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• Čibuk complex reaches 312MW of installed capacity, representing more than €500 million of foreign direct investment in Serbia, and powering around 178,800 homes

• Project strengthens Serbia's energy security with dependable, competitively priced domestic generation, supporting nation’s target of renewables reaching 45% of electricity mix

• Masdar's additional Serbian pipeline of more than 200MW across solar, wind and battery storage establishes platform for growth across wider region and Central and Eastern Europe

Abu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader, and Taaleri Energia, a Finnish renewable energy fund manager, today inaugurated the 154-megawatt (MW) Čibuk 2 wind farm, creating the largest wind power hub in Serbia and the Western Balkans.

Čibuk 2 sits alongside the 158MW Čibuk 1 wind farm in Serbia's South Banat region, around 40km from Belgrade. Together, the two projects have a total installed capacity of 312MW, providing enough clean electricity to power around 178,800 households. The combined projects represent more than €500 million of foreign direct investment in Serbia’s energy infrastructure.

The wind farm was inaugurated at a ceremony in Belgrade attended by HE Dubravka Đedović Handanović, Minister of Mining and Energy, Republic of Serbia, HE Ahmed Almenhali, Ambassador of the United Arab Emirates to the Republic of Serbia, Ms. Elina Ollila, Deputy Ambassador of Finland to the Republic of Serbia, and the leadership of Masdar and Taaleri Energia.

Strengthening Serbia's energy security

As Serbian electricity demand grows, Čibuk 2 will deliver dependable, competitively priced, domestically generated power for decades, reducing exposure to fuel price volatility and supporting a more resilient, diversified energy system. Beyond the operational Čibuk complex, Masdar has a Serbian development pipeline of more than 200MW spanning solar, wind and battery storage projects. Serbia offers significant long-term growth potential, with plans to bring around 3.5 gigawatts (GW) of new wind and solar capacity online by 2030 and to achieve 45 percent of electricity generation from renewables in the same timeframe.

Her Excellency Dubravka Đedović Handanović, Minister of Mining and Energy, Republic of Serbia commented:

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

Kai Rintala, Managing Director, Taaleri Energia commented:

Delivering economic and community value

During construction of Čibuk 2, more than 1,000 people were engaged across the workforce, subcontractors and project management, the majority of them local to the South Banat region. Comprising 22 Nordex turbines, Čibuk 2 will generate up to 336,000 megawatt-hours (MWh) of clean electricity annually, enough to power around 80,000 homes, while avoiding approximately 311,200 tonnes of carbon dioxide emissions each year. The wind farm is 50/50 owned by Masdar and Taaleri Energia and was developed in partnership with New Energy Solutions.

Masdar has built one of the world’s leading renewable energy portfolios, with more than 65GW of capacity across established and high-growth renewable energy markets, spanning technologies including solar, onshore wind, offshore wind, battery storage and hybrid solutions. With a clear pathway to 100GW of energy capacity by 2030, Masdar continues to expand through disciplined investment in strategic markets, delivering reliable, affordable clean power to meet rapidly growing electricity demand while supporting energy security and economic growth.

• Masdar signs agreement with RWE on future offshore wind partnerships with an indicative investment value exceeding €3 billion

• Masdar also signs agreement with Luxcara to explore potential joint investments in battery storage and also offshore wind projects in Germany in excess of €5 billion

• Potential investments reinforce the UAE’s role as long-term strategic partner in Europe’s energy sector

• Agreements build on Masdar’s 15.6GW European platform and track record in Germany through 476MW Baltic Eagle Offshore Wind Farm

Abu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader, has signed two strategic agreements with leading European energy partners during the State Visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates to Germany, reinforcing the UAE’s growing role as a long-term investor and strategic energy partner in Germany and Europe.

The agreements span offshore wind and battery energy storage, demonstrating Masdar’s commitment to invest in the infrastructure needed to strengthen Europe’s energy security, boost industrial competitiveness and meet growing electricity demand.

Masdar signed a Memorandum of Understanding with RWE to consider joint participation in future German offshore wind auctions. This agreement has an indicative investment value exceeding €3 billion and builds on Masdar and RWE's long-standing partnership.

In a separate agreement, Masdar and Luxcara, an independent German asset manager for energy infrastructure, signed a Memorandum of Understanding to establish a strategic partnership for the energy transition in Germany and wider Europe Under the agreement, the parties will explore strategic investment in battery energy storage systems (BESS) and also in offshore wind, and potentially other technologies, with a potential overall value in excess of EUR 5 billion.

