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• Dogger Bank South Offshore Wind Farms to be considered by UK Planning Inspectorate

• Projects expected to support up to 2,380 UK jobs during development and construction

• The 3 gigawatt wind farms could provide electricity for up to three million UK homes

RWE and Masdar have achieved a key milestone for the DBS (Dogger Bank South) Offshore Wind Farms as the Development Consent Order (DCO) application has been accepted into the UK Planning Inspectorate examination phase.

The DBS East and DBS West offshore wind farms, which could provide electricity for up to three million typical UK homes*, are located in shallow waters on the Dogger Bank over 100km off the northeast coast of England. The acceptance of the DCO application moves the projects into the pre-examination phase, which will become subject to a public examination later in 2024.

Together, the projects will have up to 200 turbines with a combined estimated capacity of three gigawatts. Investment by RWE and Masdar during development and construction is predicted to deliver an economic contribution (Gross Value Added) to the UK of almost £1 billion, including £400 million in the Humber region.

Husain Al Meer, Director, Global Offshore Wind at Masdar, said:

Sven Utermöhlen, CEO RWE Offshore Wind, said:

“The DBS Offshore Wind Farms demonstrate Masdar’s dedication to building the equitable energy system of tomorrow, and we are excited that we are one step closer to making it a reality.”

RWE will be leading development, construction and operation on behalf of the project partners RWE (51% share) and Masdar (49% share). RWE entered into Agreements for Lease for the two DBS projects with The Crown Estate in January 2023. In December 2023, Masdar announced it had acquired a 49 percent stake in the DBS offshore wind projects. The shareholding agreement between the companies was finalized in February 2024.

The DBS projects will make an important economic contribution to the region, support the UK’s net zero ambitions, and boost its broader economic growth and energy security. The next steps for the projects, following a successful Development Consent Order, would be to secure Contracts for Difference (CfD), followed by financing and construction.

• Emerge Limited, a joint venture between Masdar and the EDF Group, breaks ground on SNOC's 60MWp solar PV plant in Sharjah

• Plant is expected to offset 66,000 CO2 emissions annually, equivalent to taking over 14,600 cars off the road each year

• Emerge will operate and maintain turnkey solutions across the project for 25 years

The Emirate of Sharjah oil and gas industry leader, Sharjah National Oil Corporation (SNOC), and Emerge Limited, a joint venture between Masdar and the EDF Group, celebrated a significant milestone today with the groundbreaking ceremony for the largest solar installation in Sharjah to date.

The 60MWp ground-mounted solar PV plant, located at SNOC's Sajaa Gas Complex, will generate enough clean energy to offset 66,000 tons of CO2 emissions annually, equivalent to removing more than 14,600 cars from the road each year.

The project supports SNOC's commitment to decarbonization and its goal of achieving net-zero emissions by 2032. It will significantly decrease SNOC's dependence on traditional fossil fuels for its operations and provide a cost-effective source of clean energy. The project aligns with the United Arab Emirates' ambitious Net-Zero 2050 strategy. By promoting renewable energy sources, this initiative contributes to the UAE's transition towards a more sustainable, environmentally conscious future for Sharjah and the wider region.

SNOC Chief Executive Officer, Hatem Al Mosa, said

Michel Abi Saab, Emerge General Manager, said:

Emerge will handle the entire project lifecycle under a Build-Own-Operate-Transfer (BOOT) agreement. This includes financing, design, procurement, construction, operation, and maintenance of the solar modules for a period of 25 years.

• Newly Established Consortium Signs Framework Agreement with Egyptian Government

bp has entered into a Joint Development Agreement (JDA) to join the existing consortium comprising of Masdar, Hassan Allam Utilities and Infinity Power to explore the potential development of a multi-phase green hydrogen (gH2) project in Egypt.

Under the JDA, bp will act as the lead developer and operator of the project on behalf of the consortium. The partners are combining their respective gH2 projects in Egypt and will also explore the potential for a single large-scale, multi-phase project for the development of gH2 and its derivatives, with a focus on exports.

The newly formed consortium has signed a Framework Agreement (FWA) with the Egyptian government to start carrying out a set of studies and activities to evaluate the technical and commercial feasibility of the project.

