Wednesday 29 June 2022

Masdar, NPCC sign deal to explore clean energy projects

ABU DHABI, May 14, 2022

Masdar, a global leader in renewable energy projects, has signed an agreement with the UAE-based National Petroleum Construction Company (NPCC), a leading engineering procurement and construction company and a subsidiary of National Marine Dredging Company (NMDC), to explore collaboration in offshore wind, green hydrogen, and other renewable energy technologies.
Masdar is a major developer and investor in wind projects, which has major stakes in global projects such as a stake in the London Array, one of the largest offshore wind farms in the world, and in Hywind Scotland, the world’s first floating offshore wind farm, which became operational in 2017. 
This year, Masdar signed an agreement with Cosmo Energy Holdings Company, one of Japan’s largest energy companies, to explore the development of renewable energy initiatives, including offshore wind projects, in Japan. 
The deal was signed by Masdar CEO Mohamed Jameel Al Ramahi and NPCC CEO Engineeer Ahmed Al Dhaheri at an event held in Masdar’s head office in Abu Dhabi. 
The companies will initially focus on collaboration in offshore wind and also explore extending their efforts to cover other sectors, including green hydrogen production and battery storage technologies. 
Al Dhaheri said NPCC continually explores new opportunities that align with its resources and engineering expertise in decarbonization projects in support of the UAE’s climate change action initiatives and long-term sustainable development vision. 
"Partnering with Masdar will undoubtedly contribute towards advancing energy transition in the country and open new avenues for clean energy integration and adoption," he stated.
Al Ramahi said: "Masdar and NPCC share a common commitment to advancing the UAE’s leadership position in the energy sector and to driving sustainable growth."
"By leveraging each other’s world-class expertise in our respective fields, our combined efforts could play a vital role in achieving the UAE’s clean energy objectives and support our nation’s net-zero commitment," he noted.
Masdar, he stated, was also working in green hydrogen development, in collaboration with a number of international partners. 
In December, it formed a strategic alliance with France’s Engie to co-develop a UAE-based green hydrogen hub, with a planned investment in the region of $5 billion. 
Masdar and Hassan Allam Utilities last month co-signed agreements with leading organisations in Egypt related to development of green hydrogen production plants in the country, targeting an electrolyzer capacity of 4 gigawatts (GW) by 2030, he added.-TradeArabia News Service


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