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• Financing secured for 445MWac Bilasuvar and 315MWac Neftchala solar projects

• Agreements with EBRD, ADB and AIIB signed at COP29 in Baku. Total project costs expected to be more than USD 600 million

• Construction on solar parks due to complete by the first quarter of 2027

Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, and SOCAR Green, a wholly-owned subsidiary of SOCAR dedicated to sustainable projects, have reached financial close for the 445MW Bilasuvar and 315MW Neftchala solar projects in Azerbaijan.

The European Bank for Reconstruction and Development (EBRD), the Asian Development Bank (ADB) and the Asian infrastructure and Investment Bank (AIIB) are financing the two solar projects, with the total cost expected to be more than USD 600 million.

The agreements were signed on the sidelines of COP29 in Baku. They were witnesses by H.E. Parviz Shahbazov, Minister of Energy for the Republic of Azerbaijan, Abdulaziz AlObaidli, COO of Masdar, Afgan Isayev, Vice President of SOCAR, and Harry Boyd-Carpenter, Managing Director, Climate Strategy and Delivery at EBRD.

The agreements were signed by Abdulla Zayed, Director of Business & Project Development at Masdar, Elmir Musayev, General Director of SOCAR Green, Aida Sitdikova, Director Energy Eurasia, Middle East and Africa at EBRD, James Lok, Lead Investment Officer, Project and Corporate Finance Clients Department, Global at AIIB, and Mayank Choudhary, Director, Private Sector Operations Department at ADB.

Masdar and SOCAR Green broke ground on the Bilasuvar and Neftchala solar parks during a ceremony at Baku Energy Week in June 2024. Construction on the projects is due to be completed by the first quarter of 2027.

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

H.E. Parviz Shahbazov, Minister of Energy for the Republic of Azerbaijan, said:

Masdar Chief Executive Officer Mohamed Jameel Al Ramahi said:

Rovshan Najaf, President of SOCAR, said:

Masdar is dedicated to supporting Azerbaijan’s energy transition. It has signed agreements to develop onshore wind and solar projects and integrated offshore wind and green hydrogen projects with a total combined capacity of 10GW. Its first project in Azerbaijan, the 230MW Garadagh solar plant, was inaugurated in October last year.

Since its establishment in 2006, Masdar has been a key enabler of the UAE’s vision as a global leader in sustainability and climate action. The company has developed and partnered in projects in over 40 countries, with a mandate to increase its renewable energy portfolio capacity to 100GW by 2030 and to become a leading producer of green hydrogen by the same year.

Established in 2024, SOCAR Green is a wholly-owned subsidiary of SOCAR, a global energy company headquartered in Azerbaijan. Positioned at the forefront of the nation's transition to renewable energy, SOCAR Green drives the implementation of clean energy initiatives, including large-scale solar, wind, and green hydrogen projects. Through strategic partnerships with international leaders in renewable energy, SOCAR Green supports Azerbaijan’s commitment to achieving its national climate targets and contributing to global sustainability goals.

• Power Purchase Agreement for wind farm signed on sidelines of COP29

• 1GW wind farm in Kazakhstan’s Jambyl region is Masdar’s inaugural project in the country

Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, has signed a Power Purchase Agreement (PPA) with the Financial Settlement Centre for Renewable Energy Sources Support LLP for its 1GW wind farm in the Jambyl region of Kazakhstan.

The signing took place on the sidelines of COP29 in Baku and was witnessed by Sungat Yessimkhanov, Vice Minister of Energy of Kazakhstan and H.E. Sharif Al Olama, Undersecretary for Energy & Petroleum Affairs, Ministry of Energy and Infrastructure of the United Arab Emirates.

The agreement was signed by Abdulla Zayed, Director, Business and Project Development of Masdar and Gulzhan Nalibayeva, General Director of the Financial Settlement Centre for Renewable Energy Sources Support LLP.

It comes just days after Masdar signed the Investment Agreement for the project with the Ministry of Energy of Kazakhstan , which is set to be one of the largest wind farms in the Commonwealth of Independent States (CIS) region.

Mohamed Jameel Al Ramahi, CEO of Masdar, said:

Gulzhan Nalibayeva, General Director of the Financial Settlement Centre for Renewable Energy Sources Support LLP, said:

The wind farm is Masdar’s inaugural project in Kazakhstan, Central Asia's largest economy. It is located in the south of the country and features a 600-megawatt-hour (MWh) Battery Energy Storage System (BESS).

