Abu Dhabi Future Energy Company PJSC – Masdar is marking 20 years of leadership in renewable energy. Two decades ago, when renewable energy was nascent and unproven at scale, the UAE made a defining choice: to make an investment in the future of power that defied the sceptics. That choice was Masdar.
23 APR 2026
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Founded in 2006 by His Highness Sheikh Mohamed bin Zayed Al Nahyan, Masdar was a bold bet on renewables when the world still doubted them.
Since its launch, Masdar has helped transform renewables into the world's most cost-competitive, rapidly deployable power source
Today, Masdar is one of the world's largest clean energy developers, with 65+ gigawatts of portfolio capacity and a clear path to 100GW by 2030
Now pioneering the next frontier: round-the-clock gigascale renewable power in Abu Dhabi, a blueprint for the intelligence age, ready to scale globally
Abu Dhabi Future Energy Company PJSC – Masdar is marking 20 years of leadership in renewable energy. Two decades ago, when renewable energy was nascent and unproven at scale, the UAE made a defining choice: to make an investment in the future of power that defied the sceptics. That choice was Masdar.
Founded by His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, on April 23, 2006, through Mubadala Investment Company (Mubadala), Masdar was built with a clear mandate: diversify the UAE's economy and accelerate the global deployment of renewable energy. Two decades on, Masdar is one of the world's largest renewable energy developers and operators, with a portfolio capacity exceeding 65 gigawatts (GW) and an ambitious target of 100GW by 2030.
Masdar didn't ride the clean energy wave. We helped create it.
His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Masdar's founding CEO, said:
In 2006, investing in renewable energy wasn't the obvious call. It was the courageous one. Technologies were nascent. Scale was unproven. The economics hadn't yet turned. His Highness Sheikh Mohamed bin Zayed Al Nahyan saw not what renewables were, but what they could become. That distinction between what exists and what is possible is the difference between following a trend and setting one.
Driven by His Highness' long-term vision and unwavering commitment, Masdar didn't ride the clean energy wave. We helped create it.
“Anticipating the rise in clean power demand”
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said:
Masdar’s rise over the past 20 years has been driven by the UAE’s ambition and foresight, anticipating the rise in clean power demand and looking to diversify its economy early. Through partnership, innovation, and investment we have grown into a global business, driving the development and deployment of clean energy solutions worldwide. Today, with global electricity demand growing at pace, Masdar stands at the center of a thriving international industry, delivering affordable, secure power to our partners around the world.
From a solar plant in Masdar City to the world's largest projects
Masdar's journey began with a single grid-connected solar plant in Masdar City in 2009. It has since delivered some of the most ambitious renewable energy projects ever built, including the 2GW Al Dhafra solar plant, the world's largest single-site solar facility upon its 2023 completion, powering around 200,000 UAE homes.
Global footprint, built on UAE ambition
From a handful of employees in 2006, Masdar now employs over 1,100 people across 12 countries. Its portfolio spans continents and technologies: the world's first floating offshore wind farm (30MW, Hywind Scotland), Southeast Asia's largest floating solar project (145MW Cirata, Indonesia), and Central Asia's largest wind farm (500MW Zarafshan, Uzbekistan).
In 2022, Masdar entered its new ownership structure with Abu Dhabi National Energy Company (TAQA), Mubadala and Abu Dhabi National Oil Company (ADNOC) becoming joint shareholders, committed to accelerating Masdar’s growth.
Recent acquisitions — Saeta Yield in Spain, a 50 percent stake in Terra-Gen in the United States, and TERNA ENERGY in Greece — have further cemented Masdar's position as a truly global clean energy powerhouse.
Redefining renewables for the Intelligence Age
Now, Masdar is redefining the role of renewables. Alongside Emirates Water and Electricity Company (EWEC), it is developing the world's first gigascale integrated renewable energy project in Abu Dhabi: a 5.2GW solar plant paired with a 19 gigawatt-hour (GWh) battery system, delivering 1GW of uninterrupted baseload power. This is not just another project. It is a blueprint for the world, one Masdar is already exploring with global partners.
The next chapter: 100 GW by 2030
Masdar is continuing to look to drive global expansion and advance energy transformation worldwide. This month, Masdar signed a binding agreement with France’s TotalEnergies to establish a US$2.2 billion 50/50 joint venture (JV) that will merge their onshore renewable activities in nine countries across Asia.
