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Abu Dhabi Future Energy Company (Masdar) has reinforced its position as a global leader in renewable energy by deploying nearly AED30 billion in equity investments and securing over AED16.5 billion in project financing across nine countries. These milestones align with Masdar’s strategy to expand its renewable energy portfolio and accelerate the global energy transition. Since its establishment in 2006, Masdar has played a key role in advancing the UAE’s vision for sustainability and climate action. The company has been involved in renewable energy projects across more than 40 countries and is working toward increasing its portfolio capacity to 100GW by 2030. Masdar’s rapid growth has been driven by strategic acquisitions in Greece, Spain, and the United States, strengthening its presence in Europe and North America. The company also commenced construction on seven major projects worldwide, including two battery energy storage system (BESS) projects in the UK, two solar projects in Azerbaijan with a combined capacity of 760MW, and the 1.5GW Al Ajban Solar Project in the UAE. Additionally, Masdar achieved financial close on six projects, among them the 1.1GW Al Henakiyah Solar Power Plant and the Amaala sustainable multi-utility project in Saudi Arabia, as well as the 760MW Bilasuvar and Neftchala solar projects in Azerbaijan. Further expanding its global footprint, Masdar signed a power purchase agreement in December 2024 for the 2GW Sadawi project in Saudi Arabia. It also inaugurated the 500MW Zarafshan Wind Farm in Uzbekistan, now the largest operational wind project in Central Asia. With plans to increase its project portfolio’s production capacity to 51GW by the end of 2024, Masdar continues to support the UAE’s ambition to become the world’s largest developer, owner, and operator of renewable energy and green hydrogen, while aiding countries worldwide in meeting their climate neutrality targets. |