Masdar is the lead developer for the 1GW project, along with W Solar, Qazaq Green Power (a Samruk-Kazyna Group company), and the Kazakhstan Investment Development Fund.

Construction of the wind farm is expected to commence by Q1 2026. When completed, it will provide power to approximately 300,000 homes in the south of Kazakhstan, avoiding 2 million tonnes of CO2e emissions per year.

Today’s announcement builds on a commitment the governments of the UAE and Kazakhstan made at COP28 to cooperate on developing Kazakhstan’s renewables sector. The wind farm will support Kazakhstan’s ambitions to increase renewables capacity to 15 percent of its energy supply by 2030 (and to 50 percent by 2050) and achieve carbon neutrality by 2060.

Since its establishment in 2006, Masdar has been a key enabler of the UAE’s vision as a global leader in sustainability and climate action. The company has developed and partnered in projects in more than 40 countries, with a mandate to increase its renewable energy portfolio capacity to 100GW by 2030 and to become a leading producer of green hydrogen by the same year.

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Wind farms can represent a real risk for birds of prey but thanks to the power of AI, Masdar is helping to protect them against the risk of colliding with turbines at the 500MW Zarafshan wind farm in Uzbekistan.

In the largest implementation of AI into biodiversity protection at a wind farm anywhere in the world, Masdar has deployed Identiflight technology to detect birds of prey flying in the area around the wind turbines.

The system sends a signal to the operation centre to shut the wind turbine down if a bird is flying in the area and there is a risk of collision. Once the bird has left the area, it turns the turbine back on.

As one of the world’s leading clean energy companies, Masdar places a very high value on developing renewable energy projects that take into account minimisation of the impact to biodiversity.

There are around 110 wind turbines installed at the Zarafshan Wind Farm, with over 70 Identiflight towers deployed across the project to monitor resident and migratory species in the vicinity.

Birds of prey, which provide critical ecosystem services and are key for healthy habitats around the world, are particularly vulnerable due to their low lifespans, low reproductive rates, and general scarcity. They are also high risk due to their migratory habits.

• Memorandum of Understanding (MoU) signed at COP29 in Baku, Azerbaijan

• Expanding on existing partnerships, MoU aims to develop offshore wind projects for the first time in Azerbaijan

• Projects to support Azerbaijan’s and region’s energy transition targets

Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, has signed a Memorandum of Understanding (MoU) with SOCAR Green, a wholly-owned subsidiary of SOCAR dedicated to sustainable projects, and Saudi-listed ACWA Power, the world’s largest private water desalination company, leader in energy transition and first mover into green hydrogen, to develop 3.5 gigawatts (GW) of offshore wind projects in the Azerbaijan section of the Caspian Sea.

The potential projects would be Azerbaijan’s first offshore wind farms. The agreement supports plans by Azerbaijan to develop renewable energy, green hydrogen and water desalination projects.

The MoU was signed by Rovshan Najaf, President of SOCAR, Abdulaziz Alobaidli, Chief Operating Officer of Masdar, and Marco Arcelli, Chief Executive Officer of ACWA Power. Under the agreement, the signing parties will follow a Corporation Roadmap to identify key development milestones they want to achieve in the development of offshore wind in the country.

Mohamed Jameel Al Ramahi, CEO of Masdar, said:

Marco Arcelli, Chief Executive Officer of ACWA Power, said:

Rovshan Najaf, President of SOCAR, said:

The new offshore wind projects will contribute to Azerbaijan’s growing renewable energy portfolio and complement Masdar’s existing projects, which include Masdar’s landmark 230MW capacity Garadagh solar power plant, along with the 315MW Neftchala Solar Power Plant and 445MW Bilasuvar Solar Power Plant, both jointly developed with SOCAR Green; and ACWA Power’s 240MW Khizi-Absheron wind power plant.

These initiatives are designed to enhance energy security, create jobs and drive sustainable economic growth in Azerbaijan. This aligns with the consortium’s commitment to support Azerbaijan’s transition to net-zero emissions by 2050.

Established in 2024, SOCAR Green is a wholly-owned subsidiary of SOCAR, a global energy corporation headquartered in Azerbaijan. Positioned at the forefront of the nation's transition to renewable energy, SOCAR Green drives the implementation of clean energy initiatives, including large-scale solar, wind, and green hydrogen projects. Through strategic partnerships with international leaders in renewable energy, SOCAR Green supports Azerbaijan’s commitment to achieving its national climate targets and contributing to global sustainability goals.

