chairman of the Board, Dr. Sultan Ahmed Al Jaber to establish, manage and grow its business and oversee its strategy.
The company then advanced, becoming the first company to lead the nation’s innovation efforts in clean energy and sustainable development. Today, as one of the fastest growing clean energy companies in the world, Masdar is one of the main contributors to the diversification of Abu Dhabi’s economy.
Masdar is active in more than 40 countries on six continents and has invested or committed to invest in international projects worth more than US$30 billion with a capacity of more than 20 gigawatts (GW). It’s enough to power 5.25 million homes, offset 30 million tons of CO2 a year, and is equivalent to taking 6.5 million cars off the road.
In 2022, Masdar has strengthened its position as a leading international company in the green energy sector through strategic agreements with Abu Dhabi National Oil Company (ADNOC), Abu Dhabi National Energy Company (Taqa) and Mubadala, enabling Each entity is able to own a stake in Masdar to create an international portfolio of renewable energy and green hydrogen. The company aims to reach 100 GW of renewable energy capacity by 2030.
With the Year of Sustainable Development and UAE hosting COP28, Masdar will help accelerate progress towards sustainable development and support the country’s commitment to become a major developer, owner and operator of renewable energy and green hydrogen projects globally one.
Mohammed Jameel Al Ramahi, CEO of Masdar, said the decision to establish the company underscores the vision of the country’s leadership and its passion for investing in innovative technologies and promoting and developing commercially viable clean energy solutions in support of national development process to achieve economic diversification.
Al Ramahi emphasized that through its new structure and the expertise of its partners, Masdar will continue its leading role as a global investor in renewable energy and green hydrogen projects, doubling its project portfolio and exploring support for the global climate More investment opportunities to act and help drive efforts towards the UAE’s strategic initiative to achieve net zero emissions by 2050.
successful journey
Since its inception, Masdar has completed many leading projects in solar or wind energy. In March 2013, Masdar launched the Shams solar power plant, one of the largest concentrated solar power plants in the world and the largest renewable energy project in the Middle East.
Masdar has cooperated with major international companies to build a 100-megawatt solar power plant. The Shams project also supports diversification of the country’s energy mix and reduction of carbon emissions.
Additionally, Masdar has completed the third phase of the 800 MW Mohammed bin Rashid Al Maktoum Solar Park in Dubai. The project was developed by a consortium led by Masdar in partnership with the Dubai Electricity and Water Authority (DEWA) and EDF Renewables.
Masdar has partnered with the BEEAH Group to develop the Sharjah Waste-to-Energy Plant, the first commercial plant of its kind in the Middle East.
Globally, the company has implemented groundbreaking projects including Hywind Scotland in the UK, the world’s first floating offshore wind farm. The 30-megawatt farm powers nearly 6,600 homes. The company has also developed the London Array offshore wind farm, which caters to more than 500,000 homes.
In Serbia, the company developed the Çibuk 1 wind farm, the largest utility-scale commercial wind project in Serbia and the Western Balkans. The 158-megawatt power plant serves the clean and sustainable electricity needs of nearly 113,000 households, in addition to offsetting 370,000 tons of carbon emissions.
Regionally, Masdar has developed the Dhofar Wind Farm, the first large-scale wind farm in the Gulf Cooperation Council (GCC), generating 50 megawatts, enough to power nearly 16,000 homes.
In Saudi Arabia, Masdar developed the 400 MW Dumat Al Jandal wind farm, the first wind farm in Saudi Arabia and the largest in the Middle East. The wind farm provides electricity to nearly 70,000 homes in the country.
The EDF Renewables and Nesma consortium led by Masdar is developing a 300 MW utility-scale solar photovoltaic (PV) plant in Jeddah, Saudi Arabia.
projects and agreements
Masdar has recently started up several solar and wind power plants and has signed agreements to develop future projects in a number of countries. In February, the company officially launched the 200 MW Bainouna solar power plant in Jordan.
In addition, the company recently announced the inauguration of the Ile de Romainville Solar Park, a 5 MW solar plant with battery storage in the Seychelles.
In 2022, the company also announced the official launch of the 230 MW Garadagh solar photovoltaic power plant in Azerbaijan.
Masdar recently announced its foray into geothermal energy through a strategic investment in Pertamina Geothermal Energy, one of the largest geothermal energy companies in the world.
