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MoU expected to generate knowledge, provide global benchmark for renewable energy
Signed during the inaugural UAE Climate Technology Forum
Collaboration between IRENA and Masdar will highlight global renewable energy targets for 2030 and outline challenges and recommendations for early action COP28
Abu DhabiUnited Arab Emirates, May 12, 2023 /PRNewswire/ — Abu Dhabi Future Energy Company PJSC – Masdar, one of the world’s leading clean energy companies, has signed an agreement with the International Renewable Energy Agency (IRENA) to collaborate on a major international knowledge project, The project sets out a method to triple the global renewable energy capacity by 2030.
During the UAE Climate Technology Forum Abu DhabiMasdar and IRENA signed a Memorandum of Understanding (MoU) to collaborate on a project COP28 This will outline global targets for renewable energy by 2030.
The MOU was signed in the presence of Dr. He Sultan Ahmed Jaberthe UAE Minister of Industry and Advanced Technology, Chairman of Masdar, and COP28 President-elect, by Mohammad Jameel Al RamahhiMasdar CEO and IRENA Deputy Director General Gauri Singh.
The main goal of the project is to establish a global baseline for renewable energy, focusing on solar, wind, hydro, geothermal and other technologies including battery storage, supplemented by region-specific data.
His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, Masdar and COP28 “The world needs to commit to tripling global renewable energy capacity by 2030 and doubling again by 2040,” the president-elect said. In the 17 years since the UAE leadership established Masdar in 2006, every kilowatt-hour The cost of solar energy has plummeted to 2 cents Now more than ever, we need to tap into this pioneering spirit. Masdar has pledged to increase its total capacity fivefold to 100GW by the end of this decade, and this joint research project with IRENA will highlight the important role of renewable energy in limiting global warming. COP28“.
Francis LaCameraIRENA Director General added: “The transition to renewable energy offers sustainable and affordable solutions to many of the challenges we face today, and we have technologies that can be deployed quickly and at scale. By 2022, innovation will be achieved. A record 300 gigawatts (GW) of renewable energy was added and renewables now account for 40% of total global installed capacity. Despite this progress, the energy transition remains off track. IRENA’s World Energy Transition Outlook shows that Deployment of renewable energy must reach 1000 GW per year to keep the 1.5 °C target alive.”
The project will also highlight the challenges different regions face in meeting their renewable energy ambitions and provide recommendations for action, especially in COP28. Recent Petersburg Climate Dialogue Berlin The meeting concluded with a clear consensus to reduce global emissions and set binding global targets for the expansion of renewable energy.
Founded in 2006, Masdar is a clean energy powerhouse in the UAE, active in more than 40 countries around the world, and has invested in a series of renewable energy projects with a total installed capacity of approximately 20 gigawatts (GW).
For more information, please visit: http://www.masdar.ae And connect: facebook.com/masdar.ae and twitter.com/masdar
About Masdar
Abu Dhabi Future Energy Company (Masdar), the UAE’s clean energy champion and one of the largest companies of its kind in the world, is committed to advancing the development and deployment of renewable energy and green hydrogen technologies to address global sustainability challenges . Founded in 2006, Masdar is now active in more than 40 countries, helping them achieve their clean energy goals and drive sustainable development. Masdar is jointly owned by Abu Dhabi National Oil Company (ADNOC), Mubadala Investment Company (Mubadala) and Abu Dhabi National Energy Company (TAQA), and under this ownership, the company aims to own at least RM100 watts of renewable energy portfolio capacity (GW), and annual green hydrogen production capacity of 1 million tons by 2030.
This information is provided by Daniel J. Edelman, Inc. on behalf of Masdar. More information from the Department of Justice, Washington DC.
SOURCE Masdar
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