Masdar Doubles Clean Energy Capacity in Just Two Years

May 19, 2023 10:45 AM ET
  • Masdar claims that it is on track to become one of the globe's largest renewable energy business by decade end.

It attained a clean energy capacity of 20 GW in 2022, as well as created 18,000 GWh of clean energy.

The UAE front runner renewable resource firm Masdar has actually revealed that it has practically doubled its clean energy capacity and CO2 displacement in a room of just two years. Masdar claims to be on course to become one of the world's largest renewable resource business by 2030.

Masdar accomplished a clean energy capacity of 20 GW in 2022, created 18,000 GWh of clean energy. The quantum of energy is enough to displace 10 million tonnes of CO2. The Sustainability Report, which covers Masdar's global operations for 2022, also highlights the launch of a Green Finance Framework.

In 2022, Masdar signed significant arrangements in brand-new and current markets consisting of Uzbekistan, Azerbaijan, Egypt, Jordan, Kyrgyzstan, Turkmenistan, as well as Tanzania. Its work advanced the Al Dhafra Solar Photovoltaic (PV) Independent Power Manufacturer Project, set to be the world's largest single-site solar power plant upon completion.

Dr Sultan Ahmed Al Jaber, Masdar Chairman, said that in the past 17 years, Masdar became one of the world's biggest renewable resource investors as well as drivers of the energy transition. "Our momentum will certainly see us speed up international clean energy development, expand our renewable energy footprint, and also play a vital function in supplying the UAE's Internet No by 2050 strategic initiative."

Mohamed Jameel Al Ramahi, CHIEF EXECUTIVE OFFICER, Masdar, said, "2022 was a pivotal year in our legacy of development. We formally welcomed ADNOC as well as TAQA as Masdar's shareholders together with Mubadala, setting out on an ambitious course to expand our clean energy capacity to 100 GW as well as 1 million tonnes each year of green hydrogen production by 2030."

Masdar's Sustainability Report likewise says that the company seeks to become a worldwide green hydrogen leader with plans to produce approximately 1 million tonnes of green hydrogen per annum by 2030.

Masdar is currently active in more than 40 nations throughout six continents. Till day, it has invested, or dedicated to invest, in around the world projects with a mixed value of more than US$ 30 billion.

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