The FWA agreement was signed on the sidelines of the Egypt-EU Investment Conference by Nader Zaki, bp’s Regional President, Middle East and North Africa; Karim Hefzy, Chief Operating Officer of Hassan Allam Utilities; Andreas Bieringer, Director, Green Hydrogen Business Development and Commercial, Masdar and Mohamed Ismail Mansour, Chairman of Infinity Power, and witnessed by H.E. Dr. Moustafa Madbouly, Prime Minister of Egypt, Dr. Mohamed Shaker, the Minister of Electricity and Renewable Energy, and Dr. Hala El-Said, the Minister of Planning and Economic Development.

"We are pleased that the signing coincides with our celebration of 60 years in Egypt, which clearly reflects our ongoing commitment to the country. Over the decades, we have been a key supplier of energy in Egypt, consistently working to meet its increasing energy demands while supporting its endeavors for a more sustainable energy future. The diverse experiences of partners in energy projects present a great opportunity for regional cooperation and accessing global markets, fundamentally supporting Egypt's energy transition plans." said Nader Zaki, bp's regional president for the Middle East and North Africa.

Mohammad Abdelqader El Ramahi, Masdar’s Chief Green Hydrogen Officer said:

Amr Allam, Co-CEO Hassan Allam Holding, said:

Felipe Arbelaez, bp’s SVP Hydrogen and CCS added:

Mohamed Ismail Mansour, Chairman of Infinity Power said:

Nayer Fouad, CEO of Infinity Power added:

• Deal represents largest ever energy transaction on Athens Stock Exchange, and one of largest in EU renewables Industry

• Masdar has signed a definitive agreement with GEK TERNA and other shareholders to acquire initially 67%¹ of the outstanding shares of TERNA ENERGY at completion of the transaction at a price of 20.00² euros per share³

• The acquisition price⁴ represents an equity valuation of 2.4 billion euros and an enterprise value (EV) of 3.2bn euros

• Subject to closing of the transaction, Masdar will launch an all-cash mandatory tender offer to acquire all the remaining shares of TERNA ENERGY with the intention of reaching 100%

• The deal will provide significant capital investment in Greece and other EU countries, unlocking renewable energy capacity and supporting the EU’s net zero by 2050 goals

• TERNA ENERGY is expected to play an important role in growing Masdar’s portfolio across Europe as it targets 100 gigawatts (GW) global capacity by 2030 in support of the global energy transition

   

ABU DHABI, UAE & ATHENS, Greece – June 20, 2024 – Abu Dhabi Future Energy Company PJSC – Masdar (“Masdar”), the UAE’s clean energy leader, announced today that it has reached a definitive agreement with GEK TERNA SA (GEKTERNA.AT) and other shareholders of TERNA ENERGY SA (TENERGY.AT), with the intention to acquire initially 67% of the company’s outstanding shares at completion of the transaction, subject to regulatory approvals and other conditions. After completion of the transaction, Masdar will launch an all-cash mandatory tender offer to acquire all the remaining outstanding shares of the company with the intention of reaching 100%.

The transaction and subsequent offer values TERNA ENERGY’s total equity at 2.4bn euros⁵ with an enterprise value of 3.2bn euros, making it the largest ever energy transaction on the Athens Stock Exchange, and one of the largest in the European renewables market.

The deal is expected to provide significant capital investment in Greece and other European countries, supporting TERNA ENERGY’s contribution to Greece’s National Energy and Climate Plan (NECP) and the EU’s net zero by 2050 target. The proposed acquisition demonstrates the scale and ambition of Masdar’s growth plans in the region, and further solidifies Masdar’s role as a trusted global energy transition partner to governments, investors, developers and communities across the globe.

Background and reasons for the transaction

Established in 1997, TERNA ENERGY is a leading European clean energy platform, with a track record of more than 25 years of delivering innovative and sustainable projects. The company specializes in financing, developing, constructing and operating renewable energy facilities, focused on wind, solar, hydroelectric and pumped storage projects.

The company has recently announced its growth plan targeting renewable energy operational capacity of 6GW by 2030. With a strong portfolio of projects in Greece and Europe, TERNA ENERGY is the largest investor in the renewables energy sector in Greece.