To fuel its next phase of growth, Masdar will deploy US$30–35 billion in equity and project finance to reach 100 GW by 2030, adding an average of 10GW of new capacity every year.
Abu Dhabi Future Energy Company PJSC – Masdar today announced it has issued another US$1 billion green bond, bringing the total outstanding under its green bond program to US$2.75 billion, and reinforcing the company’s global leadership position in sustainable finance.
16 MAY 2025
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Proceeds from third green bond issuance will be invested exclusively in greenfield renewable energy projects under Masdar’s Green Finance Framework
Bond demand led to 6.6x oversubscription, reflecting significant investor confidence in Masdar’s financial resilience and strategic direction
Issuance brings total amount raised since company began green bond program in 2023 to US$2.75 billion
Abu Dhabi Future Energy Company PJSC – Masdar today announced it has issued another US$1 billion green bond, bringing the total outstanding under its green bond program to US$2.75 billion, and reinforcing the company’s global leadership position in sustainable finance.
The bond was issued in two equal tranches of US$500 million, with tenors of 5 and 10 years and coupons of 4.875% and 5.375% respectively. The bond attracted significant oversubscription with a peak orderbook of US$6.6 billion, with strong demand from both regional and international investors, including dedicated green funds. Spreads over US Treasuries landed at 80bps for the 5-year tranch and 90bps for the 10-year, representing the tightest pricing achieved on Masdar’s issuances to date. Allocation was finalized with a split of 85 percent to international investors and 15 percent to MENA investors.
Masdar is widely recognized as a global leader in sustainable finance, with successive green bonds of US$750 million and US$1 billion in 2023 and 2024, which have been fully allocated to new greenfield projects in developed and developing economies. The company’s green bond program is complemented by its other financing activities, which in 2024 included the issuance of US$6 billion of non-recourse financing for the development of more than 11 gigawatts (GW) of clean energy capacity across 12 new projects in nine countries.
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said:
This third issuance demonstrates the continued and growing confidence the investment community places in Masdar’s financial strength and long-term vision. The funds raised will be critical in Masdar achieving its portfolio capacity targets and will enable us to support energy transformation across the globe, especially in emerging markets and developing economies, which are often in most urgent need of investment. All proceeds from our bond program are allocated exclusively to the development of new ‘dark green’ renewable energy projects, giving investors complete confidence as to how their money is being spent.
Mazin Khan, Chief Financial Officer of Masdar, said:
This latest green bond issuance, aligned with Masdar’s Green Finance Framework, underscores the overwhelming investor confidence in our financial resilience and strategic direction. As we look to deliver the equitable energy system of tomorrow, Masdar is raising sustainable finance on an industrial scale to support the development of new clean energy projects, both at home and internationally, giving investors the opportunity to play their part in the green financing agenda.
Masdar updated its Green Finance Framework in March this year, with the eligibility criteria expanded to include green hydrogen and standalone battery storage projects. Moody’s reaffirmed its Sustainability Quality Score of SQS1 (Excellent), the highest possible rating, for the updated framework in April.
In line with Masdar’s corporate credit ratings, the company’s third bond issuance was rated AA- by Fitch and A1 by Moody’s. The joint lead managers and bookrunners on the issuance were First Abu Dhabi Bank, Abu Dhabi Commercial Bank, J.P. Morgan, ING, Intesa Sanpaolo, Bank of China, DBS Bank, BNP Paribas and Crédit Agricole.
Masdar City, a leading hub for innovation and sustainability in Abu Dhabi, is proud to announce that Masdar (Abu Dhabi Future Energy Company), the UAE’s clean energy leader, will establish its new global headquarters at The Link, an innovative, 30,000-square-meter development that seamlessly integrates living and working spaces with advanced technological infrastructure. The agreement underscores the continued synergy between the two entities and reinforces Masdar City's position as a leading hub for sustainable business and innovation.