ACWA Power entered the Azerbaijan market in 2019, with the intention of supporting the Central Asian nation in meeting its ambitious renewables integration, greenhouse gas (GHG) emissions reduction, and decarbonization targets and continues to expand its geographic footprint in the country with its 240MW Khizi-Absheron wind farm in advanced construction stage.

Since its establishment in 2006, Masdar has been a key enabler of the UAE’s vision as a global leader in sustainability and climate action. The company has developed and partnered in projects in over 40 countries, with a mandate to increase its renewable energy portfolio capacity to 100GW by 2030 and to become a leading producer of green hydrogen by the same year.

• Agreement witnessed by the Prime Minister of Albania, HE Edi Rama

• Joint venture term sheet to explore the deployment of GW-scale renewable energy projects in Albania for the supply of power to Albania and neighboring countries via cross-border interconnections

• Agreement will focus on solar, wind, and hybrid renewable projects with potential battery storage

Abu Dhabi Future Energy Company PJSC (Masdar) and Korporata Elektroenergjitike Shqiptare (KESH) – Albania Power Corporation - have signed a joint venture term sheet agreement to explore the development of gigawatt-scale renewable projects in Albania.

The signing ceremony took place in Baku, Azerbaijan on the sidelines of COP29, witnessed by the Prime Minister of Albania, HE Edi Rama, His Excellency Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, COP28 President and Chairman of Masdar, and Her Excellency Belinda Balluku, Deputy Prime Minister and Minister of Infrastructure and Energy for Albania. The agreement was signed by Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, and Erald Elezi, Chief Executive Officer of KESH.

The joint venture term sheet agreement aims to develop, construct, and operate renewable energy projects utilizing a range of renewable technologies, including solar PV, wind, and hybrid solutions, with potential integration of battery storage. The energy produced is expected to be supplied to the Albanian market and exported to neighboring countries.

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

Her Excellency Belinda Balluku, Deputy Prime Minister & Minister of infrastructure and Energy, commented:

The partnership aims to leverage KESH's position as Albania's leading energy producer and Masdar's global expertise in renewable energy development to accelerate Albania's clean energy transition. A landmark in the development of renewable energy capacity in Albania, the potential joint venture will benefit from Masdar's relationships with technology providers and financial institutions, as well as its operational expertise, while capitalizing on KESH's local market knowledge and existing infrastructure. Through this collaboration, Masdar and KESH are advancing Albania's decarbonization initiatives and contributing to the broader European energy market.

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

Erald Elezi, Chief Executive Officer of KESH, said:

The joint venture term sheet between Masdar and KESH is a crucial component of the broader strategic partnership between the UAE and Albania. It will play a vital role in increasing Albania's renewable energy capacity, meeting local demand while supporting its energy export capabilities to neighboring countries, and contributing to the region's energy security and sustainability goals.

Masdar has significantly strengthened its presence in Southeast Europe with its proposed acquisition of TERNA ENERGY, the largest developer and investor in renewable energy projects in Greece with a target capacity of 6GW by 2029. In addition, Masdar increased its investment in the Balkans with the recently announced financial close on the 154MW Čibuk 2 project in Serbia, adding to its existing 158MW Čibuk 1 wind farm and bringing its total capacity in the country to over 300MW.

• Joint Study Agreement with Ministry of Energy of Uzbekistan signed on sidelines of COP29 in Baku

• New 1GW wind farm in Mingbulak will create 1,000 jobs and deliver clean energy to 300,000 homes in the region

• Agreement marks first phase of broader strategy to develop 2GW of new wind projects in Uzbekistan

Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, and the Ministry of Energy Uzbekistan have signed an agreement to develop a 1-gigawatt (GW) wind farm in the Mingbulak region of the country.

This new wind farm will create 1,000 jobs during construction and 60 jobs during operation. Once completed, it will deliver clean energy to 300,000 homes in the region. The agreement further strengthens Masdar’s strategic partnership with Uzbekistan and marks the first phase of a broader strategy to establish three wind farms in the country.

The signing ceremony took place on the sidelines of COP29 in Baku, witnessed by H.E. Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar, and COP28 President, and H.E. Jurabek Mirzamakhmudov, Uzbekistan Minister of Energy. The agreement was signed by Jakhongir Obidjonov, Chairman of Uzenergosotish, and Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar.

