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• Financing secured from Natixis and FAB to fund construction of Ibri III Solar Independent Power Project

• Ibri III features 500MW solar photovoltaic plant integrated with 100MWh battery energy storage system

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

Abu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader, and consortium partners Al Khadra Partners, Korea Midland Power Co. Ltd (KOMIPO), and OQ Alternative Energy (OQAE), have reached financial close for the Ibri III Solar Independent Power Project, the first utility-scale solar and battery storage project in the Sultanate of Oman.

Financing facilities have been secured with leading global financial institutions Natixis Corporate & Investment Banking (Natixis CIB) and First Abu Dhabi Bank (FAB), which will cover a substantial part of the total project costs of around US$300 million. Ibri III, which is being developed for Nama Power and Water Procurement (Nama), will contribute to the Oman Vision 2040 goal of diversifying energy resources, including the target of generating 30 percent of electricity from renewables by 2030. Combining a 500-megawatt (MW) photovoltaic (PV) plant with a 100-megawatt-hour (MWh) battery energy storage system (BESS), it will produce enough electricity to power around 33,000 homes, while avoiding approximately 505,000 tonnes of carbon dioxide annually.

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

The power purchase agreement (PPA) for the Ibri III project was signed in September. The scope of the project includes design, construction, ownership, financing, operation, and maintenance of the plant and storage system.

• Masdar and EPCG, Montenegro’s national power utility, agree to explore a joint venture to deliver clean energy projects

• Partnership to advance large-scale renewable energy projects across multiple technologies in Montenegro

• Collaboration builds on Masdar’s existing presence in Montenegro, and regional expansion across Southeast Europe

Abu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader, and Elektroprivreda Crne Gore (EPCG), Montenegro’s national power utility, have agreed to explore a joint venture to develop large-scale renewable energy projects in Montenegro.

The signing took place at Abu Dhabi Sustainability Week 2026, in the presence of Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, and Chairman of Masdar; Prime Minister of Montenegro, H.E. Milojko Spajić; and H.E. Admir Šahmanović, Minister of Energy and Mining for Montenegro as well as senior representatives from both organizations.

Under the terms of the agreement, Masdar and EPCG will explore a joint venture to develop, construct, own and operate clean energy projects across a range of technologies, including solar photovoltaic (PV), wind, hydropower, stand-alone battery energy storage systems and hybrid solutions.

The collaboration aims to support Montenegro’s domestic energy needs while enabling the export of renewable electricity to the Balkans and Southeast Europe. This includes leveraging Montenegro’s existing sub-sea interconnection with Italy, as well as its potential expansion.

The partnership aims to combine EPCG's position as Montenegro's leading energy producer and Masdar's global expertise in renewable energy project development. Through this collaboration, Masdar and EPCG aim to accelerate Montenegro’s energy security and contribute to the energy transformation of the broader European energy market.

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

His Excellency Admir Šahmanović, Minister of Energy & Mining, said:

Milutin Đukanović, President of the Board of Directors of Elektroprivreda Crne Gore, said:

Zdravko Dragaš, Chief Executive Officer of EPCG, said:

This agreement follows the signing of the UAE-Montenegro Energy Cooperation Agreement between the UAE and Montenegro in early November 2025.

Building on the broader strategic partnership between the UAE and Montenegro, Masdar’s collaboration with EPCG leverages on its existing presence in Montenegro through its 2018 investment in the 72-megawatt Krnovo Wind Farm, which remains the country’s largest operating wind project to date. The partnership also complements Masdar’s broader expansion and investment in Southeast Europe and Central Europe through its Greek platform, TERNA ENERGY, acquired last year.

• Financing of more than US$225 million secured from European Bank for Reconstruction and Development and Asian Development Bank for Guzar project

• Masdar will design, build and operate project under Public-Private Partnership agreement with JSC National Electric Grid of Uzbekistan

• Guzar is part of Masdar’s portfolio of 2GW renewable energy projects in Uzbekistan, with investments exceeding US$2 billion

Abu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader, today announced it has reached financial close on a package worth more than US$225 million for the Guzar 300-megawatt (MW) solar power plant and 75-megawatt-hour (MWh) battery energy storage system (BESS) in Kashkadarya, Uzbekistan.

