(MENAFN- Khaleej Times) Published: Thu 30 Nov 2023, 7:00 PM
Last updated: Thu 30 Nov 2023, 7:01 PM
Over 17 years, Abu Dhabi Future energy Company (Masdar), have expanded its projects with production of more than 20 gigawatts (GW) in 40 countries across six continents, said Mohamed Jameel Al Ramahi, CEO of Masdar on Thursday.
The company started with the launch of a 10-megawatt (MW) solar power plant in Masdar City, Abu Dhabi followed by the launch of the 100MW Shams renewable energy project in 2013 as the first concentrated solar power plant in the Middle East and North Africa (MENA) region, Al Ramahi said on the occasion of the launch of the UN Climate Change Conference (COP28) at Expo City Dubai.
It then increased its capabilities by 200 times with the launch of the 2,000MW Al Dhafra Solar PV Plant, as part of the UAE's strategic plans to ensure energy security, diversify its energy sources, and achieve carbon neutrality by 2050.
The CEO of Masdar said that the company's current project portfolio is valued at a total of over Dh110 billion. These projects contribute to reducing carbon emissions by 30 million tonnes annually, which is equivalent to powering 5.25 million homes or taking 6.5 million cars off the roads, he explained.
Al Ramahi highlighted Masdar's ambitious goals to consolidate its position as a leading global company in the fields of renewable energy and green hydrogen, as it is working to expand its portfolio to boost its total production capacity and exceed its 100GW by 2030 target, and double that going forward. The company has also set a target to produce one million tonnes of green hydrogen annually by 2020, he went on to say.
Al Ramahi noted that the UAE, since its establishment, has adopted sustainability and environmental protection as pillars of its government and community, just as the UAE Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, was keen to integrate sustainability into the UAE culture and community, devoting his life to building a sustainable future for generations to come.
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He added that Masdar has contributed significantly to achieving the country's goals in the field of renewable energy and has played a pivotal role in diversifying the UAE's portfolio of renewable energy assets, highlighting the steady increase in Masdar's investments in the clean energy sector locally and globally, and the expansion of its collaborations with partners around the world to expand the company's global portfolio of projects.
Al Ramahi said that renewable energy is positioned at the heart of the COP28 agenda given its role in reducing emissions and mitigating the effects of climate change, as the conference calls on stakeholders around the world to triple the capacity of renewable energy production in order to fast-track the global energy transition. He noted that Masdar is hosting a special edition of the Abu Dhabi Sustainability Week (ADSW) at COP28, featuring a series of high-level discussions aimed at driving climate action, developing more effective decisions, and taking practical measures to deal with climate challenges.
He affirmed that Masdar is one of the leading companies in the field of renewable energy in emerging markets, with approximately 2 gigawatts of utility-scale projects in operation in Africa and Southeast Asia, in addition to deploying its development teams in key markets across many countries of the global South. He underscored Masdar's commitment to supporting remote communities and providing economic opportunities, to leave a positive impact on the lives of nations worldwide, as part of its efforts to enhance access to energy in the countries of the Global South through its projects in Africa, the Caribbean, and the Pacific.
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