15 JAN 2025
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Masdar City formalized the agreement with Masdar during Abu Dhabi Sustainability Week
The Link is a key component of Masdar City’s ‘green-print’ for sustainable urban development, and its components comply with comprehensive sustainability criteria
The development incorporates innovative design features to minimize its environmental footprint, and is being constructed to LEED Platinum, WELL Gold, 4 Pearl PBRS Estidama and LEED SmartPark Silver standards
Masdar City, a leading hub for innovation and sustainability in Abu Dhabi, is proud to announce that Masdar (Abu Dhabi Future Energy Company), the UAE’s clean energy leader, will establish its new global headquarters at The Link, an innovative, 30,000-square-meter development that seamlessly integrates living and working spaces with advanced technological infrastructure. The agreement underscores the continued synergy between the two entities and reinforces Masdar City's position as a leading hub for sustainable business and innovation.
The announcement was formalized through an agreement signed during the Abu Dhabi Sustainability Week (ADSW), which brings together global leaders in Abu Dhabi to accelerate sustainable development and advance socioeconomic progress.
The Link is a key component of Masdar City’s ‘green-print’ for sustainable urban development, and its components comply with comprehensive sustainability criteria. Scheduled for completion in 2025, the mixed-use development comprises five commercial and residential buildings including the first net-zero energy shared working and living facilities under one roof in the Middle East and North Africa region.
Mohamed Al Breiki, Executive Director Sustainable Development of Masdar City, said:
Masdar's move to establish its headquarters at The Link is a strong endorsement of Masdar City's value proposition for businesses seeking a sustainable and innovative environment. The relocation reinforces the shared commitment of the two entities to driving sustainable development in the UAE and globally.
Tareq Al Qubali, Executive Director, People and Corporate Services of Masdar, said:
The establishment of Masdar’s global headquarters at The Link represents a significant milestone in our journey. By relocating to this state-of-the-art, net-zero energy development, we are not only reaffirming our commitment to innovation and sustainability but also demonstrating the synergy between our vision and the values that Masdar City embodies. This move will serve as a foundation for us to continue driving impactful change locally, regionally, and globally.
Designed as a central node connecting various modes of transport and all areas of Masdar City, The Link fosters a unique community by integrating offices, residential areas, co-working spaces, a visitor center, and a multi-use hall to create a diverse and active community for all demographics. The development incorporates innovative design features to minimize its environmental footprint, and is being constructed to LEED Platinum, WELL Gold, 4 Pearl PBRS Estidama and LEED SmartPark Silver standards.
Abu Dhabi Future Energy Company PJSC - Masdar, one of the world’s leading renewable energy companies, and Hy24, the world’s largest clean hydrogen pure-play investor, signed a strategic joint development and investment framework agreement to foster large-scale green hydrogen projects during the UN’s Climate Change Conference, COP28, in Dubai.
14 DEC 2023
Strategic Framework Agreement will position Masdar as potential investor and developer for co-investment opportunities alongside Hy24’s Clean Hydrogen Infrastructure Fund to enable large-scale green hydrogen production projects across Europe, the Americas, Asia Pacific and the Middle East and North Africa
The agreement advances ambitious growth plans of UAE’s clean energy powerhouse, giving Masdar access to a pipeline of up to €2 billion in co-investment and co-development opportunities. Masdar, is targeting 1 million tons of green hydrogen production by 2030
The agreement will broaden Hy24’s investment base and role as a springboard for hydrogen projects at scale
Abu Dhabi Future Energy Company PJSC - Masdar, one of the world’s leading renewable energy companies, and Hy24, the world’s largest clean hydrogen pure-play investor, signed a strategic joint development and investment framework agreement to foster large-scale green hydrogen projects during the UN’s Climate Change Conference, COP28, in Dubai.
Masdar and Hy24 agreed a framework to explore the development and investment in projects along the Power-to-X value chain, which involves producing renewable power converted via electrolyzers into green hydrogen and, subsequently, its derivatives such as green ammonia, e-methanol, sustainable aviation fuel and liquid hydrogen. The companies will focus on projects located in key regional hubs across Europe, the Americas, Asia Pacific and the Middle East and North Africa (MENA).
The Hy24-managed “Clean Hydrogen Infrastructure Fund” expects that co-investment and co-development opportunities will be made available to Masdar, which could represent up to €2 billion of investments in the next five years. Green hydrogen will play a key role in enabling faster and more widespread global adoption of renewable energy, helping the planet to meet net-zero goals.
