Masdar Announces Major Renewable Energy Deals at COP28
Masdar Announces Major Renewable Energy Deals at COP28
Masdar, the Abu Dhabi-based renewable energy company, has announced a series of landmark deals at COP28, marking significant progress in its global renewable energy development.
The company has strengthened its partnership with Iberdrola, a Spanish multinational electric utility company, through a global alliance. The two companies plan to co-invest up to €15 billion in offshore wind and green hydrogen projects in Germany, the UK, and the USA.
In Jordan, Masdar has signed an agreement for the development of a 1GW wind project and battery energy storage system. Additionally, a separate agreement has been signed to assess the feasibility of a green hydrogen plant in the country.
In Europe, Masdar is expanding its footprint by partnering with Taaleri Energia, a Finnish wind and solar developer and fund manager. The partnership will focus on the development of eight projects utilizing solar PV and onshore wind technologies.
Masdar is also exploring opportunities with EDF, a French multinational electric utility company, to develop up to 3.6GW of hydropower and renewable energy projects in Krygyzstan.
Furthermore, Masdar has entered into a strategic trilateral agreement with the Department of Energy Abu Dhabi and Abu Dhabi Investment Office. This agreement aims to accelerate the hydrogen economy in Abu Dhabi and position the UAE as a global leader for the production and export of low-carbon hydrogen.
These deals are part of Masdar’s ambitious growth strategy, which includes expanding its presence in various geographies and striving towards 100 GW of clean energy and 1 million tons of green hydrogen by 2030.
Furthermore, Masdar has entered into a strategic trilateral agreement with the Department of Energy Abu Dhabi and the Abu Dhabi Investment Office. This agreement aims to accelerate the hydrogen economy in Abu Dhabi and position the UAE as a global leader for the production and export of low-carbon hydrogen.
