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• ENGIE and Masdar sign Power Purchase Agreement with EWEC

• Khazna Solar PV is a key pillar of EWEC’s strategic plans to increase Abu Dhabi’s solar power generation capacity to beyond 18GW by 2035

EWEC (Emirates Water and Electricity Company), a leading company in the integrated planning, purchasing, supply, and system despatch services of water and electricity across the UAE, today announced the award for its new 1.5 gigawatt (GW) (AC) Khazna Solar Photovoltaic (PV) Independent Power Project. The development of the utility-scale solar power plant was awarded to ENGIE, a global leader in low-carbon energy solutions, and Masdar, a global clean energy leader, as the local shareholder. Following the award, the project’s Power Purchase Agreement (PPA) was signed between EWEC and the two companies.

Khazna Solar PV is part of EWEC’s region-leading strategic plans to substantially increase solar power capacity in Abu Dhabi and the UAE. Upon completion, Khazna Solar PV will generate enough electricity to power approximately 160,000 homes across the UAE, avoiding more than 2.4 million metric tonnes of carbon emissions in Abu Dhabi per year. The plant will feature nearly three million solar panels that will follow the sun’s path throughout the day, maximising solar energy capture and output. Khazna Solar PV will also significantly contribute to EWEC’s strategic plans to increase Abu Dhabi’s solar power generation capacity to 18GW by 2035 and to meet 60 per cent of the Emirate’s total power demand from renewable and clean energy sources by 2035, in line with the Abu Dhabi Department of Energy’s (DoE) Clean Energy Strategic Target 2035 for Electricity Production in Abu Dhabi.

Ahmed Ali Alshamsi, Chief Executive Officer of EWEC, said:

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said:

Paulo Almirante, ENGIE Senior Vice President in charge of Renewable and Flexible Power, said:

EWEC awarded the Khazna Solar PV contract after a comprehensive procurement process. The PPA is structured as an energy purchase agreement whereby EWEC will pay only for the net electrical energy supplied by the plant. Under the terms of the PPA, ENGIE and Masdar will design, finance, build and operate the plant, which will be located near Al Khazna area of Abu Dhabi. To optimise operational performance and long-term efficiency, the project will integrate advanced digital solutions, including IoT-enabled sensors, cloud-based monitoring platforms, big data analytics, and robotic cleaning systems to ensure optimal panel performance and reduced maintenance costs.

Renewable energy is crucial for Abu Dhabi's energy transition and sustainability strategy. Abu Dhabi’s energy mix is now more diverse than ever before as EWEC executes strategic plans that are transforming the power sector through utility-scale solar, wind, and nuclear energy, alongside investments in low-carbon-intensive seawater desalination. By 2030, EWEC aims to produce over 50 per cent of Abu Dhabi’s energy needs from renewable and clean energy sources, forecasting that its average carbon dioxide intensity from electricity generation will fall by a significant 54 per cent from 330 kilograms per megawatt hour (kg/MWh) in 2019 to 150 kg/MWh in 2030. The Khazna Solar PV project’s financial close is expected by the end of Q4 2025.

• WiSER Cares program completes a five-day course in Indonesia on advancing knowledge on energy transformation, community resilience and innovation

• Course explored geothermal innovation, floating solar, and community-led solutions for sustainable growth.

• Fourteen WiSER Pioneers and Indonesian professionals, engaged in immersive site visits and policy dialogues

Women in Sustainability, Environment, and Renewable Energy (WiSER) – the global platform founded by Masdar and the Zayed Sustainability Prize – has successfully concluded its 2025 WiSER Cares program in Indonesia.

Entitled “Advancing the Energy Transformation through Policy, Innovation and Community Action,” the five-day field-based course was held across Jakarta and Garut, immersing participants in Indonesia’s sustainability landscape. The program combined high-level policy discussions with hands-on community engagement to explore how inclusive and locally driven solutions are shaping a just energy future.

Over the course of the week, nine WiSER Pioneers and five Indonesian professionals gained firsthand insights into the nation’s clean energy journey. Sessions included Indonesia’s national energy roadmap, financing mechanisms for the energy transformation, and the role of state-owned enterprises in driving transformation. Participants also visited landmark renewable energy projects such as the Kamojang Geothermal Power Plant and the Cirata Floating Solar Project – Southeast Asia’s largest floating solar facility.

