Masdar's Remarkable 150% Capacity Growth Secures Its Position as a Global Clean Energy Leader

Masdar's Capacity Surge: A Global Clean Energy Leader

In a groundbreaking achievement, the Abu Dhabi Future Energy Company PJSC, better known as Masdar, has announced an impressive increase in its renewable energy capacity by 150% over the past two years. With total capacity soaring from 20 GW in 2022 to over 51 GW by the end of 2024, Masdar is not only leading the charge in clean energy solutions but is also well on its path to achieving its ambitious target of 100 GW by 2030. This surge in capacity marks a significant moment in the global shift towards sustainable energy.

Investment and Strategic Growth

Masdar has committed nearly $8 billion in equity investments in 2024 alone, alongside securing over $4.5 billion in project financing across nine countries. This financial muscle has facilitated the development of projects amounting to over 6.5 GW of new capacities, illustrating Masdar's unwavering dedication to expanding its renewable energy portfolio while playing a pivotal role in the global energy transformation.

The company’s growth trajectory has been bolstered by historic contracts in regions like Spain, Greece, and the United States, which have positioned Masdar as a formidable player in both the European and North American markets. Additionally, the company has embarked on the construction of seven major projects worldwide, showcasing its commitment to global energy leadership.

Among these developments, notable projects include two battery energy storage systems (BESS) in the UK, two solar ventures in Azerbaijan boasting a combined capacity of 760 MW, and the significant 1.5 GW solar project known as Al Ajban in the UAE. Furthermore, in December 2024, Masdar achieved a critical milestone by signing a power purchase agreement for the Sadawi project in Saudi Arabia, expected to deliver 2 GW. The company also proudly inaugurated the Zarafshan wind farm in Uzbekistan, now recognized as Central Asia's largest wind operation.

Market Confidence and Credit Rating

In a testament to its strong performance, Masdar successfully issued its second green bond, raising $1 billion with an oversubscription of 4.6 times, underscoring investor confidence in its vision and operational capabilities. This financial robustness follows a recent upgrade in Masdar's credit rating by Fitch from A+ to AA-, further indicating enhanced trust in the company’s fiscal health.

Dr. Sultan Ahmed Al Jaber, Masdar's chairman, reflected on the company's journey, stating, "With unwavering support from the UAE's leadership, Masdar has transformed from a clean energy pioneer to one of the largest renewable energy firms globally. Our achievements in 2024, increasing our overall capacity to 51 GW, illustrate our strategic growth through intelligent acquisitions and project development. We are committed to aiding the UAE and global consensus in tripling renewable energy capacities by 2030."

The Road Ahead

Masdar’s story is a testament to ambitious goals woven with strategic action. The company's remarkable doubling of its capacity within such a short timeframe not only emphasizes its leadership in the renewable sector but also expands its aspirations through strategic acquisitions, particularly across the US, Spain, and Greece. With significant advancements in key projects worldwide, Masdar is poised to set new benchmarks in the race to reach its 100 GW objective.

Since its inception in 2006, Masdar has played a pivotal role in realizing the UAE's vision as a global frontrunner in sustainable development and climate action. Embarking on projects and partnerships in over 40 countries, the company aims to reach a renewable energy portfolio capacity of 100 GW by 2030.

For more information, please visit Masdar's official website and follow them on Facebook and Twitter.

About Masdar

Founded in 2006, Masdar (Abu Dhabi Future Energy Company) is among the fastest-growing renewable energy companies in the world. As a global pioneer in clean energy, Masdar accelerates the development and deployment of solar, wind, geothermal, battery storage, and green hydrogen technologies, helping the world achieve its net zero ambitions sustainably. With a portfolio exceeding 50 gigawatts, Masdar is on a mission to provide affordable access to clean energy while alleviating the pressing challenges of climate change and energy access for all.