The agreement reinforces Hy24's role as a catalyst in fostering the hydrogen economy and will leverage Masdar’s 20GW of renewable energy projects worldwide, enabling the two leaders to target exploration of larger transactions and project developments across broader geographies at scale and pace. The agreement will also open new investment opportunities for Hy24 in the Middle East and North Africa and benefit from Ardian’s long-standing partnerships established in the region under the leadership of François-Aïssa Touazi (Chairman Ardian Ltd, Abu Dhabi). Hy24 is a joint venture between Ardian, Europe’s largest private investment house, and FiveT Hydrogen, a clean hydrogen investment platform.
Mohamed Jameel Al Ramahi, CEO of Masdar, said:
At COP28, we have seen the critical need for global stakeholders to unite, act and deliver. Masdar’s collaboration with Hy24, the world’s largest clean hydrogen pure-play investor, will see us leverage our shared expertise and resources. Throughout our 17-year history, Masdar has deployed a ‘first mover’ approach to the clean energy transition worldwide. Now, Masdar and Hy24 will work together to maximize green hydrogen’s huge potential to accelerate the energy transition for a cleaner, greener future.
Pierre-Etienne Franc, Co-founder and CEO of Hy24, said:
Hydrogen is unanimously recognized as one of the most promising tools for the energy transition, a view that has been reinforced at COP28. Our joint agreement aims to unlock investments for some of the largest and most strategic green hydrogen projects in the world. It also demonstrates the strong potential for both France and the UAE to develop large-scale decarbonization projects together within this industry vertical. We need to see more capital allocated by institutional investors and sovereign wealth funds to climate action. Masdar is paving the way.
Established in 2006, Masdar has developed projects in over 40 countries, helping them to achieve their clean energy objectives and advance sustainable development. It has invested, or committed to invest, in worldwide projects with a combined value of more than US$30 billion with ambitious growth plans to reach 100GW and 1 million tons of green hydrogen by 2030.
Hy24 is committed to catalyzing the growth of a global hydrogen ecosystem by investing across the entire clean hydrogen value chain. Hy24’s first fund – the Clean Hydrogen Infrastructure Fund, or “Infra Fund” – is targeted at building out the hydrogen infrastructure market. The Infra Fund has raised 2 billion euros and already made seven investments. It has brought together more than fifty leading industrial and financial investors from Europe, Asia, and North America with the aim of mobilizing up to 20 billion euros of investment within the next five years. In May 2023, Hy24 co-organized with Ardian the first hydrogen business conference in MENA, in partnership with Abu Dhabi Global Market.
AD Ports Group (ADX: ADPORTS), a leading facilitator of global trade, logistics, and industry, and Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, have announced the signing of a Memorandum of Understanding (MoU) on the sidelines of the UN Climate Change Conference, COP28, in Dubai.
12 DEC 2023
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AD Ports Group (ADX: ADPORTS), a leading facilitator of global trade, logistics, and industry, and Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, have announced the signing of a Memorandum of Understanding (MoU) on the sidelines of the UN Climate Change Conference, COP28, in Dubai.
Under the terms of the MoU, AD Ports Group and Masdar will jointly explore the development of a green hydrogen production hub within the Khalifa Economic Zones Abu Dhabi (KEZAD) that will serve both domestic and export markets, part of the UAE’s National Hydrogen Strategy that aims to scale up local hydrogen production to 1.4 million tons per annum by 2031, and 15 million tons per annum by 2050. In support of this strategy, Masdar is targeting an annual global green hydrogen production capacity of up to 1 million tons by 2030 and has signed and executed several global collaboration agreements to meet this goal.
Hydrogen could help to reduce global emissions by more than 20 percent by 2050 with demand rapidly increasing in recent years.
This hydrogen production hub could include export terminals of green products to overseas ports, which would attract more investments into the green hydrogen value chain in Abu Dhabi, as well as offer current and future KEZAD and Khalifa Port tenants the opportunity to develop green industries.
Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said:
The signing of this MoU with Masdar is a monumental step for AD Ports Group. It aligns perfectly with our green H2 valley strategy, amplifying our efforts to create a robust UAE H2 platform for developing green and blue hydrogen projects both domestically and globally. Furthermore, the MoU not only exemplifies our shared ambition with Masdar to establish Abu Dhabi as a vital international hub for the production and export of hydrogen and its derivatives but also echoes our wise leadership’s vision to diversify the UAE’s economy and bolster our global competitiveness, especially within markets that increasingly prioritise environmentally friendly and sustainable practices.
Mohamed Jameel Al Ramahi CEO of Masdar, said:
As a global clean energy pioneer with nearly two decades of experience in renewables, Masdar adopts a smart ‘first-mover’ approach, entering markets at an early stage and building scalable platforms. This exciting collaboration with AD Ports Group exemplifies all of those principles. Green hydrogen has enormous potential to decarbonize hard-to-abate sectors and accelerate the journey to net zero. Given more than 80 percent of global trade is transported by sea, partnerships like this are vital to ensure integrated green hydrogen value chains. Working with AD Ports Group, we’ll explore measures to further decarbonize hard-to-abate sectors by encouraging the use of green hydrogen in port operations and as vessel fuels, while facilitating the import and export of hydrogen.
Masdar, one of the world’s fastest growing clean energy companies, has signed a non-binding Heads of Terms (HoT) development agreement with OMV, the integrated company for energy, fuels & feedstock, chemicals and materials, to explore in partnership the production of green hydrogen for the decarbonization of industrial processes in OMV’s refineries.
08 DEC 2023
Masdar, one of the world’s fastest growing clean energy companies, has signed a non-binding Heads of Terms (HoT) development agreement with OMV, the integrated company for energy, fuels & feedstock, chemicals and materials, to explore in partnership the production of green hydrogen for the decarbonization of industrial processes in OMV’s refineries.
The non-binding HoT forms the basis of a joint agreement to develop an industrial large scale electrolysis plant, which will be powered by renewable energy. The partners will collaborate to develop the project and plan to make a final investment decision in the second half of 2024.
The Heads of Terms development agreement was signed at the UN climate change conference, COP28, in Dubai and follows an initial Memorandum of Understanding (MoU) that was signed between the two parties in Abu Dhabi earlier this year.
This cooperation agreement with OMV is another step in the right direction towards building a robust hydrogen value chain and supports our ongoing aim of 1 million tonnes of green hydrogen per annum globally by 2030.
said Mohammad Abdelqader El Ramahi, Masdar’s Chief Green Hydrogen Officer.
Masdar has been a pioneer in exploring hydrogen production since 2008 and is developing and investing in strategic projects and building scalable platforms in key markets around the world.
In line with national and international climate goals, OMV has set itself the goal of becoming climate neutral by 2050 in its strategy. A central pillar in achieving this goal is the use and production of green hydrogen via electrolysis from renewable electricity for use in its refineries.
Bahrain Mumtalakat Holding Company (“Mumtalakat”), the sovereign wealth fund of the Kingdom of Bahrain and Abu Dhabi Future Energy Company PJSC – Masdar, one of the world’s leading renewable energy companies, announced today the signing of a Memorandum of Understanding (MoU) aimed at exploring collaboration opportunities in the development of clean and renewable energy projects in the Kingdom of Bahrain.
07 DEC 2023
Manama, Kingdom of Bahrain: Bahrain Mumtalakat Holding Company (“Mumtalakat”), the sovereign wealth fund of the Kingdom of Bahrain and Abu Dhabi Future Energy Company PJSC – Masdar, one of the world’s leading renewable energy companies, announced today the signing of a Memorandum of Understanding (MoU) aimed at exploring collaboration opportunities in the development of clean and renewable energy projects in the Kingdom of Bahrain.
Under the terms of this MoU, Mumtalakat and Masdar will collaborate to develop a pipeline of renewable energy projects, supply cost competitive green energy to Bahrain, build local capabilities and foster innovation in Bahrain by utilising their complementary expertise and know-how. In addition, they will explore co-investment opportunities in other markets of common interest.
Commenting on the announcement, His Excellency Shaikh Abdulla bin Khalifa Al Khalifa, Chief Executive Officer of Mumtalakat, said:
We are pleased to embark on this exciting journey with our counterparts at Masdar to explore investment prospects in the clean energy sector, as we believe that environmental preservation and economic growth go hand in hand.