Community engagement formed a core pillar of the program, with participants collaborating with Geothermal Coffee Producer. Through structured group activities, GCP (Geothermal Coffee Producer) co-created practical solutions to support sustainable farming, business model innovation, and community branding, empowering local women with new tools for growth and resilience.

Dr Lamya Nawaf Fawwaz, Executive Director of Brand and Strategic Initiatives at Masdar and WiSER Program Director, said:

The course was delivered in collaboration with key partners across Indonesia’s energy and sustainability landscape, including Energy Academy Indonesia (ECADIN), Pertamina Geothermal Energy Tbk, Indonesia Business Council for Sustainable Development (IBCSD), PLN (Perusahaan Listrik Negara), PT Pembangkitan Jawa Bali Masdar Solar Energi (PMSE), Kopi Canaya Geothermal Cooperative, and technical experts from the Kamojang Geothermal Power Plant and Cirata Floating Solar Project. These organizations played a central role in offering both policy-level perspectives and on-the-ground demonstrations of clean energy innovation.

Candra Sri Sutama, Chief Operating Officer, Energy Academy Indonesia (ECADIN), said:

WiSER Cares builds on the program’s three core pillars of education, engagement and empowerment, by offering courses that strengthen leadership cultural exchange, and hands-on sustainability experience. Each year, the program connects Pioneers with communities at the frontlines of climate and energy challenges, creating transformative learning opportunities aimed at accelerating the clean energy transformation.

Salamah Alhajeri, a senior engineer and 2025 WiSER Pioneer, said:

WiSER is a global platform that champions women as leaders of sustainable change through year-long initiatives in thought leadership, personal and professional development and community engagement. WiSER is born of the UAE leadership’s longstanding and continuing commitment to the role of women; a commitment traced directly back to the vision of the late founding father Sheikh Zayed bin Sultan Al Nahyan. Aligned to the UAE’s broader vision of driving inclusive action and promoting gender equity, the platform champions women’s leadership in critical sectors such as renewable energy, the environment and sustainable development.

First launched in 2018, WiSER Pioneers is a year-long program hosted annually that offers women from across the world, aged 25 to 35, access to bespoke educational workshops and global networking opportunities to inspire sustainability leadership.

Registrations for the WiSER Pioneers Program 2026 are open now. To apply, visit: https://masdar.my.site.com/WISER

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At this year’s Abu Dhabi Sustainability Week, Masdar launched a solution to “the moonshot challenge of our time” – overcoming the intermittency barrier for renewable energy.

In partnership with the Emirates Water and Electricity Company, Masdar is developing in Abu Dhabi the world's first gigascale 24/7 solar and battery storage project, delivering up to 1 gigawatt (GW) of baseload power every day from renewable energy.

The project comes at a time when there is “an urgent need for stable clean baseload power both around the clock and around the world,” Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, says in the latest episode of our Power to Change documentary series.

Covering an area the size of Manhattan, once completed this truly innovative project will be the largest of its kind in the world, capable of avoiding 5.7 million tons of carbon emissions every year, and will meet a third of the UAE’s 2030 renewable energy targets.

Representing an investment of US$6 billion, the project will combine 5.2GW of solar photovoltaic (PV) capacity with a 19 gigawatt-hour (GWh) battery energy storage system (BESS), setting a global benchmark in clean energy innovation.

For the first time at such scale, “clean power isn’t just available when its generated but exactly when its needed,” says Al Ramahi.

“Our goal is to replicate and expand similar projects at a global scale sharing this model with the world,” he says. “The future of energy is clean, the future of energy is constant, and most importantly the future of energy is affordable.”

• Strategic collaboration signed at Global Rail Transport and Infrastructure Exhibition and Conference 2025 in Abu Dhabi

• Companies will assess opportunities for transportation of green hydrogen and derivatives across the UAE

• Masdar is aiming to be a leading producer of green hydrogen and its derivatives globally by 2030

Masdar, a global clean energy leader and a pioneer in green hydrogen, and Etihad Rail, the developer and operator of the UAE's national railway network, have signed a Memorandum of Understanding (MoU) to explore transport solutions for the green hydrogen value chain across the nation.