The proposed acquisition is expected to play an important role in growing Masdar’s portfolio in Europe as it targets 100GW global capacity by 2030. It also reflects Masdar’s confidence in TERNA ENERGY's growth potential, as well as the strength of the Greek market and its renewables sector.

The transaction is aligned with GEK TERNA’s strategy of becoming the leading diversified infrastructure group in Greece and Southeast Europe and will accelerate the Group's path to a new growth era.

Demonstrating continuity in leadership, TERNA ENERGY’s Executive Chairman, Georgios Peristeris, and Chief Executive Officer, Emmanuel Maragoudakis, will continue in their current roles following completion of the transaction and support Masdar in leading the company in its next phase of growth.

HE Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar and COP28 President, said:

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

Georgios Peristeris, Chairman and CEO of GEK TERNA, and Executive Chairman of TERNA ENERGY, said:

Masdar has retained Rothschild & Co. as sole financial advisor, and Simmons & Simmons, Bernitsas Law, Latham & Watkins as legal advisors, in connection with the transaction and financing.

GEK TERNA Group was supported by Reed Smith LLP and Potamitis Vekris, who were the international and Greek legal advisors for the transaction respectively, while Morgan Stanley has been acting as sole financial advisor to TERNA ENERGY.

¹ Subject to regulatory approvals and other conditions precedent.

² Subject to customary adjustments.

³ Overall return to TERNA ENERGY shareholders also includes an agreed dividend distribution of €0.38 per share

⁴ Subject to customary adjustments

⁵ Ibid.

• WiSER Cares program completes a five-day course on adaptive agriculture in Marrakesh, Morocco.

• Course focused on addressing three core climate challenges facing the agriculture sector: water scarcity, soil degradation and erosion, and invasive pests and diseases.

• Eighteen WiSER Pioneers and local participants discovered invaluable insights into climate-resilient adaptive agriculture.

Women in Sustainability, Environment, and Renewable Energy (WiSER) - a global initiative established by the UAE’s two leading sustainability champions, Masdar and the Zayed Sustainability Prize - has successfully completed the latest instalment of its WiSER Cares program.

Taking place in Marrakesh, and entitled, “Adaptive Agriculture: Innovations in Technology and Practice for Water-Scarce Communities," the course formed part of WiSER's multidisciplinary program to engage members in sustainable community development.

Dr. Lamya Fawwaz, Masdar’s Executive Director of Brand & Strategic Initiatives and WiSER Program Director emphasized the direct impact of the course on the participants’ understanding of water access issues: “We are proud to offer the WiSER Cares course in Morocco as part of Masdar’s long-running effort to empower and equip young women with the knowledge and skills necessary to lead their communities and the world in building a more sustainable future.

“Through our core pillars of education, engagement and empowerment, WiSER Cares aims to provide courses that enhance the practical, theoretical and leadership skills of women through cultural exchange and building connections through a sustainability lens that works to accelerate the clean energy transition in rural off-grid communities,” added Dr. Fawwaz.

The course, led by global and local experts, focused on addressing three core climate challenges facing the agriculture sector: water scarcity, soil degradation and erosion, and the threat posed by invasive pests and diseases. It brought together 18 women – 13 WiSER Pioneers and 5 Moroccan professionals – to discover invaluable insights into the power of climate-resilient adaptive agriculture.

Organizations engaged included the University Mohammed VI Polytechnic (UM6P), Fondation Mohammed VI Pour La Protection De L’Environnement, National Institute of Research in Agronomy (INRA) CRRA, Museum Mohammed VI for the Water Civilization, CIPA-Pierre Rabhi Farm, and Gardens of Jnane Tamsna.

Participants were guided through a program of lectures and practical exercises, including site visits to farms, research centres, and agribusinesses. The immersive hands-on experience offered participants a firsthand look at the climate challenges faced by water-scarce communities. This facilitated discussions on a wide range of agriculture adaptation strategies aimed at tackling food insecurity and increase economic independence.

"This course provided an invaluable opportunity to learn about the innovative approaches used by various communities, institutions and pioneering civil organizations in adaptive agriculture and apply those lessons to real-world challenges," said Tosin George, Solar Operations Consultant at Garfana Energy and 2024 WiSER Pioneer. "I will take many important learnings and insights back to my community, and this will help prepare us better for the climate challenges that we are facing."