We firmly believe that through strategic partnerships with industry leaders and investing in sustainable technologies, we can contribute towards creating a lasting positive sustainable impact for future generations, H.E. added.
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said:
Masdar is delighted to be partnering with Mumtalakat to drive clean energy initiatives in the Kingdom of Bahrain. At COP28, we have seen the powerful role of collaboration and shared expertise in driving positive solutions and Masdar in turn looks forward to working with our strategic partners in Bahrain to explore the development of renewable energy projects in support of the Kingdom’s sustainability goals.
This MOU serves as a key milestone in the collaborative efforts of Mumtalakat and Masdar in promoting sustainable development for a greener future. This MoU has the potential to support the creation of high skilled job opportunities in Bahrain by training and enabling local talent to actively engage in the clean energy industry. This aligns with the afforestation plan of the Kingdom of Bahrain, which aims to double tree planting by 2035 and achieve "zero neutrality" in carbon emissions by 2060.
Abu Dhabi Future Energy Company PJSC – Masdar, one of the world’s leading renewable energy companies, and VERBUND Green Hydrogen GmbH have signed a deal to explore developing a green hydrogen plant in central Spain with a view to decarbonizing Europe’s hard-to-abate sectors.
07 DEC 2023
Masdar, the UAE’s flagship renewable energy company, and VERBUND Green Hydrogen GmbH, part of VERBUND group, Austria's leading energy company, sign agreement at COP28 to explore feasibility of large-scale electrolysis in central Spain.
Agreement creates a 50:50 partnership for a joint study to explore the development of green hydrogen, while consolidating Masdar’s and VERBUND's strong commitment in Spain and Europe
Potential green hydrogen produced could be used to decarbonize hard-to-abate industries in Spain and central Europe to meet net-zero goals.
Abu Dhabi Future Energy Company PJSC – Masdar, one of the world’s leading renewable energy companies, and VERBUND Green Hydrogen GmbH have signed a deal to explore developing a green hydrogen plant in central Spain with a view to decarbonizing Europe’s hard-to-abate sectors.
As world leaders negotiate at the UN’s Climate Change Conference COP28 in the UAE, clean energy pioneers Masdar and VERBUND Green Hydrogen GmbH moved forward with plans to analyze the feasibility of building one of Europe’s largest green hydrogen production plants in central Spain. Harnessing the abundant renewable resources of Castilla-La Mancha region, the prospective plant will aim to generate green hydrogen to cover industrial demand in Spain and central Europe. The study will evaluate if green hydrogen produced at the plant has the potential to displace up to 1 million tonnes of carbon emissions annually, equivalent of removing around 700,000 cars from the road every year.
The agreement was signed by Mohammad Abdelqader El Ramahi, Masdar’s Chief Green Hydrogen Officer and Hamead Ahrary, Managing Director of VERBUND Green Hydrogen GmbH during COP28 in Expo City Dubai. It cements an earlier pact, signed between the companies during Abu Dhabi Sustainability Week in January 2023, to explore green hydrogen opportunities to cover European demand.
Green hydrogen is produced using electricity from renewable sources whereby the water is separated into oxygen and hydrogen, via the process of electrolysis. It is intended that the explored plant will produce green hydrogen using renewable energy generated by solar power plants, potentially including Masdar’s planned gigawatt-scale solar plant in Castilla-La Mancha, and onshore wind farms. The project is expected to stimulate job creation and boost green industry in the sparsely populated area.
Mohammad Abdelqader El Ramahi, Masdar’s Chief Green Hydrogen Officer, said:
Masdar is delighted to be moving forward on this milestone project with our strategic partner, VERBUND Green Hydrogen GmbH. As one of Europe’s largest planned green hydrogen production plants, the project aims to produce green hydrogen to help decarbonize the continent’s hard-to-abate industries while creating jobs and tapping into the region’s enormous solar and wind potential. Our successful collaboration on this project paves the way for further development of green hydrogen and a vital pipeline linking centers of production with end-use markets. At COP28, as the world looks for ways to accelerate the journey to net zero, partnerships such as this serve as a powerful example of what can be achieved if we work together with purpose and at pace.