Through this collaboration, the companies will assess opportunities to utilize Etihad Rail’s growing national network to enable transportation of feedstocks and products along the green hydrogen and derivatives value chain, including hydrogen, ammonia, methanol, sustainable aviation fuel, and others.

The signing ceremony was held during the Global Rail Transport and Infrastructure Exhibition and Conference, taking place this week in Abu Dhabi. His Excellency Shadi Malak, Chief Executive Officer of Etihad Rail and Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar witnessed the signing, with the signatories being Dr. Faye Al Hersh, Associate Director, Development UAE, Masdar and Adhraa Almansoori, Director Public Policy & Sustainability at Etihad Rail.

His Excellency Shadi Malak, Chief Executive Officer at Etihad Rail said:

Mohamed Jameel Al Ramahi, Chief Executive Officer at Masdar, said:

Masdar is aiming to be a leading producer of green hydrogen and its derivatives globally by 2030, with the company developing and investing in commercial projects and building scalable platforms in key markets around the world. Etihad Rail operates freight services across the UAE, connecting industrial zones and maritime ports, with passenger services set to launch in 2026.

The collaboration is aligned with Abu Dhabi’s Low-Carbon Hydrogen Policy and the UAE’s National Hydrogen Strategy 2050, which aims to strengthen the nation’s position as a producer and supplier of low-emission hydrogen by 2031, and help reduce emissions in hard-to-abate sectors, such as land, sea, and air transport, chemicals and fertilizers, and metals, including aluminum, iron, and steel.

• Acquisition completed of 49.99% stake in the portfolio of four operational solar PV plants in Spain

• €184 million investment by Masdar adds 446MW solar capacity to its European portfolio, bringing Masdar’s total gross operational capacity in the Iberian Peninsula to 3.2GW.

• Growing partnership with Endesa reaffirms Masdar’s long-term commitment to Spain as a strategic European hub for clean energy growth and transformation

Masdar, a global clean energy leader, today announced the closing of its acquisition of a 49.99% stake in a €368 million portfolio comprising four operational solar PV plants from Enel Green Power España S.L., a subsidiary of Endesa S.A. (“Endesa”), a leading company in the Spanish electricity sector and a subsidiary of Enel Group. The transaction represents a deployment of €69 million in equity by Masdar, with an additional €115 million of acquisition financing. The move adds a significant 446 megawatts (MW) of operational solar capacity to the company’s European portfolio, while supporting Masdar’s strategy to scale renewable energy capabilities across the Iberian Peninsula and wider Europe.

The agreement consolidates the strategic partnership between the two companies, after Masdar acquired a 49.99% stake in 2 gigawatts (GW) of solar assets from Endesa in 2024. The deal was one of Spain’s largest renewable energy transactions in recent years and includes plans to add up to 0.5GW of battery storage. This latest transaction brings Masdar’s total gross operational capacity in the Iberian Peninsula to 3.2GW, with more than 2GW of development pipeline.

These operating assets further Masdar’s commitment to advancing the region’s renewable energy ambitions and supporting the EU reach its 2050 net-zero targets. Earlier in the year, Masdar and global energy leader Enel Group signed a Memorandum of Understanding (MoU) to explore potential renewable energy opportunities in countries including Italy, Spain, and Germany.

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said:

Flavio Cattaneo, CEO of Enel Group, added:

The deal enhances Masdar’s position in Spain and reinforces its broader plan for expansion across Southern Europe. In late 2024, the company completed the €1.2 billion acquisition of Saeta Yield, a leading Iberian renewables platform with a portfolio of 2.3GW. Saeta now serves as Masdar’s primary regional operating hub on the Iberian Peninsula.

Spain, one of the EU’s most dynamic solar energy markets, is a cornerstone of Masdar’s European growth platform. Its scale, regulatory environment, and ambitious NECP targets position the country as an ideal contributor to Masdar’s global ambition to reach 100GW of renewable capacity by 2030.

Advisors: BNPP acted as the transaction advisor, Linklaters as legal advisor, UL as technical advisor, and PwC as Masdar’s tax and finance advisor.

Banks: The acquisition was partially funded via financing from BNPP, Santander, Intesa Sanpaolo, ADCB, and FAB.