Together, the agreements reflect the scale and breadth of Masdar’s ambitions to further expand its European platform through long-term investment and strategic partnerships. The agreements also highlight the broader strategic relationship between the UAE and Germany and the growing contribution of UAE investment and expertise to Europe’s energy sector.

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

Masdar has an established track record in Germany, with the 476MW Baltic Eagle offshore wind farm becoming fully operational last year. The project forms part of a wider European offshore wind portfolio that includes the 630MW London Array, Dudgeon, Hywind Scotland and the 1.4GW East Anglia THREE project.

Masdar and RWE are already partnering in major UK offshore wind projects, as co-investors in London Array, and jointly advancing the 3GW Dogger Bank South projects off the northeast coast of England.

The Luxcara agreement would further broaden Masdar’s European platform by combining offshore wind with battery energy storage. Storage is becoming increasingly important as renewable capacity grows, helping strengthen grid flexibility and enabling clean electricity to be dispatched when it is needed.

Masdar’s European presence has expanded significantly in recent years through investment and acquisitions across the UK, Germany, Spain, Portugal and Southeastern and Central Europe. The company has invested over US$13 billion in Europe and has developed a portfolio of over 15.6GW. Masdar continues to pursue disciplined growth in priority markets as it advances towards its target of 100GW of renewable energy capacity by 2030.

• 95 foundations now installed at East Anglia THREE offshore windfarm, off the coast of Suffolk

• The £4 billion project is a joint venture between green energy company, ScottishPower and Masdar, a global clean energy leader

• Milestone marks major engineering feat for project that will generate 1.4GW of clean power, boost energy security and support UK economic growth

ScottishPower Renewables and Abu Dhabi Future Energy Company PJSC – Masdar have completedd a major construction milestone at the £4 billion East Anglia THREE offshore wind farm, with all 95 foundations now installed off the Suffolk coast.

Weighing in at 1,200-1,800 tonnes, standing 67-84 metres tall and with a diameter of up to 10.6 metres, the monopiles are the largest to be installed from a jack-up vessel in Europe.

The installation of all 95 transition pieces – 20 metres in height, 8 metres in diameter and weighing more than 400 tonnes – has also been completed.

With turbine installation already under way, offshore and onshore construction will continue at pace over the coming months, clearing the way for East Anglia THREE to become fully operational by the end of 2026, delivering 1.4GW of home-grown clean power to the UK.

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

Charlie Jordan, ScottishPower Renewables CEO, said:

The foundation installation was delivered by Seaway7, with East Anglia THREE the first foundation installation campaign completed by its jack-up vessel, Seaway Ventus.

Lloyd Duthie, CEO Seaway7 said:

East Anglia THREE is the second project to be developed as part of Masdar and Iberdrola’s €15 billion strategic partnership and the first with ScottishPower in the UK.

The almost £2 billion invested in the UK supply chain includes foundation design by Wood Thilsted, the manufacturing of the turbine blades at Siemens Gamesa’s factory in Hull, vessel charters from Norfolk-based NR Marine Services and OEG, and support from metocean and seabed consultants Partrac.

East Anglia THREE is supporting 2,300 jobs during construction and will create around a hundred long-term roles in the East of England.

Its 1.4GW capacity will produce enough homegrown clean power for more than 1.3 million homes, providing greater energy security for the UK.

• US$1.4bn wind and battery project in Zhambyl region is one of largest renewable energy developments in Central Asia

• Landmark project will power approximately 880,000 homes and avoid 2.5 million tonnes of CO₂ emissions annually

• Masdar also signs roadmap agreement with Ministry of Artificial Intelligence and Digital Development to advance Kazakhstan’s first Round-the-Clock renewable energy project

Abu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader, today formally broke ground on its 1-gigawatt (GW) wind farm in the Zhambyl region of Kazakhstan.

The wind farm is Masdar’s first renewable energy development in Kazakhstan and one of the largest integrated wind and battery storage projects in Central Asia, representing investment of US$1.4 billion. It features a 600-megawatt-hour (MWh) battery energy storage system (BESS) to support grid stability. The project is being led by Masdar, and co-developed with W Solar, Qazaq Green Power, a Samruk-Kazyna Fund company, and the Kazakhstan Investment Development Fund.