The European Bank for Reconstruction and Development (EBRD) will provide up to US$195.5 million, including financing from Canada and Finland under the Special Fund for the High Impact Partnership on Climate Action (HIPCA), and the Japan-EBRD Cooperation Fund.

The Asian Development Bank (ADB) is providing financing of US$30 million, including from the Leading Asia’s Private Infrastructure Fund 2 (LEAP 2) and the Canadian Climate and Nature Fund for the Private Sector in Asia (CANPA) under its administration. Abu Dhabi Commercial Bank provided hedging on the transaction.

The milestone was marked with a signing ceremony held in the presence of HE Suhail Mohamed Al Mazrouei, Minister of Energy and Infrastructure, United Arab Emirates, HE Jamshid Khodjaev, Deputy Prime Minister, Republic of Uzbekistan, HE Jurabek Mirzamahmudov, Minister of Energy, Republic of Uzbekistan, and Mohamed Jameel Al Ramahi, CEO, Masdar, at the Masdar Pavilion during Abu Dhabi Sustainability Week. Masdar COO Abdulaziz Alobaidli signed the agreement, alongside representatives of the EBRD, ADB and ADCB.

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

Masdar will design, build and operate the solar and BESS project under the terms of the Public-Private Partnership agreement it signed with JSC National Electric Grid of Uzbekistan. Once operational, the project will avoid more than 400,000 tonnes of carbon dioxide annually and provide enough electricity to power the equivalent of 60,000 homes, contributing to Uzbekistan’s target of generating 54 percent of power from renewables by 2030.

Masdar’s investment to date in Uzbekistan exceeds US$2 billion, having developed the first utility-scale solar project in the country, the 100MW Nur Navoi plant. Most recently, Masdar signed a Battery Storage Services Agreement with JSC Uzenergosotish last November to develop the nation’s largest standalone BESS project, with a capacity of 300MW/600MWh in the Navoi Region of Uzbekistan.

The CIS region is a strategic market for Masdar as it targets a global portfolio capacity of 100GW by 2030. Beyond its footprint in Uzbekistan, the company has an active presence across Azerbaijan, Kazakhstan, and elsewhere.

• Partnership showcases a scalable AgriPV model optimized for UAE conditions, proving its technical, economic, and agricultural viability.

• Sets a blueprint for strengthening the energy–food nexus in line with the UAE Energy Strategy and the National Food Security Strategy.

• AgriPV projects enable dual land use while boosting crop yields and reducing irrigation needs.

Abu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader, is partnering with Elite Agro Holding, a trusted global expert in food and agriculture production and development, to launch the first agricultural photovoltaic (AgriPV) project in the MENA region.

The project was announced today at Abu Dhabi Sustainability Week (ADSW), the global platform for accelerating sustainable progress, hosted by Masdar. The project, located at Elite Agro’s Al Foah Farm in Al Ain, Abu Dhabi, will serve as a scalable reference model for sustainable farming and renewable energy integration in the region.

By combining solar panels with greenhouses, AgriPV solutions enable land to be used both for clean energy generation and crop cultivation, maximizing resource efficiency, crucial in areas with limited arable land and high energy demand. Shading from PV panels can also reduce heat and water stress on plants, potentially improving crop yields and reducing irrigation needs.

This project advances the UAE’s Energy Strategy 2050 and Net Zero 2050 ambitions by expanding clean energy deployment and efficiency, and it contributes to the National Food Security Strategy 2051 by enabling sustainable local production through modern Agri technologies.