The program concluded with workshops on planting and harvesting, a demonstration of how solar energy can be harnessed for water pumping and conservation, as well as a visit to the Museum of the Water Civilization in Marrakesh, which focused on traditional water management and community engagement.

“We were thrilled to offer this immersive learning experience as part of the WiSER Cares initiative,” said Dr. Redouane Choukrallah, Senior Professor, Agricultural Innovation and Technology Transfer Center (AIITC) and University Mohammed VI Polytechnic (UM6P). “Equipping the next generation of female leaders with the knowledge and tools to tackle climate challenges is crucial for building resilient, food secure communities.”

WiSER is a global initiative 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 commitment traced directly back to the vision of 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.

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.

• Emerge, a joint venture between Masdar and EDF Group, signs agreement to develop rooftop solar plant for AJ Steel Pipes

• 3MWp plant will offset over 2,500 tonnes of CO2 emissions per year and generate more than 5,000MWh of electricity annually

• Emerge will operate and maintain all turnkey solutions across the project for 25 years

Emerge, a joint venture between Masdar and EDF Group, has signed an agreement to install a 3MWp rooftop solar PV plant for leading UAE steel pipe manufacturer and exporter, AJ Steel Pipes.

The decarbonization of “hard-to-abate” industries is one of the priorities identified at COP28 for achieving a carbon neutral future. Steel companies such as AJ Steel Pipes are looking to utilize efficient and carbon-free solutions that combine innovation and technology to achieve a more sustainable operation.

Situated on the roof of AJ Steel Pipes’s facilities in Mussafah, Abu Dhabi, the plant will offset over 2,500 tonnes of CO2 emissions a year and generate more than 5,000MWh of electricity annually.

The plant, consisting of more than 5,000 solar PV modules, will be delivered by Emerge as a turnkey solution, including finance, design, procurement, construction, operations, and maintenance of the solar modules for 25 years.

Michel Abi Saab, Emerge General Manager, said:

M Ismail, AJ Steel Pipes Executive Director, said:

Emerge, a joint venture between Masdar and EDF Group, was formed in 2021 to develop distributed solar, energy storage, and hybrid solutions for commercial and industrial applications. As an energy services company, Emerge offers clients full turnkey solutions through solar power agreements at no up-front cost to the client.

The project contributes to the UAE Energy Strategy 2050 initiative, which aims to see clean energy make up 44 per cent of the country’s energy mix by 2050. Rooftop solar PV could provide approximately 6 per cent of the UAE’s total power generation by 2030, according to a projection by the International Renewable Energy Agency in its REmap 2030 report on renewable energy prospects for the UAE.

• President of Azerbaijan and COP28 President mark opening of Baku Energy Week with groundbreaking of wind and solar projects

• Three projects with 1GW capacity developed in partnership with SOCAR will accelerate Azerbaijan’s energy transition

• Projects part of Masdar’s 10GW pipeline supporting Azerbaijan’s ambitions to generate 30 percent of its energy capacity from renewable power by 2030

Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse and SOCAR, the State Oil Company of Azerbaijan, have broken ground on three major solar and wind projects in Azerbaijan with a capacity of 1 gigawatt (GW).

The groundbreaking, which took place at the opening ceremony of Baku Energy Week, reinforces Masdar’s long-term commitment to Azerbaijan as a global strategic partner.

The ceremony was overseen by HE Ilham Aliyev, President of Azerbaijan, and HE Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar and COP28 President. Also in attendance were, HE Parviz Shahbazov, Azerbaijan Minister of Energy, HE Mikayil Jabbarov, Azerbaijan Minister of Economy and Chairman of the Supervisory Board of SOCAR and Masdar Chief Executive Officer, Mohamed Jameel Al Ramahi.

The three groundbreakings include the 445MW Bilasuvar Solar PV Project, 315MW Neftchala Solar PV Project and the 240MW Absheron-Garadagh Onshore Wind Project. Investment agreements for the projects were reached in October 2023, followed by the signing of Power Purchase Agreements, Transmission Connection Agreements, and Land Lease Agreements.

On the sidelines of Baku Energy Week, Masdar and SOCAR also signed a Shareholder Agreement for the three projects.