The milestone ceremony was attended by senior government officials and representatives from the UAE and Kazakhstan, highlighting the strong partnership between the two nations in advancing sustainable development and clean energy deployment.

Once completed, the project will generate enough clean electricity to power approximately 880,000 homes in southern Kazakhstan, while avoiding around 2.5 million tonnes of carbon dioxide emissions annually. In addition, the project will enhance grid infrastructure in southern Kazakhstan through the construction of more than 400 km of overhead transmission lines.

Masdar also signed a roadmap agreement with the Ministry of Artificial Intelligence and Digital Development to advance Kazakhstan’s first Round-the-Clock (RTC) clean energy project, capable of providing utility-scale clean energy 24/7. Aligned with the country’s AI ambitions, the proposed initial phase will provide up to 200MW of baseload power for data centres and AI infrastructure. The roadmap agreement provides the foundation for the project’s development, including site identification, technical assessment, and stakeholder alignment.

Nurlan Zhakupov, Chief Executive Officer of Samruk-Kazyna, said:

HE Yerlan Akkenzhenov, Kazakhstan Minister of Energy and Infrastructure, said:

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

Engineer Hamad Al Ameri, Managing Director and Group CEO of Alpha Dhabi Holding, said:

The proposed Kazakhstan RTC project builds on Masdar’s leadership in round-the-clock renewable energy solutions. In October 2025 the company broke ground in Abu Dhabi on its first 24/7 gigascale solar and battery storage project. The project will feature a 5.2GW (DC) solar photovoltaic (PV) plant, coupled with a 19-gigawatt-hour (GWh) BESS to deliver up to 1GW baseload power every day, the largest combined solar and BESS project in the world.

The projects will support Kazakhstan in achieving its clean energy objectives, and strengthen Masdar’s footprint in Central Asia, where it is already present in several countries. They will also contribute to the company’s target of reaching 100GW of global portfolio capacity by 2030.

Kazakhstan has set ambitious targets to increase the share of renewable energy in its electricity mix, with a goal of reaching 15 percent electricity from renewable energy sources by 2030 and 50 percent by 2050. The Zhambyl project will play a key role in supporting these objectives, while strengthening Kazakhstan’s long-term growth, energy security and sustainable economic development.

• Lord Whitehead, on behalf of the UK Energy Secretary, gives consent to both Dogger Bank South East and West offshore wind farm projects

• The two 1.5GW projects are being developed as a joint venture between RWE and Masdar, and would be co-located over 100km off the northeast coast of England

• Both projects secured Contracts for Difference in the UK Government’s Auction Round 7 and will now progress towards a final investment decision and construction

Global clean power leaders RWE and Abu Dhabi Future Energy Company PJSC – Masdar welcome the decision made by Lord Whitehead on behalf of the UK Energy Secretary’s legal authority to approve the Development Consent Order for the two Dogger Bank South (DBS) offshore wind farms.

The proposed wind farms, DBS West and DBS East, are expected to have a combined installed capacity of 3 gigawatts (GW) and would be capable of producing enough electricity to power the equivalent of approximately three million UK homes annually1.

The wind farms are set to be located over 100km off the northeast coast of England, with the potential to create significant opportunities for businesses and communities in Yorkshire, the Humber, and wider UK.

In January (2026), the projects successfully secured Contracts for Difference (CfD) with the UK Government through the Allocation Round 7 (AR7).

The Development Consent Order application was originally made in June 2024, with over 1,000 documents submitted to the Planning Inspectorate for review, and 10 online examination hearings being held.

RWE and Masdar will now conduct detailed final design work and progress procurement decisions with the aim of taking a final investment decision (FID) in 2027.

The projects are being developed as a Joint Venture between RWE (51%) and Masdar (49%).

Further information about the projects DBS West and DBS East can be found here.

• First turbine installed at ScottishPower and Masdar’s £4 billion East Anglia THREE offshore windfarm, featuring 115-metre blades – the biggest manufactured and used in the UK

• All 285 blades for the 14MW turbines are being manufactured in the UK at Siemens Gamesa’s factory in Hull

• When complete, the 1.4 GW East Anglia THREE project will produce enough clean power for more than 1.3 million homes

ScottishPower and Masdar’s East Anglia THREE offshore windfarm has set a UK offshore wind record with the installation of its first turbine – the first in the UK to feature 115 metre blades, each one longer than a Premier League football pitch.