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

Maurizio Terazzi, Chief Executive Officer of Elite Agro Holding, said:

The project, which has been tailored for UAE conditions, will provide a blueprint for sustainable agriculture and energy in arid climates, generating valuable data on the technical, economic, and agricultural impacts of AgriPV for future large-scale deployments.

Elite Agro Holding is a trusted global innovator in agrifood, delivering end-to-end solutions from sustainable farming and smart agri-tech to food processing, distribution and trade. The Abu Dhabi based company, which operates in the GCC, Serbia, Morocco, Mauritania, and Ethiopia is leading the way toward a more self-sufficient, food-secure tomorrow.

• Combining local and global expertise, the entities aim to advance utility-scale clean energy projects across the emirate

• The new agreement builds on a legacy of BEEAH-Masdar collaborations, establishing a structured pathway for developing multiple solar projects

• It supports Sharjah and the UAE’s rapidly expanding clean energy sector, in line with national net-zero imperatives

BEEAH, the region’s sustainability and innovation pioneer, and Abu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader, have signed a Joint Development Agreement (JDA) to identify and develop utility-scale clean energy projects in Sharjah. The JDA was signed by Khaled Al Huraimel, Group CEO and Vice Chairman of BEEAH, and Mohamed Jameel Al Ramahi, CEO of Masdar, at the World Future Energy Summit 2026, part of Abu Dhabi Sustainability Week.

The agreement provides a framework for the companies to assess, select and progress viable solar PV (photovoltaic) projects in the emirate. From project screening through development, construction, operation and maintenance, BEEAH and Masdar will collaborate on end-to-end activities, including project feasibility, grid impact assessment, solar resource assessments and site studies. The framework also allows scope for exploring other clean energy opportunities, such as hybrid battery energy storage systems to enhance grid resilience.

Khaled Al Huraimel, Group CEO and Vice Chairman of BEEAH, said:

Mohamed Jameel Al Ramahi, CEO of Masdar, added:

The signing expands on a series of existing and legacy collaborations between the two organizations, most notably the founding of the Emirates Waste to Energy Company joint venture in 2017 to develop the first utility-scale waste project in the region.

Aligned with its Net Zero by 2040 commitment, BEEAH continues to explore clean energy innovations beyond waste-to-energy. Its flagship BEEAH Headquarters features an on-site solar plant that contributes to the building’s LEED Platinum certification. Elsewhere, the sustainability pioneer is also evaluating opportunities to convert redundant landfills into solar farms and capture landfill gas for power generation. The JDA is aligned with national clean energy priorities, with the UAE aiming to triple renewable capacity by 2030 as part of the Net Zero by 2050 Strategic Initiative.

• Masdar and RWE secure CfD for 3GW of new UK offshore wind capacity across the DBS Offshore Wind Farms

• £11 billion Masdar–RWE investment underscores long-term commitment to UK offshore wind and regional economic growth

• CfD awards support delivery of one of the country’s largest offshore wind developments, strengthening UK energy security

Abu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader, and RWE, a global leader in renewable energy, have been awarded Contracts for Difference (CfDs) for the DBS (Dogger Bank South) offshore wind farms. The CfDs were awarded at a strike price of £91.20/MWh.

DBS comprises two 1.5GW projects, DBS East and DBS West, together forming one of the UK’s largest offshore wind projects currently under development. Representing an £11 billion investment, the projects would strengthen UK energy security, accelerate power sector decarbonisation, and support regional supply chains and skilled jobs across coastal communities.

Masdar and RWE will continue to work with stakeholders to progress the projects’ development and ultimate delivery. Commissioning of the projects is anticipated in 2031 (DBS West) and 2032 (DBS East).

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

Markus Krebber, CEO of RWE AG:

The awards reflect Masdar’s growing involvement in the UK offshore wind sector, building on its established portfolio of long-term investments, including a €5.2 billion co-investment with Iberdrola in the 1.4GW East Anglia THREE offshore wind project, as well as strategic stakes in the London Array Offshore Wind Farm (630MW) and the Dudgeon Offshore Wind Farm (402MW). Masdar is also developing a significant UK battery energy storage pipeline, supporting grid flexibility and system resilience.