• WiSER Pioneers Program aims to empower the next generation of women sustainability leaders

• Competitive, year-long program for young women aged 25 to 35 from around the world

• 150+ young women from 30+ nationalities have participated since 2018, driving real-world impact

Women in Sustainability, Environment, and Renewable Energy (WiSER) – a global platform co-founded in 2015 by Masdar and the Zayed Sustainability Prize – has officially opened applications for its 2026 WiSER Pioneers Program, dedicated to empowering the next generation of female sustainability leaders.

Now entering its ninth cohort, the year-long, competitive program is dedicated to empowering emerging female leaders in sustainability. Since its launch in 2018, the Pioneers Program has provided 535+ hours of workshops, 515+ hours of one-to-one mentoring and welcomed more than 150 Pioneers from over 30 nationalities, equipping them with the knowledge, networks, and leadership skills to shape the global energy transformation and deliver meaningful impact in their communities.

Open to women aged 25 to 35 who are entrepreneurs or possess at least two years of professional experience in sustainability, environment, energy, or STEM-related fields, the program offers tailored workshops, global networking opportunities, and one-to-one mentorship from senior industry leaders. Pioneers also participate in the annual WiSER Cares initiative, engaging directly with local communities to explore sustainable solutions on the ground.

Dr Lamya Fawwaz, Executive Director for Brand & Strategic Initiatives, Masdar, and Program Director of WiSER, said:

Through WiSER, women have gone on to launch businesses, lead projects and influence policy in their countries, underscoring the platform’s role as one of the world’s most impactful initiatives for developing female leaders in sustainability. Alumni of the program are now making their mark across clean energy, technology, policy, and community development.

The WiSER Pioneers Program combines career development with real-world experience. Participants take part in bespoke training workshops covering clean energy, sustainability policy, leadership and innovation. They also engage in the annual WiSER Cares initiative, a cultural exchange and active learning program that immerses Pioneers in practical sustainability solutions.

The 2025 WiSER Cares trip brought Pioneers to Indonesia, where they gained on-the-ground insight into Indonesia’s energy transformation through site visits to geothermal plants, floating solar projects and policy workshops on climate finance.

WiSER Pioneers also gain international exposure at global events such as Abu Dhabi Sustainability Week (ADSW) and United Nations Climate Change Conference (COP), where they actively contribute to discussions shaping the future of the energy transformation.

Reflecting on the program, Fatima Afghan, a 2025 Pioneer from the UAE said:

Praise for the program also came from Eduarda Zoghbi, a 2025 Pioneer from Brazil:

WiSER is a global platform dedicated to empowering women to be drivers of sustainable change and innovation. WiSER is born of the UAE leadership’s longstanding and continuing commitment to the role of women; a vision championed by the late founding father Sheikh Zayed bin Sultan Al Nahyan. Aligned to global net-zero goals, WiSER is also rooted in a recognition that more needs to be done to support women in the global mission to tackle climate change.

For further information on WiSER, visit: https://masdar.ae/en/strategic-global-initiatives/wiser To apply for the 2026 WiSER Pioneers Program, visit: https://masdar.my.site.com/WISER

• Sultanate of Oman’s power and water procurement company signs power purchase agreement with consortium of Masdar, OQ Alternative Energy, Al Khadra Partners and Korea Midland Power Co. Ltd

• Ibri III Solar Independent Power Project features 500MW solar photovoltaic plant integrated with a 100MWh battery energy storage system

• Project will contribute to Oman’s target of generating 30% of electricity from renewables and Vision 2040 diversification goals

Nama Power and Water Procurement (PWP) has signed an agreement for the development of the Sultanate of Oman’s first utility-scale solar and battery storage project with the consortium of Abu Dhabi Future Energy Company PJSC – Masdar, Al Khadra Partners, Korea Midland Power Co. Ltd (KOMIPO), and OQ Alternative Energy (OQAE), Oman’s national champion for renewable energy.

Masdar, a global clean energy leader, will lead the consortium developing the Ibri III Solar Independent Power Project, which combines a 500-megawatt (MW) photovoltaic (PV) plant with a 100-megawatt-hour (MWh) battery energy storage system (BESS). The scope of the project includes design, construction, ownership, financing, operation and maintenance of the plant and storage system.