In 2023 Masdar signed an Implementation Agreement to develop 2GW of new wind projects in Uzbekistan. In addition to the Mingbulak wind farm announced today, these will span two further sites including Akpetki in the country’s Karakalpakstan region and Buzaubay in its Navoiy region.

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

H.E. Suhail Mohamed Al Mazrouei, UAE Minister of Energy and Infrastructure, said:

H.E. Jurabek Mirzamakhmudov, Uzbekistan Minister of Energy, said:

“The Mingbulak Wind Power Plant marks a new phase in our partnership, offering us opportunities to enhance energy security, generate new jobs, and drive economic growth. We have strong confidence in Masdar’s projects in Uzbekistan and believe in their continued success.

“In alignment with the UAE’s “Triple Renewable Energy Capacity” initiative, we join the global movement to combat climate change. Uzbekistan, in turn, reaffirms its commitment to the goals of the Paris Agreement and aims to expand international cooperation in the renewable energy sector.”

Mohamed Jameel Al Ramahi, CEO of Masdar, said:

The new wind project will contribute to Uzbekistan's growing renewable energy portfolio and complement Masdar's existing projects in the country, which include six utility-scale solar power plants. These initiatives are designed to enhance energy security, create jobs, and drive sustainable economic growth in Uzbekistan, while significantly reducing greenhouse gas emissions. This aligns with Masdar’s commitment to support Uzbekistan’s goal of generating 40 percent of the country’s electricity from renewable sources by 2030.

Masdar has been an early mover in Uzbekistan’s renewable energy market, with landmark projects that include the 500MW Zarafshan Wind Farm, that will provide enough electricity to power more than 150,000 homes when fully operational. Masdar also developed the 100MW utility-scale Nur Navoi photovoltaic (PV) solar plant, which has been operational since 2021. These projects underscore Masdar’s commitment to delivering clean, affordable and reliable energy solutions to Uzbekistan.

Since its establishment in 2006, Masdar has been a key enabler of the UAE’s vision as a global leader in sustainability and climate action. The company has developed and partnered in projects in over 40 countries, with a mandate to increase its renewable energy portfolio capacity to 100GW by 2030 and to become a leading producer of green hydrogen by the same year.

• Project’s Investment Agreement signed on the sidelines of COP29 in Baku, Azerbaijan

• Located in the Jambyl region, wind farm is Masdar’s inaugural project in Kazakhstan and one of the largest in the CIS

• Masdar developing project with W Solar, Qazaq Green Power, and the Kazakhstan Investment Development Fund

Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, and its partners, have reached a significant milestone in the development of their 1GW windfarm in Kazakhstan, with the signing of the project’s Investment Agreement.

Signed on the sidelines of COP29 in Baku, the agreement was witnessed by H.E. Nurlan Baibazarov, Deputy Prime Minister – Minister of National Economy of the Republic of Kazakhstan, and Nurlan Zhakupov, Chairman of the Board of Samruk-Kazyna, and Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar. The agreement was signed by H.E. Almassadam Satkaliyev, Kazakhstan Minister of Energy, and Abdulla Zayed, Director of Business and Project Development of Masdar.

The wind farm is Masdar’s inaugural project in Kazakhstan, Central Asia's largest economy. It is located in the Jambyl region of the country and also features a 600-megawatt-hour (MWh) Battery Energy Storage System (BESS).

The 1GW wind project is being co-developed by W Solar, Qazaq Green Power (a Samruk-Kazyna Group company), and the Kazakhstan Investment Development Fund, with Masdar as the lead developer.

It represents a significant investment in the country’s potential as a major clean energy producer and is set to be one of the largest wind farms in the Commonwealth of Independent States (CIS) region.

Construction of the wind farm is expected to commence by Q1 2026. When completed, it will provide power to approximately 300,000 homes in the south of Kazakhstan, avoiding 2 million tonnes of CO2 emissions per year.

His Excellency Suhail Mohamed Al Mazrouei, UAE Minister of Energy and Infrastructure, said:

His Excellency Almassadam Satkaliyev, Minister of Energy of the Republic of Kazakhstan, said:

His Excellency Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, Chairman of Masdar, said:

Mohamed Jameel Al Ramahi, CEO of Masdar, said:

Aligned with the UAE’s support for Kazakhstan’s ambitious climate action plans, today’s announcement builds on a commitment the two governments made at COP28 to cooperatively develop Kazakhstan’s renewables sector.