RWE is one of the world’s leading companies in offshore wind. RWE’s unparalleled track record of more than 20 years in offshore wind has resulted in 19 operational wind farms, of which 10 are in the UK, with an installed capacity of nearly 4 GW in the UK (RWE pro rata share amounts to 1.9 GW). RWE has pioneered UK offshore wind energy, having installed the first offshore turbines at Blyth in 2000, and commissioned the UK’s first commercial-scale offshore wind farm, North Hoyle, in 2004. Furthermore, RWE currently has four offshore wind projects under construction in four countries, including the 1.4-gigawatt project Sofia off the coast of Northern England, also located on Dogger Bank.

CfDs are the UK Government’s primary mechanism for enabling the deployment of low-carbon electricity at scale, providing long-term price certainty while supporting affordability and security of supply. The awards were confirmed by the Low Carbon Contracts Company following Masdar and RWE’s successful bids in the Offshore Wind (Pot 3) category.

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Chairman of Masdar, opened Abu Dhabi Sustainability Week (ADSW) 2026, highlighting the tectonic shift in the world’s economy, driven by AI; the UAE’s leadership in providing energy to power growth; and the country’s radical approach to partnership.

Dr. Al Jaber was speaking in the presence of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and addressing an assembled audience that included heads of state, ministers and government officials.

At the first major international event of the year, Dr. Al Jaber hailed a new era of human progress powered by computational power and digital capability, all underpinned by energy.

“Artificial intelligence is rewiring every industry, reshaping every sector and resetting expectations for global growth,” Dr. Al Jaber said. “While the world is changing around us, one constant remains. And that is energy. Every algorithm, every data center, every breakthrough in advanced technology needs power to drive it. Simply put, there is no artificial intelligence without actual energy.”

Over the next 15 years, data centre power demand will increase sixfold, Dr. Al Jaber said. Energy demand will accelerate across all other sectors, with air travel doubling and 1.5 billion more people set to live in cities, driving increased need for cooling, heating, mobility, and industrial production.

“Meeting all this demand responsibly, reliably and affordably means coming to terms with reality,” Dr. Al Jaber said. “Over 70 percent of this energy will still come from hydrocarbons.” This should be seen not as a constraint, he told the assembled audience, but rather as a catalyst. “Sustainable progress is not about slowing down growth, it is about designing a better engine.”

The UAE has structured its economy to meet this new reality, Dr. Al Jaber said, being a nation where “that engine for growth is grounded in pragmatism, guided by farsighted leadership, powered by ambition and built for the long term. We are a nation that plans with patience, acts with prudence, and invests with discipline.”

Dr. Al Jaber highlighted a “foundational truth” in his address, that “the world still needs molecules to make electrons. That is why we have always invested in both and fused them into a single integrated system: from the carbon-efficient molecules of ADNOC to the clean gigawatts of Masdar; from the largest solar projects ever built, to the first solar plants that work around the clock; from nuclear energy to custom-tailored wind turbines that work at low speed.”

The UAE also applies technology “system-wide,” Dr. Al Jaber said. “AI is no longer a tool we add at the margins; it has become the operating system of our industrial strategy. We are embedding AI across our energy and industrial base to optimize every barrel, every megawatt, every production line.”

Dr. Al Jaber praised President His Highness Sheikh Mohamed bin Zayed Al Nahyan for his vision in founding Masdar, the host of ADSW. “Exactly 20 years ago, Your Highness, you took a bold strategic decision to invest in renewables” he said, adding that Masdar has gone on to develop renewable energy projects in more than 40 countries globally and play a key role in driving renewable energy costs down more than 90 percent.

Dr. Al Jaber revealed that Masdar is now more than two thirds of the way to its target of 100 gigawatts (GW) portfolio capacity.

“Twenty years of Masdar is proof of what’s possible when visionary leadership sets a clear direction, does not waver and stays the course.”