The power purchase agreement (PPA) for the project, awarded under the auspices of H.E. Eng. Salim bin Nasser Al Aufi, Minister of Energy and Minerals, was signed at an event in Muscat today by Ahmed bin Salim Al Abri, CEO of PWP, Mohamed Jameel Al Ramahi, CEO of Masdar; Ghalib Al Maamari, Acting CEO of OQAE; Hind Suhail Salim Al Mukhaini Bahwan, Chairperson of Al Khadra Partners; and Lee Young-jo, CEO of KOMIPO.

H.E. Eng. Salim bin Nasser Al Aufi, Minister of Energy and Minerals, said:

Ahmed bin Salim Al Abri, Chief Executive Officer at Nama Power and Water Procurement, said:

Mohamed Jameel Al Ramahi, Chief Executive Officer, Masdar, said:

The Ibri III project is a key element in Oman’s policy to diversify energy resources to meet growing electricity demand, with Oman Vision 2040 including the objective of generating 30 percent of electricity from renewables by 2030. Once operational, Ibri III will produce enough electricity to power around 33,000 homes, while avoiding approximately 505,000 tonnes of carbon dioxide annually.

Eng. Abdullah Rashid Al Sawafi, PWP’s Chief Energy Transition Officer, said:

Ghalib Al Maamari, Acting CEO of OQAE commented:

Sheikha Hind Bahwan, Chairperson of Al Khadra Partners commented:

Lee Young-jo, CEO of KOMIPO, said:

• MBAC, subsidiary of Maaden, signs a 30-year Power Purchase Agreement (PPA) to supply Al Baitha Bauxite Mine with clean energy

• 8 MWp solar plant and 30 MWh battery storage system to generate 17,300 MWh annually

Maaden Bauxite and Alumina Company (MBAC), a subsidiary of Maaden (Saudi Arabian Mining Company), one of the world’s fastest-growing mining companies, has signed a Power Purchase Agreement (PPA) with Emerge, a joint venture between Masdar, a global clean energy leader, and EDF power solutions, a leader in low-carbon innovative solutions.

Under the agreement, Emerge will develop a solar power project to supply the Al Baitha Bauxite Mine with clean, renewable energy for the next 30 years. This initiative supports Saudi Arabia’s energy transition and aligns with the goals of Vision 2030 by reducing carbon emissions and promoting sustainable industrial growth.

The off-grid energy facility will integrate a ground-mounted 8 MWp solar photovoltaic array with a 30 MWh battery energy storage system backing up the intermittency of the solar production and securing a 24/7 electricity supply. The facility is expected to generate approximately 17,300 MWh of electricity annually. The project will help avoid around 13,800 tonnes of carbon dioxide (CO₂) emissions per year, equivalent to removing more than 3,000 cars from the road annually. With this facility, the Al Baitha Bauxite Mine will be able to operate almost entirely on renewable energy, marking a major step toward sustainable mining operations.

Ali Al-Qahtani, Executive Vice-President, of Maaden’s aluminum business said:

Abdulaziz Alobaidli, Chairman of Emerge and Chief Operating Officer at Masdar, commented:

Omar Aldaweesh, CEO KSA of EDF Group and EDF power solutions, and Emerge board member, said:

Emerge will deliver a full turnkey solution for the project, managing all aspects, including financing, design, procurement, construction, operation, and maintenance.

• Masdar’s twelfth Annual Sustainability Report shows continued progress in key areas, with the company delivering record 62% portfolio capacity growth, increasing its global footprint

• Report highlights leadership in sustainable finance and widespread investor confidence in long-term strategy and ESG credentials

• ·Masdar deepens commitment to talent development and inclusion, with women comprising 20% of its management team

Abu Dhabi Future Energy Company PJSC – Masdar, has released its 12th Annual Sustainability Report which highlights how the company strengthened its position as a global clean energy leader last year, delivering record portfolio capacity growth and increasing its global footprint through major acquisitions in Europe and the United States.

Masdar’s Sustainability Report highlights the company’s continued progress in key sustainability areas, including environmental performance, social impact, ethical business practices, and workforce diversity. It also reinforces Masdar’s leadership in sustainable finance, with the expansion of its green bond program in 2024.