There is huge growth potential for green hydrogen in Europe. Spain currently consumes around 500,000 tonnes of mainly traditional fuel derived ‘gray’ hydrogen per year, which could be gradually replaced with green hydrogen. By 2035, Austria alone is expected to require around 600,000 tonnes per year of clean hydrogen.
Michael Strugl, Chief Executive Officer of VERBUND, emphasized the innovation and technology leadership in the ramp-up of the hydrogen economy in Europe with this project:
We are very pleased that, within our cooperation with Masdar we can take the next step in the form of a Joint Study Agreement (JSA). The goal is to identify the subsequent way-forward towards large-scale hydrogen production in Spain. Partnerships like this are essential to jointly ramp-up the European hydrogen market to meet decarbonization goals.
Hamead Ahrary, Managing Director of VERBUND Green Hydrogen GmbH added:
The Spanish market plays a vital role for us, both for the development of local H2 production, as well as for future potential import to central Europe. The joint study will generate valuable insights for the feasibility and execution of a potential project, which would result in the further strengthened positioning of VERBUND in the Spanish market. Hence, we are looking forward to the results of this study.
The planned green hydrogen produced is expected to be used to decarbonize Spain or Europe’s hard-to-abate sectors, which could include steel production, fertilizers, chemicals, heavy transportation, and aviation. Currently, steelmaking alone is responsible for 5 percent of European carbon emissions. With most European Union nations pledging to become carbon neutral by 2050, green hydrogen presents a powerful vehicle for achieving that aim.
Expected to be operational by the end of the decade, the planned green hydrogen plant will serve the industrial sector and has the potential to help decarbonize heavy transportation in Spain as well as in central Europe.
Abu Dhabi Future Energy Company PJSC – Masdar advances 10GW growth plan across six Sub-Saharan nations, marking accelerated expansion for the UAE’s clean energy leader, in support of the clean energy transition across the continent.
07 DEC 2023
Projects span Angola, Uganda, the Republic of Congo, Kenya, Mozambique and Zambia
Marks advancement of Masdar 10 gigawatt (GW) growth plan to unlock Africa clean energy potential
Abu Dhabi Future Energy Company PJSC – Masdar advances 10GW growth plan across six Sub-Saharan nations, marking accelerated expansion for the UAE’s clean energy leader, in support of the clean energy transition across the continent.
The announcements were made during the United Nations Climate Change Summit (COP28) taking place in the UAE and will support the recently launched Africa Green Industrialization Initiative to scale up green industries in the region.
According to research launched last year by Masdar, Abu Dhabi Sustainability Week and McKinsey & Company, Africa has a theoretical potential clean energy capacity of 850 terawatts in solar and wind alone and could capture as much as 10% of the global green hydrogen market. These agreements support the development of clean energy portfolios across several markets in Africa, helping to unlock that potential and deliver improved levels of energy security to its population.
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said:
Masdar’s growth plans will help unlock Africa’s clean energy potential and further advance its energy transition. This follows Masdar’s landmark commitment to mobilize US$10 billion in finance and 10GW of capacity for clean energy in Africa by the year 2030. As the largest pure-play renewable energy company on the continent, we are proud of our long-term partnerships, and we look forward to developing an important pipeline of clean energy projects, working for Africa, with Africa.”
At COP28, Masdar announced partnership agreements with both governments and private entities in six African countries:
Angola – Masdar and the Republic of Angola’s Ministry of Energy and Water signed a Concession Agreement for the first 150MWac solar PV project in Quipungo under Phase I of the 2GW renewable energy collaboration between the governments of the UAE and the Republic of Angola – the first renewable energy project under the strategic G2G collaboration between the two countries.
Uganda – The Prime Minister of Uganda, Her Excellency Robinah Nabbanja, announced at COP28 that Masdar and Uganda’s Ministry of Energy and Mineral Development had signed a Roadmap Agreement for the implementation of a 150MW Solar PV project under Phase I of a 1GW collaboration between the two nations.
The Republic of Congo – MW Energy, a Masdar subsidiary, Africa50 and the Ministry of Energy & Hydraulics of the Republic of Congo signed a Memorandum of Understanding (MoU) to develop 500MW of renewable energy capacity in the country.