Critically, the UAE is “an open platform for partnership,” practicing “radical collaboration,” Dr. Al Jaber said. “We are never distracted by the noise of the moment. We are always focused on the work of a generation. Our word is our currency. Our consistency is our strength. Our record is our credibility.”

Dr. Al Jaber called out directly to the “CEOs, technologists, investors and policymakers” in the audience, highlighting that the UAE offers “what serious investors value most: stability; steady leadership; long-term vision; policy clarity; advanced logistics; world class financial services; and smart capital.”

The UAE can provide access to energy and high-tech infrastructure “in abundance” and its “ease of doing business is backed by good governance and rule of law”.

“If you want to engineer the future, this is where that work is happening,” he declared. “The corridor to the future runs through here: where gigawatts of power meet terabytes of data, where energy meets intelligence, and where progress is not promised – it is delivered.”

The UAE has chosen to be “a nation of peaceful coexistence,” based on substance and action, Dr. Al Jaber said. “We move forward with confidence because we know who we are and what we seek to achieve. We believe the future is shaped through wisdom, hard work and sound stewardship. And we believe people are the ultimate purpose. In a world shaped by technology, it is our values that remain our North Star, guiding how we invest, how we build and how we partner.”

Dr. Al Jaber reflected on the legacy of the late Sheikh Zayed bin Sultan Al Nahyan, the first president and Founding Father of the United Arab Emirates. “Sheikh Zayed defined progress by one standard alone: human dignity,” Dr. Al Jaber said. “He believed that leadership is measured not by wealth or power, but by the difference made in people’s lives.”

The Zayed Sustainability Prize, which holds its Award Ceremony today, was established in the late Sheikh Zayed’s honor in 2008 to continue his legacy of promoting sustainability, inclusivity and global development. To date, the Prize has positively impacted the lives of more than 400 million people across the world, Dr. Al Jaber noted.

“This prize is not symbolic, it is practical, and it is deeply human,” he said. “The Prize has saved lives, and it has changed lives – permanently, for the better. That is the power of legacy multiplied through action.”

Dr. Al Jaber concluded with a direct call to the audience: “Bring your ambition, your ideas, your capital and your technology, and put them to work where progress is powered, opportunity is operationalized and partnerships are permanent. The future of sustainable human progress is waiting, and its address is Abu Dhabi.”

President His Highness Sheikh Mohamed bin Zayed Al Nahyan today attended the opening ceremony of the 2026 Abu Dhabi Sustainability Week (ADSW) at the Abu Dhabi National Exhibition Centre (ADNEC).

Abu Dhabi Sustainability Week is an annual global platform that brings together leaders, policymakers, and experts to advance practical solutions for sustainable development in the UAE and around the world.

The opening ceremony was also attended by His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council; Lieutenant General His Highness Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior; His Highness Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Deputy Chairman of the Presidential Court for Development and Fallen Heroes’ Affairs; and His Highness Sheikh Hamdan bin Mohamed bin Zayed Al Nahyan, Deputy Chairman of the Presidential Court for Special Affairs.

Also present were His Excellency Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence; His Excellency Sheikh Mohammed bin Hamad bin Tahnoon Al Nahyan, Adviser to the UAE President; along with a number of Sheikhs, ministers, senior officials, heads of state and government representatives, as well as sustainability experts, specialists, and guests from around the world.

During the ceremony, His Highness welcomed participants to Abu Dhabi and noted that Abu Dhabi Sustainability Week reflects the UAE’s role as a convening platform for dialogue and action, bringing together governments, businesses and investors to turn shared ambitions into practical outcomes.

He also highlighted the rapid growth of advanced technologies and the digital economy, emphasising the role of innovation, particularly artificial intelligence, in improving efficiency, strengthening resilience and supporting inclusive economic growth.

The opening ceremony commenced with the UAE national anthem and featured a film focused on the importance of achieving integration across systems and sectors to build a sustainable future.