Masdar achieved a record portfolio growth of 62 percent last year, with its operational, under construction and advanced pipeline capacity reaching 51 gigawatts (GW), more than halfway to the company’s 2030 target of 100GW. Total capacity for operational and under construction projects almost doubled to 32.6GW, with operational projects generating 29,225 gigawatt-hours (GWh) of clean electricity, avoiding 15.5 million tonnes of carbon dioxide equivalent.

Landmark acquisitions fueled Masdar's growth in 2024. With its strategic expansion in Europe, Masdar acquired Greece’s TERNA ENERGY for a total enterprise value of €3.2 billion. Masdar also acquired a 50 percent stake in Terra-Gen, one of the largest independent renewable energy producers in the United States. Terra-Gen’s portfolio will play a key role in driving Masdar’s global capacity growth. The investment will also accelerate collaboration between the US and the UAE in alignment with their strategic energy partnership for reliable, affordable and sustainable energy. In the Iberian Peninsula, another core European market, Masdar expanded further by acquiring Saeta for US$1.4 billion and securing a 49 percent stake in a 2GW operating solar portfolio from Endesa S.A.

Mohamed Jameel Al Ramahi, Chief Executive Officer, Masdar, said:

Masdar’s second green bond issuance, in July 2024, was again met with strong global demand, being 4.6 times oversubscribed, reaffirming widespread investor confidence in the company’s long-term strategy and ESG credentials. Masdar also received a credit rating upgrade to AA- from Fitch Ratings and an ESG Entity Rating of 2 from Sustainable Fitch, with a 71/100 score, reflecting the company’s good ESG performance and the green nature of its assets.

Aligned with its focus on diversity, inclusion, and leadership development, Masdar is committed to promoting a strong female representation in management, with women now comprising 20 percent of its management team. It is also steadfast in its approach to empowering local communities through sustainable urban development and inclusive energy access initiatives across its projects.

Beyond power generation, Masdar’s projects create jobs in local communities, support economic growth, and protect wildlife ecosystems. As an example of Masdar’s commitment to biodiversity, the company is utilizing Identiflight AI technology at its Zarafshan wind project in Uzbekistan, helping to protect bird species through advanced flight pattern monitoring and risk reduction, marking the first such deployment in Asia.

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Masdar released an episode of Power to Change, its original documentary series, spotlighting the Kingdom of Saudi Arabia’s emerging role as a regional renewable energy leader, through the eyes of the country’s next generation of clean power innovators.

The episode features Srrah AlGheithy and the Estidamah solar car team, an all-Saudi group of engineers who have developed an electric vehicle capable of travelling an astonishing 3,000km without recharging. Their secret? Solar power.

Designed and built entirely in the Kingdom, the solar EV is a symbol of the country’s growing investment in youth-led technology and sustainable transportation. The Estidamah team is embarking on a 3,700km journey across Saudi Arabia to raise awareness of renewable energy, showcase national innovation and spark conversation about the future of clean mobility.

“It’s really important for us to showcase the car across the Kingdom,” says AlGheithy. “We hope to bring attention to the major strides the Kingdom has made when it comes to technology development and renewable energy.”

Established to unlock the potential of young people in sustainable tech development, Estidamah reflects a broader transformation underway in Saudi Arabia, one that Masdar is proud to support through a growing portfolio of strategic partnerships and projects.

The Kingdom of Saudi Arabia is a strategic market for Masdar, which has already delivered several landmark renewable energy projects and continues to expand its pipeline.

The South Jeddah Noor Solar PV Plant, a 300-megawatt facility developed in partnership with Masdar, powers 45,000 homes and offsets 430,000 tonnes of CO2 annually. Meanwhile, Dumat Al Jandal, one of the largest wind farms in the region, displaces nearly 1 million tonnes of CO2 emissions each year.

Saudi Arabia is undergoing a significant energy transformation, positioning itself to become a renewable energy leader in the region.

By engaging with young people and supporting initiatives like Estidamah, Masdar is helping to foster a culture of innovation and demonstrate the importance of clean technologies in building a sustainable future.

“It’s encouraged the youth to explore and experiment in the field of renewable energy,” says AlGheithy. “There’s a lot of innovation and there really is no limit to what we can achieve together.”