Kenya – During the Green Industrialization Initiative convened at COP28, Kenya President William Ruto announced that Geothermal Development Company of Kenya and Pertamina Geothermal Energy (PGE) of Indonesia, are to collaborate on geothermal energy development in Kenya - Masdar is proud to support the expansion of geothermal energy capacity in the East African nation through its investment in PGE.
Mozambique – Infinity Power, a Masdar Infinity company, the largest pure-play renewable energy company in Africa, has announced the signing of a Memorandum of Understanding (MoU) with Mozambique's Ministry of Energy and Mineral Resources. This agreement aims to explore potential opportunities for up to 1GW of renewable projects in Mozambique. The projects initiated through this cooperation have the potential to provide Mozambique with enough energy to power 400,000 households and will offset 3.8 million tonnes of carbon emissions, over its 20-year life cycle. In parallel, Masdar and Infinity are exploring a collaboration with Africa50, through their JV Infinity Power, on floating solar photovoltaic (PV) projects in Mozambique.
Zambia – Masdar, ZESCO and International Resource Holdings, an affiliate of International Holding Company, to collaborate in the Zambian market through the decarbonization of mining operations in the country. Masdar will look to supply green electricity from renewable energy projects to power IRH mines.
Masdar, one of the world’s fastest growing clean energy companies and the largest in Africa, has committed to deploying US$2 billion of equity by 2030 in Africa as part of the UAE-led Africa Green Investment finance Initiative, which was announced during the Africa Climate Summit by HE Dr Sultan Al Jaber, Chairman of Masdar and COP28 President. Masdar’s commitment aims to mobilize a total of US$10 billion in investments to deliver 10GW of clean energy capacity in Africa by 2030.
The first test flight to demonstrate the potential for converting Methanol to SAF (Sustainable Aviation Fuel) has taken place in Dubai on the sidelines of COP28 in the UAE. Masdar, TotalEnergies, the UAE General Civil Aviation Authority, Airbus, Falcon Aviation Services and technology licensor Axens all contributed to the successful flight.
06 DEC 2023
The first test flight to demonstrate the potential for converting Methanol to SAF (Sustainable Aviation Fuel) has taken place in Dubai on the sidelines of COP28 in the UAE. Masdar, TotalEnergies, the UAE General Civil Aviation Authority, Airbus, Falcon Aviation Services and technology licensor Axens all contributed to the successful flight.
The Alcohol-to-Jet Synthetic Paraffinic Kerosene pathway (ATJ-SPK) has been certified in 2016 as meeting international standards for jet fuel, however Methanol is not in the list of specified alcohols. The flight, which used a blend of aviation fuel made from olefins, will help support the certification of this new pathway for SAF production from methanol.
With the potential to be derived from renewable electricity, the new pathway could lead to eSAF, an essential lever to meet the challenge of producing SAF worldwide to decarbonize aviation.
Mohamed Jameel Al Ramahi, CEO of Masdar, said:
The launch of the (Dubai Framework) for Sustainable Aviation Fuel, represented an important step on the path towards a more sustainable future in aviation. This test flight demonstrates the shared ambition of Masdar and TotalEnergies to advance the development of SAF and provide another option in ongoing efforts to decarbonize the aviation industry. SAF has huge potential for reducing the hard-to-abate aviation sector’s carbon emissions and Masdar is proud to support the development and growth of this sector. It is a sign of our commitment that we have forged several strategic partnerships in this area.
Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies, said:
TotalEnergies is delighted to have initiated this scouting effort together with Masdar. As industry and energy companies, our collective job is to work on the next generation of clean aviation fuels that could complement SAF currently produced from used cooking oil. This novel pathway to jet, through e-SAF, is critical to support the decarbonization of the aviation industry.
Sustainable Aviation Fuel (SAF)
Sustainable aviation fuel is an immediately available solution for significantly reducing the CO2 emissions of air transportation. It can be used as a drop-in fuel without modifying existing storage and refueling infrastructure, aircraft or engines. Gradual incorporation worldwide should help significantly lower the CO2 emissions of air transportation since, on average, biojet fuel produces an average of 80 per cent fewer CO2 emissions over its lifecycle when produced from waste and residue. eSAF, synthetic fuel derived from renewable energy, is compatible with jet engines and offers a similar performance to fossil fuels.
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