All 285 of the record-breaking blades for the project’s 95 turbines are being manufactured in the UK at Siemens Gamesa’s factory in Hull.

Standing around 262 metres tall – higher than the observation deck at the Shard – the 14MW Siemens Gamesa turbines have a rotor diameter of 236 metres.

A single revolution of just one turbine will produce enough electricity to power a UK home for more than four days, charge around 1,700 mobile phones, or brew nearly a thousand cups of tea.

Charlie Jordan, ScottishPower Renewables CEO said:

“East Anglia THREE will be the biggest and most powerful offshore windfarm in our portfolio. That means billions of pounds invested in UK and global supply chains; thousands of jobs supported during construction; more than a hundred long-term roles created in the East of England; and greater energy security, with more clean power coming on to the grid than ever before.

“This achievement is testament to successful collaboration with our strategic investment partner, Masdar, and the dedication and excellence of our own teams and supply chain partners. East Anglia THREE will play a crucial role in the UK’s clean energy future and it’s fantastic to see our vision come to life.”

Located off the Suffolk coast in the UK, East Anglia THREE will be one of the world’s largest offshore windfarms when it comes into operation, delivering enough homegrown, clean electricity to power the equivalent of 1.3 million British homes.

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

The blades used on the East Anglia THREE turbines are seven metres longer than the previous record of 108 metres – also manufactured by Siemens Gamesa.

Darren Davidson, UK Head of Siemens Energy and Siemens Gamesa, said:

The turbine installation was executed by Cadeler’s O-class Wind Osprey jack-up vessel, which will be joined later this month by the next generation P-class Wind Pace on its first deployment in European waters as the installation programme continues.

Mikkel Gleerup, Cadeler CEO said:

“By deploying two of our vessels in parallel, we can maintain a consistent and efficient installation pace throughout the campaign. This also marks Wind Pace’s first project in European waters since her delivery last year. Built to install the next generation of turbines, she brings increased capacity and operational flexibility, enhancing installation efficiency and supporting a more streamlined programme. Together, this strengthens our ability to deliver safely, reliably and at scale.”

• Exus to acquire 60 percent stake in portfolio of nine wind farms located in northern and central Portugal

• Masdar is repowering the portfolio, which will increase total operational capacity to 164MW, with plans to codevelop 110MW of additional solar capacity

• Agreement will support both companies’ expansion plans, while accelerating Portugal’s energy transformation

Exus Renewables, a leading global energy solutions provider, has signed an agreement with Abu Dhabi Future Energy Company PJC – Masdar, a global clean energy leader, to acquire a 60 percent stake in a portfolio of nine wind farms in Portugal. Masdar will retain a 40 percent stake in the portfolio.

The operational capacity of the portfolio, located in Guarda and Castelo Branco, is currently being increased in one of Portugal’s first large-scale repowering initiatives, taking overall capacity from 144MW to 164MW. The projects have entered the final development phase of repowering, with completion expected by 2027. Once fully operational, the repowered sites will generate clean, sustainable electricity for more than 200,000 households, avoiding approximately 41.7 kilotons of CO₂ emissions every year.

“Repowering unlocks significant new renewable capacity from existing sites. Together with Masdar, we are scaling this approach in Portugal as part of Exus’ optimisation-led growth strategy,” said Luis Adão da Fonseca, CEO at Exus Renewables. “This deal significantly strengthens Exus’ operational presence across Europe and underscores our innovative approach to maximising the performance and value of renewable assets. We’re delighted to be working with Masdar on this highly strategic project.”

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

The repowering initiative includes plans for hybridization, adding 110MW of solar, to be codeveloped by Masdar and Exus, which would further enhance the portfolio’s capacity and contribution to national clean energy targets.

This initiative is fully aligned with Portugal’s energy transition roadmap which targets 10.4 GW of onshore wind capacity by 2030 and achieving net zero by 2045. Through repowering and hybrid solar integration, the project contributes to capacity growth and system optimisation.

With Exus accelerating its expansion across Europe, the company is positioning itself as an integrated energy platform operating across the entire value chain from early-stage development and project optimisation to asset management and hybridization – with the ambition of delivering comprehensive, end-to-end energy solutions.

Masdar is targeting expansion across the Iberian Peninsula and Europe, with the company aiming for global portfolio capacity of 100GW by 2030. Today, Masdar is one of the world’s largest developers and operators of renewables worldwide, with platforms for growth in the world’s most commercially attractive, fast-growing energy markets.