His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology and Chairman of Masdar, delivered the keynote address, welcoming Their Highnesses, heads of state, ministers and summit guests and expressing appreciation for the UAE leadership’s continued support for clean energy and sustainable development.

Dr. Al Jaber highlighted the UAE’s pragmatic, results-driven approach to growth, noting that international cooperation and leadership in energy, industry and advanced technology remain central to the country’s long-term vision.

Held under the theme ‘The Nexus of Next: All Systems Go,’ Abu Dhabi Sustainability Week 2026 brings together stakeholders from the energy, finance, food, water, and environmental sectors to advance integrated solutions that strengthen resilience and accelerate impact across interconnected systems.

This year’s programme focuses on emerging priorities such as AI-enabled energy systems, climate finance, and innovations that support food and water security. By convening leaders and experts across these sectors, ADSW 2026 aims to establish a global model for deepening cross-sector collaboration and delivering tangible outcomes.

Abu Dhabi Sustainability Week runs until 15 January. The programme includes the IRENA Assembly (11-12 January), the ADSW Summit (13-14 January), and a series of fora and exhibitions taking place throughout the week, including the ADSW Dialogues, World Future Energy Summit, the Youth For Sustainability (Y4S) Forum (13-15 January), the annual WiSER Forum and Global South Utilities Forum (14 January), the Green Hydrogen Summit, the Zayed Sustainability Prize Investor Connect, the Blue Forum, and the Global Climate Finance Centre Annual Meeting (15 January).

• Masdar’s capacity reaches 65GW, two-thirds of the way to the company’s 100GW 2030 target

• US$45bn invested to date, with a further US$30-35bn to be deployed this decade

• Masdar will continue to pursue a technologically and geographically diversified strategy while prioritizing projects that offer strong, resilient financial returns

• 2025 delivered world-first round-the-clock renewables, major offshore wind milestones and expansion across Europe, Asia and the Middle East

• Speaking at Abu Dhabi Sustainability Week 2026, HE Dr Sultan Al Jaber pays tribute to His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, for the vision behind Masdar

Abu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader, today announced that its renewable energy portfolio capacity has reached 65 gigawatts (GW), up from 51GW in 2025, marking two decades since the UAE made the strategic decision to invest early in clean energy.

Of the 65GW portfolio, 45GW is operational, under construction, or committed, with a further 20GW of advanced pipeline, placing Masdar two-thirds of the way to its 100GW by 2030 target.

A disciplined, diversified approach to expansion

To deliver the next phase of growth, Masdar will deploy an additional US$30-35 billion in equity and project finance by 2030, adding an average of 10GW of new capacity each year. This expansion will be funded through a disciplined mix of equity, green bonds and long-term project financing secured against high-quality assets.

As its portfolio scales, Masdar will maintain a geographically and technologically diversified footprint, with its equity investment split broadly across renewable technologies and weighted toward high-growth, investment-grade markets.

20 years of leadership: Positioned to capture the growth in energy demand

Through long-term partnerships, innovation, and US$45bn in investment, Masdar has helped drive down costs, increase efficiency, and overcome structural challenges such as intermittency, helping make renewables the cheapest and fastest way to deploy new electricity capacity globally.

Today, Masdar is one of the world’s largest owners and operators of renewables worldwide, with platforms for growth in the world’s most commercially attractive, fast-growing energy markets. The company is well-positioned to capture the anticipated growth in energy demand, driven by electrification, economic growth, and the rapid expansion of Artificial Intelligence.

Redefining the role of renewable energy

Masdar’s growth in 2025 was marked by landmark projects and transactions that accelerated its global expansion and strengthened its diversified portfolio. In the UAE, Masdar and EWEC broke ground on the world’s first gigascale round-the-clock renewable energy project, combining a 5.2GW solar PV plant with a 19GWh battery energy storage system, to provide dispatchable clean power at scale.

