#Clean Energy #Abu Dhabi #Renewable Energy #UAE #Masdar

Masdar's Remarkable Growth in Renewable Energy Capacity

Abu Dhabi Future Energy Company, known as Masdar, has made significant strides in the renewable energy sector, achieving an incredible 150% increase in its energy capacity. By the end of 2024, the company's total capacity soared to 51GW, up from 20GW just two years prior, marking a pivotal moment in its evolution as a clean energy leader on the global stage.

Major Milestones Achieved

In 2024, Masdar demonstrated its commitment to sustainable energy development by deploying nearly $8 billion in equity investments and securing over $4.5 billion in project financing across nine countries. This substantial investment translated into over 6.5GW of new capacity, showcasing Masdar's dedication to pioneering a brighter, sustainable energy future.

The company's operational capacity, which includes projects currently underway and those in the advanced pipeline, increased impressively from 16.5GW to 32.6GW within a year. Such rapid growth sets the stage for further success in achieving its ambitious long-term goal of reaching 100GW of renewable energy capacity by 2030.

Expanding Global Footprint

Masdar's strategic initiatives included entering into landmark agreements across countries like Greece, Spain, and the United States, which bolstered its market presence significantly. The company has also broken ground on seven major projects worldwide, including ambitious efforts in wind and solar energy.

Noteworthy projects include:

• - Two Battery Energy Storage System (BESS) projects in the UK,
• - Two solar power projects in Azerbaijan with a combined capacity of 760MW,
• - The massive 1.5GW Al Ajban Solar Project located in UAE.
• - The recent inauguration of the 500MW Zarafshan Wind Farm in Uzbekistan, now recognized as the largest of its kind in Central Asia.

Masdar's continued collaboration with various partners reflects its mission to enhance renewable energy accessibility globally while facilitating a significant transition towards sustainable energy frameworks.

Financial Success and Recognition

In addition to expanding its physical presence, Masdar successfully issued its second green bond, amassing $1 billion and achieving a 4.6 times oversubscription, a clear testament to the investor confidence in the company’s vision and operational efficiency. The positive reception from investors is further validated by Fitch’s recent upgrade of Masdar's credit rating from A+ to AA-, demonstrating a strengthened trust in the company's financial health.

Leadership Statements

His Excellency Dr. Sultan Ahmed Al Jaber, Masdar's Chairman, emphasized the company’s growth trajectory over the past two decades, stating, "With unwavering support from the UAE Leadership, Masdar has risen from a clean energy pioneer to one of the world's foremost renewable energy companies. Our progress is evidence of a well-balanced strategy that meticulously combines smart acquisitions with robust project development. We are steadfast in contributing to the UAE’s vision and the global goal of tripling renewable energy capacities by 2030."

Meanwhile, Mohamed Jameel Al Ramahi, the company's CEO, highlighted the dual impact of bold ambition and strategic action in propelling Masdar's growth. He noted that by surpassing its capacity targets within such a condensed timeframe, Masdar is not just marking milestones but is also setting new industry standards as it continues its mission to meet the global demand for renewable energy.

Looking Ahead

Since its establishment in 2006, Masdar has been an essential player in the UAE's commitment to sustainability and climate action. The company’s involvement spans across more than 40 countries, focused on increasing its renewable energy portfolio to 100GW by 2030. By advancing solar, wind, and green hydrogen technologies, Masdar is paving the way for the world to achieve its net-zero ambitions and ensure access to clean energy for all.

To learn more about Masdar's vision and projects, visit their website at Masdar or follow them on social media.