The wind farm in the Jambyl region will help accelerate Kazakhstan’s energy transition, supporting the country’s ambitions to increase renewables capacity to 15 percent of its energy supply by 2030 (and to 50 percent by 2050) and achieve carbon neutrality by 2060.

Since its establishment in 2006, Masdar has been a key enabler of the UAE’s vision as a global leader in sustainability and climate action. The company has developed and partnered in projects in more than 40 countries, with a mandate to increase its renewable energy portfolio capacity to 100GW by 2030 and to become a leading producer of green hydrogen by the same year.

• Project supports Malaysia's goal of achieving 31 percent renewable energy by 2025

• Floating solar plant would be Masdar’s second in Southeast Asia region after 145MW plant in Cirata, Indonesia

Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, has signed a Joint Study Agreement with Malaysia’s Sarawak Energy and clean energy solutions provider, Gentari, to assess the feasibility of a floating solar power plant at the reservoir of Murum Hydroelectric Plant in the state of Sarawak, Malaysia.

The large-scale floating solar PV project marks a significant step towards expanding renewable energy capacity in Sarawak state and supporting Malaysia's clean energy ambitions. The exchange of documents was held at Masdar’s head office in Abu Dhabi between Mohamed Jameel Al Ramahi, Masdar Chief Executive Officer, Datuk Sharbini Suhaili, Sarawak Energy Group Chief Executive Officer and Sushil Purohit, Gentari Chief Executive Officer. The ceremony was witnessed by the Right Honorable Datuk Patinggi Tan Sri (Dr) Abang Haji Abdul Rahman Zohari Tun Abang Haji Openg, Premier of Sarawak, and the Right Honorable Dato' Sri Haji Fadillah Bin Haji Yusof, Deputy Prime Minister of Malaysia.

Floating solar projects offer several advantages for countries like Malaysia with growing populations and a scarcity of land that is required for agriculture, housing and industry. Placing solar plants on water reduces land use, decreases water evaporation, and offers potential synergies with hydroelectric operations.

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

Sarawak Energy Group Chief Executive Officer, Datuk Sharbini Suhaili, commented:

Sushil Purohit, Gentari Chief Executive Officer, said:

The feasibility study aims to assess the potential for a large-scale floating solar installation on the Murum reservoir. This evaluation will encompass technical feasibility, environmental impact, and economic viability to determine if the project can be successfully implemented. If deemed viable, this floating solar installation could not only strengthen Sarawak's renewable energy capacity but also position it as a pioneering model for floating solar projects across the region. It also supports Sarawak's ambition to become a leader in clean energy development and export in Southeast Asia.

During their visit to the UAE, the Sarawak delegation, led by the Right Honorable Datuk Patinggi Tan Sri (Dr) Abang Haji Abdul Rahman Zohari Tun Abang Haji Openg, Premier of Sarawak, participated in a series of high-level meetings and events. The delegation attended a panel discussion on Asia's role in defining the hydrogen market. They also visited the Mubadala Energy Exhibition Stand at ADIPEC, toured the Taweelah Receiving Facility of Dolphin Energy, and visited Masdar City.

• Strategic collaboration agreement to evaluate powering Microsoft’s data centers with renewable energy and using AI to advance decarbonization projects

• Collaboration will explore opportunities to accelerate AI deployment across ADNOC’s operations to enhance efficiencies and minimize emissions

• Agreement builds on recent co-authored report – “Powering Possible” that highlights how AI is critical for accelerating the energy transformation

ADNOC and Abu Dhabi Future Energy Company (Masdar) announced today the signing of a Strategic Collaboration Agreement (SCA) with Microsoft on a range of artificial intelligence (AI) and low-carbon initiatives in the UAE and globally aimed at decarbonizing the energy system of today and enabling a sustainable energy system for the future. The announcement was made at ADIPEC which is currently taking place in Abu Dhabi.

As part of the SCA, the companies will evaluate opportunities to power Microsoft’s data centers with renewable energy through Masdar, which ADNOC is a shareholder in. They will also explore opportunities to use AI to advance carbon capture and storage projects as well as low-carbon ammonia and hydrogen projects.

Furthermore, the SCA will explore opportunities to accelerate AI deployment across ADNOC’s operations to enhance efficiencies, drive methane reduction initiatives aligned to the Oil & Gas Decarbonization Charter to achieve near zero methane by 2030, minimize emissions and strengthen biodiversity monitoring to better protect the environment.

