Today, Masdar is active in more than 30 countries, developing renewable energy projects across the Middle East & North Africa (MENA) region and in international markets, and helping to displace more than 16 million tons of CO2 emissions. The company is headquartered in Abu Dhabi, developing an innovation and technology hub helping to stimulate further growth in the wider renewable energy and clean-tech industry and creating new revenue streams for the UAE over the long term.
Reaching financial close on Al Dhafra Solar project
Abu Dhabi National Energy Company (TAQA) and Masdar, alongside partners EDF and JinkoPower, announced the successful financial closing of the Al Dhafra Solar Photovoltaic (PV) Independent Power Producer (IPP) project – set to be the largest single-site solar power plant in the world. Located around 35 kilometers from Abu Dhabi city, the plant will have a capacity of 2 gigawatts, generating enough electricity for 160,000 homes across the UAE.
Driving the development of Indonesia’s first floating solar plant
The Cirata Floating Photovoltaic Power Plant is one of the largest projects of its kind globally and marks Masdar’s first entry into the Southeast Asia market. Indonesia is the largest energy user in the Association of Southeast Asian Nations (ASEAN) region. The country targets 23 percent of its energy mix coming from renewables by 2025, rising to 31 percent by 2030.
Establishment of a joint venture to develop energy-from-waste projects (EfW) in Australia
Masdar made its first investment in Australia last year to acquire a stake in an EfW project in Perth. In November, Masdar and Tribe Infrastructure Group announced a joint venture to develop utility-scale EfW projects across Australia and support their development and management.
Acquisition of a 50 percent stake in 1.6-GW clean-energy portfolio of projects in the United States
Masdar and EDF Renewables North America announced last year that they had agreed to partner in eight renewable energy projects, including three utility-scale wind projects in Nebraska and Texas and five photovoltaic (PV) solar projects in California. This represents Masdar’s second investment in the US, the second-largest market for renewables worldwide.
UAE’s first “green” REIT
Masdar announced last year that it is developing the first sustainable real estate investment trust in the UAE, with the Masdar Green REIT being established at Abu Dhabi Global Market (ADGM). The REIT’s portfolio currently includes four commercial properties within Masdar City, and Emirates NBD Asset Management provides management services.
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