Masdar History and Legacy
In 2006, the UAE government established Abu Dhabi Future Energy Company PJSC (Masdar) to leverage and build on the UAE’s expertise and leadership in the global energy sector, while supporting the diversification of both its economy and energy sources for the benefit of future generations.
Under the leadership of His Excellency Dr Sultan Ahmed Al Jaber, Masdar’s founding CEO and now chairman, Masdar has played an important and evolving role in advancing renewable energy, climate action, and sustainability, both domestically and internationally.
It has achieved many renewable energy important firsts, such as the inauguration of the world’s largest concentrated solar plant, Shams 1, and the development of one of the world’s largest offshore wind farms, the London Array.
Masdar has been at the forefront of innovation, with pioneering projects like Hywind Scotland, the world’s first floating wind farm, and the Renewable Energy Desalination Pilot Program in Ghantoot, which tested the viability of using renewable energy to power seawater desalination.
It has also given the world an example of sustainable urban development with Masdar City, which has become one of the world’s largest clusters of low-carbon buildings.
Masdar has supported global climate action and access to sustainable solutions through its strategic platforms, like the annual Abu Dhabi Sustainability Week and the Zayed Sustainability Prize, whose 96 winners alone have impacted over 370 million people around the world.
In December 2021, Masdar entered a new chapter in its history with the announcement that Abu Dhabi National Energy Company PJSC (TAQA) and Abu Dhabi National Oil Company (ADNOC) would join the Mubadala Investment Company as Masdar shareholders to create a truly global clean energy powerhouse. This bold partnership brings together the extensive experience in renewable energy shared by TAQA, Mubadala and Masdar, with ADNOC’s experience in hydrogen and infrastructure, global trading capabilities, and logistics network.
With the new shareholding structure coming into effect in December 2022, a new Masdar is born. The new Masdar is a clean energy powerhouse that will spearhead the UAE’s Net Zero by 2050 strategic initiative while cementing the UAE’s role as a global leader in the green hydrogen economy. Masdar is now one of the largest clean energy companies of its kind and is well-positioned to lead the industry on a global scale.