In keeping with the UAE’s support of renewable energy and clean technology solutions, the Abu Dhabi Future Energy Company (Masdar) has continued to enhance its standing in the clean energy industry and drive its development.
In accordance with ‘Principles of the 50,’ the company has conducted a succession of commercial ventures as a portion of a long-term scheme to secure a viable future and to promote the UAE’s economic and social development objectives.
Projects on a global scale
Masdar opened many wind and solar energy plants last year and inked a number of deals in Greece, Saudi Arabia, Georgia, Uzbekistan, Poland, Indonesia, Ukraine, Kazakhstan, Armenia, the United States, Azerbaijan, Iraq and Ethiopia to support future developments. Masdar officially opened the Nur Navoi solar power facility in Uzbekistan in August, with a capacity of about 100 megawatts. Masdar also has a stake in 2 wind energy facilities in Poland, which are their first foray into the Polish renewable energy market.
Masdar finished the first phase of a contract with EDF Renewables North America firm to purchase a 50% share in the clean energy portfolio worth 1.6-gigawatt in the United States in February 2021, and Mubadala, Masdar, as well as Ukraine’s DTEK signed a MoU (Memorandum of Understanding) to investigate the investment prospects of Ukraine’s renewable energy sector.
The firm is also spearheading a project development collaboration to jointly establish a 330-megawatt solar power facility in Jeddah and is continuing to build a wind farm venture in Saudi Arabia that has been linked to the central energy network.
The Ministry of Electricity, the Armenian National Interests Fund, Tribe Infrastructure Group and the National Investment Authority in Iraq, and PTP Jawa-Bali in Indonesia signed agreements aimed at launching a variety of sustainable energy projects. Masdar also signed partnerships with Greek and Asian corporations, as well as the Ethiopian government.
Abu Dhabi Hydrogen Alliance
The Abu Dhabi Hydrogen Alliance was founded by Mubadala, ADNOC, and ADQ to manufacture hydrogen utilizing renewable energy and natural gas and then market it internationally as well as in UAE. As part of this alliance, Masdar decided to team up with Etihad Airways, the Abu Dhabi Department of Energy, Lufthansa Group, Siemens Energy, Khalifa University of Science and Technology, and Marubeni in establishing a pilot plant project in Masdar City to investigate possibilities in sustainable fuels, green hydrogen and kerosene generation from electricity for shipping, transportation and aviation.
Masdar City’s expansion as a pioneering base for Abu Dhabi’s research and development efforts continued in 2021. The city’s Free Zone now has over 1,000 firms and has introduced a new set of business opportunities, including efforts geared toward female entrepreneurs. The Technological Innovation Support Unit, that is the Middle East’s first business accelerator unit for developing enterprises specializing in sustainability, supports entrepreneurship.