HE Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar and COP28 President, said:

HE Parviz Shahbazov, Azerbaijan Minister of Energy said:

HE Mikayil Jabbarov, the Minister of Economy of the Republic of Azerbaijan, Chairman of the Supervisory Board of SOCAR said:

Masdar Chief Executive Officer Mohamed Jameel Al Ramahi said:

The groundbreaking follows Masdar’s completion of the 230MW Garadagh solar plant in October 2023, Azerbaijan’s first foreign investment-based independent solar power project, and the largest solar plant in the region.

Established in 2006, Masdar, the UAE’s clean energy champion, is aiming for a renewable energy portfolio capacity of 100GW by 2030, supporting the target set in The UAE Consensus to triple global renewables capacity by the end of this decade, whilst aiming to be a leading producer of green hydrogen by the same year.

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Our latest Power to Change video is out now.

Our new Power to Change film takes us to the Caribbean Island of Barbuda, where we meet communities on the front lines of rebuilding their lives in the wake of Hurricane Irma, the Category 5 hurricane that destroyed 95 percent of the island on September 6, 2017.

The devastating event left the island barely habitable, forcing all 1,800 residents to evacuate their homes to neighboring Antigua. Now, as they complete the process of rebuilding the island, they are being supported by a safe, reliable and sustainable supply of electrical power developed by Masdar.

As part of its work with the UAE-Caribbean Renewable Energy Fund (UAE-CREF), Masdar implemented the Green Barbuda Project, providing the island with a hurricane-resistant hybrid solar PV plant that can power 100 percent of Barbuda’s energy needs.

Watch the video on our YouTube channel to see how this 720kwh plant is providing job opportunities and energy security to Barbudan residents on the beloved island they call home.

• Solar car park will generate 30 percent of total annual energy demand at Yas Marina Circuit

• Yas Bay Waterfront Project will offset 425 tonnes of CO2 emissions per year as Miral drives sustainability efforts

• Energizations advance clean energy deployment in UAE entertainment sector

Abu Dhabi, United Arab Emirates; May 23, 2024: Emerge, a joint venture between the UAE’s Masdar and France’s EDF Group, has announced the successful energization of two high-profile solar photovoltaic (PV) projects on Yas Island at Yas Marina Circuit and Yas Bay Waterfront, Abu Dhabi’s vibrant day-to-night dining, entertainment and leisure destination.

The 1 megawatt peak (MWp) solar car park at Ethara’s Yas Marina Circuit, home to the Formula 1 Etihad Airways Abu Dhabi Grand Prix, will generate approximately 30 percent of Yas Marina Circuit’s total annual energy demand, equivalent to powering nearly 200 Abu Dhabi households and offsetting 900 tonnes of CO2 emissions a year.

Under its agreement with the venue’s operator, Ethara, Emerge has installed more than 1,800 solar modules across the car park of the track, which holds a capacity of 60,000 spectators, delivering a comprehensive turnkey solution for the project, including finance, design, procurement, construction, operations, and maintenance for 25 years.

The 520kWp Yas Bay Waterfront development for Miral involved the installation of over 900 solar modules, equivalent to powering around 100 Abu Dhabi households and offsetting 425 tonnes of CO2 emissions a year. The solution included finance, design, procurement and construction and Emerge will operate and maintain the solar modules.

Jonathan Brown, Chief Portfolio Officer at Miral, said:

Hesham Al Jneibi, Yas Marina Circuit and Etihad Park General Manager, said:

Michel Abi Saab, General Manager, Emerge, said:

Yas Bay Waterfront is the third collaboration between Miral, the leading creator of immersive destinations and experiences in Abu Dhabi, and Emerge. In March 2023, Miral inaugurated Abu Dhabi's largest solar rooftop project at Warner Bros. World™ Abu Dhabi, with an impressive 7-megawatt peak (MWp) capacity. The project incorporates approximately 16,000 solar modules across the theme park's roof area of 36,000 square meters and produces nearly 40 percent of its annual energy demand.

Emerge has also deployed on-site solar energy systems at the SeaWorld Abu Dhabi theme park, which has a capacity of 8.4 megawatts (MWp) and is scheduled to be commissioned during the second quarter of 2024.