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

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

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

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

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

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

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

Markus Krebber, CEO of RWE AG:

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

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

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

Companies will look to leverage combined strengths to accelerate technologically advanced, sustainable solutions

AD Ports Group (ADX: ADPORTS), a global enabler of integrated trade, transport, industry, and logistics solutions, and Abu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader, have signed a Partnership Agreement to collaborate on the development and delivery of offshore wind projects.

Under the agreement, the companies will identify opportunities where AD Ports Group can serve as a key partner and contractor for Masdar global offshore wind initiatives. The parties will jointly determine technical requirements for Masdar projects and identify where AD Ports Group can deploy its extensive technical and logistical capabilities, including the provision and fabrication of substations, onshore and offshore logistics solutions, subsea services, and maintenance and operations support, to meet project needs effectively and with cost efficiencies.

Captain Ammar Al Shaiba, CEO - Maritime & Shipping Cluster, AD Ports Group, said:

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

Offshore wind is a vital pillar of the global energy transformation, with turbines located in the ocean able to harness stronger and more consistent winds to deliver reliable high energy yields. Masdar has developed and is operating several landmark offshore wind projects in Europe, including the 476-megawatt (MW) Baltic Eagle project in Germany and the 1.4-gigawatt (GW) East Anglia THREE project in the UK, demonstrating the viability and scalability of this technology.

The collaboration between AD Ports Group and Masdar is aligned with the UAE’s national vision for economic diversification and sustainable development. By harnessing advanced maritime infrastructure, integrated logistics networks, and technical expertise, the partnership aims to set a new benchmark for offshore wind deployment.

• The 238.5-MW facility will produce power equal to the annual use of 81,000 homes

• The project will generate more than $100 million in property taxes, landowner payments and local contributions

• This is the company’s second wind project in Texas, bringing the company’s total clean energy generation in the state to 273 MW

Terra-Gen, one of the largest independent, integrated renewable energy producers in the United States, jointly owned by Masdar and Igneo Infrastructure Partners, announced today the commissioning of the Monte Cristo I Windpower Project.

The 238.5-megawatt facility, located in Hidalgo County, Texas, will generate more than 850 gigawatt-hours of clean electricity annually, equivalent to powering approximately 81,000 homes a year. The facility’s capacity has been contracted to two corporate buyers through long-term power purchase agreements.

A ribbon-cutting ceremony at the site marked the milestone, bringing together companies’ representatives, local officials, and members of the community.

“It is an honor to celebrate the hard work and dedication of the hundreds of men and women who made the commissioning of the Monte Cristo wind project possible,” said John O’Connor, Chief Financial Officer for Terra-Gen. “This project underscores Terra-Gen’s commitment to expanding access to renewable energy across Texas and the U.S., strengthening regional grid reliability with clean, sustainable power, and investing in our local communities.”

Construction of the Monte Cristo I Windpower project created approximately 280 jobs at the peak of activities, with more than 490,000 hours worked without a lost-time incident during construction and transition to operations.

In addition, the project also enhanced the community through infrastructure upgrades, including improvements to more than 11 miles of Texas Department of Transportation roads and 25 miles of county roads.

Beyond the construction phase, the facility will continue to deliver significant long-term economic benefits to the region, including more than $100 million in property taxes, landowner payments and other local contributions during the project’s life.

“We welcome Terra-Gen’s continued investment in Hidalgo County,” said Richard F. Cortez, Hidalgo County Judge. “This development represents more than clean, renewable energy, it’s an investment in our people and our long-term economic growth. By creating high-quality jobs, generating millions in local spending, and supporting essential public services, projects like this help us develop and attract human capital while positioning Hidalgo County as a leader in sustainable progress.”

Monte Cristo I Windpower is Terra-Gen’s second wind project in Texas. Together with the Texas Big Spring wind facility, the company’s clean energy generation in the state now totals 273 MW. Phase 2 of Monte Cristo Windpower has also been permitted and development activities for the project are ongoing.

Monte Cristo I Windpower is the first project to be completed since Masdar acquired a 50 percent stake in Terra-Gen in 2024. This acquisition underscores Masdar’s long-term commitment to investing in and supporting the U.S. energy transformation, and the strategic importance of the market in the company’s broader global portfolio.