His Excellency Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, ADNOC Managing Director and Group CEO, and Chairman of Masdar, said:

The agreement follows the release of the Powering Possible: AI and Energy for a Sustainable Future report, co-authored by ADNOC, Masdar, and Microsoft. This report and the ENACT Majlis, a CEO gathering of over 70 world leaders in technology, energy and investment held on the eve of ADIPEC, call for greater collaboration between the technology and energy sectors to harness the power of AI to accelerate the energy transition.

Brad Smith, Vice Chair and President, Microsoft said:

Mohamed Jameel Al Ramahi, CEO of Masdar, said:

AI solutions are enabling ADNOC’s Net Zero by 2045 ambition and its target to achieve near-zero methane emissions by 2030. Between 2022 and 2023, the company’s AI tools abated 1 million tonnes of carbon dioxide (CO2) and generated $500 million (AED1.84 billion) in value in 2023.

• Report highlights how AI is critical for accelerating the net-zero energy transformation by boosting efficiencies, decarbonizing existing systems, and expanding carbon-free energy sources

• Report draws on insights from over 400 thought leaders in technology, energy and finance, including Jensen Huang, CEO of NVIDIA, Larry Fink, CEO of BlackRock and Patrick Pouyanné, CEO of TotalEnergies

• Jointly authored report calls for energy sector to accelerate investment in AI to drive decarbonization while securely responding to growing global electricity demand

ADNOC, Masdar and Microsoft have jointly published a new report titled “Powering Possible: AI and Energy for a Sustainable Future” exploring the transformative potential of artificial intelligence (AI) in driving the global energy sector towards a net zero future. The report highlights AI’s potential to optimize energy efficiency, manage complex energy systems, reduce greenhouse gas emissions, and innovate carbon-free energy solutions while addressing the growing energy demands of AI technology itself.

To create the report, the authors surveyed more than 400 experts across the fields of energy, technology and AI, academia and finance, including His Excellency Omar Al Alama, UAE Minister of State for Artificial Intelligence; Jensen Huang, CEO of NVIDIA; Larry Fink, CEO of BlackRock; Professor Anima Anadkumar of Caltech; and Patrick Pouyanné, CEO of TotalEnergies. The survey revealed that 92% of energy executives believe AI will have a significant impact on improving energy efficiency by 2030, and that by 2050, 97% expect AI to play a central role in developing new energy solutions. These findings emphasize AI’s potential to decarbonize traditional energy sources, drive efficiency gains and accelerate the energy transition.

The report has been published in advance of the ENACT Majlis, convened by H.E. Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology, Chairman of Masdar, and ADNOC Managing Director and Group CEO. The ENACT Majlis is a CEO gathering of 60 world leaders in technology, energy and finance to seize the opportunities and find the solutions that embrace rapid and sustainable AI growth, to be held in Abu Dhabi on November 3.

His Excellency Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, Chairman of Masdar and ADNOC Managing Director and Group CEO, said:

The report highlights AI’s capacity to reduce methane emissions – a greenhouse gas that is 80 times more effective at trapping heat than carbon dioxide (CO2). Advanced AI tools being developed are anticipated to detect methane leaks with up to 20% greater accuracy compared to legacy technologies. These innovations are expected to play a vital role in helping the energy sector achieve the Global Methane Pledge, which aims for a 30% reduction in methane emissions by 2030.

Brad Smith, Vice Chair and President, Microsoft said:

The report also provides a roadmap to address AI-driven data centers’ rising energy demands, which are projected to nearly double their share of global electricity demand by 2026. The report highlights that while at a global scale AI’s electricity consumption is relatively small, in some regions, electricity demand for data centers can be a large percentage of total load. For example, according to the IEA, in the European Union, where data center electricity demand is expected to increase at ~9% per year, demand could exceed 5% of the total regional load by 2026. Building on the significant progress already underway to bring more carbon-free energy online, the collaboration between the technology and energy sectors is crucial to ensuring that growing electricity demand is met through sustainable and carbon-free energy solutions. Masdar, the UAE’s clean energy champion, highlights within the report the opportunity for AI to transform the global clean energy industry, as the data centers the industry requires will serve as an increasingly important driver of global energy demand, adding that to meet this demand sustainably will require a multifaceted approach to unleash the full potential of AI.

To view the full report, please visit: https://masdar.ae/en/thought-leader-reports/industry-reports/adnoc-masdar-and-microsoft-release-powering-possible-ai-and-energy-for-a-sustainable-future