In February, the company opened a commercial office in Azerbaijan’s capital, Baku, as part of its commitment to support the development of the country’s renewable energy sector.
Masdar will work with the Azerbaijani government and other partners to accelerate the development of the renewable energy sector in line with the country’s relentless efforts to achieve its clean energy goals and transition to a low-carbon future.
Masdar has signed a joint development agreement with the State Oil Company of the Republic of Azerbaijan (SOCAR) for onshore wind and solar projects and jointly launched offshore wind and green hydrogen projects with a total installed capacity of 4 GW.
The company has signed an agreement to develop a wind power project with a capacity of 1 GW in Kazakhstan, Masdar’s first investment in the country. It also signed an agreement with the Ministry of Energy of Kyrgyzstan to develop a series of renewable energy projects with a capacity of 1 GW in the country.
In March, Infinity Power, owned by Masdar and Infinity, acquired 100% of Lekela Power, an African-based wind power platform. Infinity Power’s portfolio of renewable energy projects totals 1.3 GW, in addition to projects under development expected to generate 13.8 GW.
Masdar recently announced plans to develop three photovoltaic power plants in Uzbekistan with a total installed capacity of nearly 900 MW. The company also strengthened its presence in the US renewable energy market by purchasing a 50% stake in the Big Beau project from EDF Renewables North America.
green hydrogen
Masdar is drafting advanced plans to support the establishment of a green hydrogen economy, which will be one of the cornerstones of the energy transition and a future energy source that supports global efforts to reduce carbon emissions. The company, whose activities in hydrogen production date back to 2008, now believes the time has come to accelerate investment in the technology to drive the world’s clean energy transition.
When it comes to green hydrogen, Masdar has taken a smart leadership approach by developing and investing in strategic projects and building a platform that can be launched in key markets.
These efforts will help support global carbon reduction efforts and the UAE’s efforts to achieve climate neutrality, while raising Abu Dhabi’s profile by advancing the local green hydrogen industry to diversify the economy.
Within this framework, Masdar has signed and implemented agreements for several projects, including with the Abu Dhabi Department of Energy, Etihad Airways, Lufthansa, Khalifa University of Science and Technology, Siemens Energy and Marubeni Corporation A partnership has been established to build a pilot green hydrogen plant in Masdar City, which will convert carbon dioxide into sustainable aviation fuel.
In addition, Masdar has partnered with ADNOC and BP to develop clean hydrogen centers in the UAE and the UK.
In January 2022, Masdar and Engie announced a partnership with Fertiglobe to jointly develop a globally competitive 200 MW green hydrogen facility in the UAE to support green ammonia production.
Furthermore, last year, the Masdar-led consortium signed two memorandums of understanding (MoUs) with relevant Egyptian authorities to collaborate on the development of two green hydrogen plants. The consortium aims to produce nearly 480,000 tonnes of green hydrogen per year.
Masdar recently signed an agreement with the Port of Amsterdam, SkyNRG, Evos Amsterdam and Zenith Energy to develop a green hydrogen supply chain between Abu Dhabi and Amsterdam to support the Dutch and European markets.
awareness platform
Since its inception, Masdar has worked to raise awareness of major challenges related to sustainability, clean energy and climate change. The company has maintained a strong presence in this area by launching a series of initiatives and sustainability platforms, most notably the Abu Dhabi Sustainability Week (ADSW), held annually in the UAE capital, an Important international event aimed at enhancing adoption of clean energy and technologies.
ADSW also prioritizes women and youth and has established two platforms aimed at training them to be leaders in sustainable development.
ADSW 2023 was a major success and with the theme “Uniting for Climate Action at COP28”, it was the first global event of the year to discuss sustainable development issues.
Its agenda includes the first ever Green Hydrogen Summit hosted by Masdar Green Energy. The event was attended by more than 50 leading figures in the field of green hydrogen, as well as key officials from the legislative and policy fields.
On the sidelines of ADSW, Masdar announced several international projects and agreements in line with its goal of increasing clean energy capacity to 100 GW by 2030.
Zayed Sustainability Prize
In 2008, Masdar established the Zayed Sustainability Prize to recognize innovators and pioneers in the fields of energy and sustainable development in five categories: Energy, Food, Water, Health and International High School.
Since its inception, the awards have honored 106 recipients whose projects and solutions have helped positively change the lives of more than 378 million people. The award recently introduced a ‘Climate Action’ category.
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