Emerge, a joint venture between Masdar and EDF Group, was formed in 2021 to develop distributed solar, energy storage and hybrid solutions for commercial and industrial. As an energy services company, Emerge offers clients full turnkey solutions through solar power agreements and energy performance contracting at no upfront cost to the client.

– ENDS –

About Miral

Miral is the leading creator of immersive destinations and experiences in Abu Dhabi, that contributes to the growth of the leisure and entertainment industry and Abu Dhabi’s economic diversification. It conceives, creates, operates, and manages immersive destinations and experiences that attract visitors from across the world to create unforgettable memories, accelerating the realization of the Emirate’s tourism vision and growth.

Responsible for the development of Yas Island and overseeing Saadiyat Island's Destination Management Strategy, Miral’s portfolio of world-class assets incorporates entertainment, leisure, culture, sport, dining, retail, and hospitality experiences, aiming to deliver millions of memorable moments for residents and international guests alike. These include SeaWorld Yas Island, Abu Dhabi, Ferrari World Yas Island, Abu Dhabi, Warner Bros. World™ Abu Dhabi, CLYMB™ Abu Dhabi, Yas Waterworld Abu Dhabi, Yas Marina, and Yas Bay Waterfront, home to the UAE’s largest indoor multi-purpose venue Etihad Arena, amongst others. Miral also has several projects being developed on Yas Island and across the emirate, including teamLab Phenomena Abu Dhabi, Natural History Museum Abu Dhabi, and a Harry Potter themed land within Warner Bros. World Abu Dhabi.

Miral encompasses three subsidiaries: Miral Destinations, which promotes unique destinations; Miral Experiences, which operates a diverse portfolio of world-class, award-winning immersive experiences; and Yas Asset Management, which operates and manages a portfolio of vibrant destinations including F&B, retail, marinas and hospitality properties across Yas Island.

For more information, visit www.miral.ae.

About Ethara

Ethara is shaping the future of events and venues regionally and internationally. Headquartered on Abu Dhabi’s Yas Island, and with offices in Dubai and Riyadh, the company employs over 300 professionals who offer an unrivalled wealth of expertise, experience, knowledge, and skills in the entertainment industry. Ethara, meaning ‘thrill’ in Arabic, operates an impressive portfolio of assets, including Yas Marina Circuit, Etihad Park, Etihad Arena, and the Yas Conference Centre. The company works with leading events companies, IP owners, and entertainment partners locally and internationally to deliver world-class, first-to-market events and experiences.

For further information, visit: www.ethara.com

About Emerge

Emerge is a joint venture between Masdar and EDF Group established to develop solar generation, energy storage and hybrid solutions in the Middle East. We support our commercial and industrial (C&I) partners in achieving their sustainability goals. A home-grown company, Emerge was founded in 2021 and has since established a robust performance record. Emerge provides clients with comprehensive renewable energy solutions via solar power agreements. Clients do not have to make any initial financial commitments. This empowers our customers to concentrate on their core operations while reducing operational and energy expenditures.

Website: https://emerge-energy.com/
LinkedIn: https://www.linkedin.com/company/emerge-energy-company
Email: info@emerge-energy.com

About Masdar

Abu Dhabi Future Energy Company (Masdar) is the UAE’s clean energy champion and one of the world’s fastest growing renewable energy companies, advancing the development and deployment of renewable energy and green hydrogen technologies to address global sustainability challenges. Established in 2006, Masdar has developed and partnered in projects in over 40 countries, helping them to achieve their clean energy objectives and advance sustainable development. Masdar is jointly owned by Abu Dhabi National Oil Company (ADNOC), Mubadala Investment Company (Mubadala), and Abu Dhabi National Energy Company (TAQA), and under this ownership the company is targeting a renewable energy portfolio capacity of at least 100 gigawatts (GW) by 2030.

Contacts:

For media inquiries, please contact: press@masdar.ae
For more information please visit: http://www.masdar.ae and connect: facebook.com/masdar.ae and twitter.com/masdar

About EDF Group

The EDF Group is a key player in the energy transition, as an integrated energy operator engaged in all aspects of the energy business: power generation, distribution, trading, energy sales and energy services. The Group is a world leader in low-carbon energy, with a low carbon output of 434TWh, a diverse generation mix based mainly on nuclear and renewable energy (including hydropower). It is also investing in new technologies to support the energy transition. EDF’s raison d’être is to build a net zero energy future with electricity and innovative solutions and services, to help save the planet and drive well-being and economic development. The Group supplies energy and services to approximately 40.9 million customers (1) and generated consolidated sales of €139.7 billion in 2023.