In Europe, Masdar completed the 100 percent acquisition of TERNA ENERGY in Greece, strengthened its ongoing partnership with ENEL and Endesa in Spain, completing a €368 million solar PV acquisition, and reached financial close with Iberdrola on the €5.2 billion East Anglia THREE offshore wind project in the United Kingdom, one of the largest offshore wind financings of the past decade.

Masdar’s offshore wind footprint continued to grow with the full energization of the 476MW Baltic Eagle wind farm in Germany, marking the first operational milestone in its partnership with Iberdrola in the German offshore wind market.

Beyond Europe, Masdar entered high-growth markets in Southeast and Central Asia, signing agreements for 1GW of projects in the Philippines, a 200MW floating solar project in Malaysia, and Uzbekistan’s largest standalone battery energy storage system at Zarafshan.

In 2025, Masdar further strengthened its balance sheet in 2025 through the issuance of its third green bond, bringing the total issuance to around US$2.75 billion.

His Excellency Dr Sultan Ahmed Al Jaber, Chairman of Masdar, said:

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

Since its establishment in 2006, Masdar has developed and invested in renewable energy projects in more than 40 countries globally, supporting energy security, economic diversification and sustainable growth worldwide.

• PPA secures offtake for the 150MW Quipungo Solar PV site, Masdar’s first Power Purchase Agreement in Angola

• Agreement signed with Rede Nacional de Transporte de Electricidade at the IRENA General Assembly in Abu Dhabi, part of Abu Dhabi Sustainability Week

• Quipungo project forms the first phase of Project Royal Sable, a 500MW multi-site solar program

Abu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader, has signed a Power Purchase Agreement (PPA) for the 150-megawatt (MW) Quipungo Solar Photovoltaic project in Angola, marking Masdar’s first PPA in the country. The Quipungo project represents the first contracted site under Project Royal Sable, a planned 500MW renewable energy programme across three sites that will strengthen Angola’s southern power grid and support the country’s sustainable development objectives.

The agreement was signed with the state-owned offtaker Rede Nacional de Transporte de Electricidade (RNT-EP). It was signed on behalf of Masdar by Abdulaziz Alobadli, Chief Operating Officer, and on behalf of RNT-EP by Mauro Hernany Ferrerira Martins, Executive Director for Market Operations and Regulatory Affairs. The signing took place on the sidelines of the IRENA General Assembly, part of Abu Dhabi Sustainability Week, and was witnessed by H.E. Dr. Amna bint Abdullah Al Dahak, UAE Minister of Climate Change and Environment, H.E. João Baptista Borges, Angola’s Minister of Energy and Water, H.E. Júlio Belarmino Gomes Maiato, Ambassador of the Republic of Angola to the UAE, H.E. Francesco LaCamera Director-General of the International Renewable Energy Agency (IRENA), and Mohamed Jameel Al Ramahi, Masdar’s Chief Executive Officer.

The PPA secures long-term electricity offtake from the 150MW Quipungo Solar PV site, located in Huila Province in southern Angola. By establishing the first commercial anchor project under Project Royal Sable, the agreement provides a foundation for the phased development of the wider 500MW portfolio, which once completed is expected to create more than 2,000 jobs, deliver clean electricity to around 300,000 homes, and enhance power generation capacity in Angola’s southern grid. Project Royal Sable reflects Masdar’s commitment to developing large-scale, bankable renewable energy infrastructure in emerging markets, supporting national energy strategies while expanding access to reliable, affordable clean power.

H.E. Francesco LaCamera Director-General of the International Renewable Energy Agency (IRENA) commented:

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

Masdar is now the largest operator of renewables on the continent through its joint venture, Infinity Power, which currently operates 1.3GW of solar and onshore wind power projects in South Africa, Egypt, and Senegal, and has a 13.8GW project pipeline, including battery storage and green hydrogen facilities, in various stages of development. The addition of Project Royal Sable will contribute to Masdar’s target of 100 GW portfolio capacity by 2030.