Customers are counted per delivery site. A customer may have two delivery points.

For media enquiries, please contact: Alexandra.taleva@edf.com; +971 54 522 73 73
For more information please visit: https://www.uae.edf.com
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• UAE Minister of Energy and Infrastructure, His Excellency Suhail Mohamed Al Mazrouei, witnesses signing on the sidelines of the World Water Forum, Bali, Indonesia

• Masdar signs agreement with Pertamina Power Indonesia to develop solar, wind and green hydrogen projects in Indonesia and internationally

• Signs Joint Development Study Agreement with PLN Nusantara Power for Cirata Phase II, and Masdar receives approval to develop up to 2GW of renewable energy in Indonesia’s new capital city, Nusantara

Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, has signed strategic agreements for new renewable energy projects in Indonesia in support of the country’s energy transition. The agreements reinforce the ongoing partnership between the UAE and Indonesia towards developing the region’s renewables sector, while supporting Indonesia’s current and future energy needs.

The signing of the agreements on the sidelines of the 10th World Water Forum in Bali were witnessed by: the UAE Minister of Energy and Infrastructure and Special Envoy for His Highness the Minister of Foreign Affairs to Indonesia, HE Suhail Mohamed Al Mazrouei, UAE Ambassador to the Republic of Indonesia and ASEAN, HE Abdulla Salem Obaid Al Dhaheri, Indonesia’s Coordinating Minister of Maritime Affairs and Investment, HE General (Retd) Luhut Pandjaitan, Indonesia’s Ambassador for the UAE, HE Husin Bagis, and Director General of New, Renewable Energy, and Energy Conservation, Ministry of Energy and Mineral Resources (MEMR), Prof. Dr. Eng. Eniya Listiani Dewi.

The agreements were signed by Masdar’s Director of Development & Investment, Abdulla Zayed, the Chief Executive Officer Pertamina Power Indonesia (“Pertamina NRE”), John Anis, President Director of PLN Nusantara Power, Ruly Firmansyah, and Agung Wicaksono, Deputy Chair of Funding and Investment, Nusantara Capital City Authority.

His Excellency Suhail Mohamed Al Mazrouei said:

Mohamed Jameel Al Ramahi, Masdar’s Chief Executive Officer, commented:

The agreements included: a Memorandum of Understanding (MoU) with Pertamina Power Indonesia, for the development of solar, wind and green hydrogen projects in Indonesia and abroad. This builds on Masdar’s existing partnership with the company through Pertamina Geothermal Energy. The MoU represents a significant step forward in strengthening the strategic relationship between Masdar and Pertamina Power Indonesia.

Masdar also signed a Joint Development Study Agreement with PLN Nusantara Power for Cirata Phase II to triple capacity by up to 500MW, following the successful 2023 launch of the initial 145MW phase of the innovative floating PV project– the largest of its kind in the region.

Supporting the energy transition in urban environments, Masdar received approval to proceed towards developing up to 2GW of renewable energy in Nusantara, starting with 200 megawatts as phase 1, in Indonesia’s new capital city. This follows a proposal by Masdar to meet the city’s energy needs by 2045, using solar and wind projects.

John Anis, Pertamina NRE’s CEO, added:

Ruly Firmansyah, President Director of PLN Nusantara Power, said:

Bambang Susantono, Chairman of Nusantara Capital City Authority, commented:

Indonesia and Southeast Asia are key investment destinations for Masdar. The company has developed the region’s largest floating solar facility in Indonesia – the 145MW Cirata Floating Solar PV plant – which will generate enough electricity to power 50,000 homes. In February 2023, it entered the geothermal energy sector through a strategic investment in Pertamina Geothermal Energy.

Masdar is aiming for a renewable energy portfolio capacity of 100GW by 2030, supporting the target set in the UAE Consensus to triple global renewables capacity by the end of this decade, and aims to be a leading producer of green hydrogen by the same year.