Sunday 31 May 2020

Officials at the signing ceremony

Masdar, BYD sign deal on clean energy solutions

ABU DHABI, April 13, 2016

UAE-based renewable energy company Masdar has announced a preferred partnership agreement with China’s BYD Company, a leading supplier of rechargeable batteries, aimed at promoting the commercialisation of clean transport and battery storage systems.

The agreement, announced at the on-going Cityscape Abu Dhabi, will later expand to include activities such as solar panel technology for utility scale and rooftop projects, LED lighting, and solar-powered street lighting, said a statement from the company.

The agreement will see Masdar City provide a platform to showcase BYD technology and access to ongoing research at the Masdar Institute of Science and Technology, as well as to the many demonstration projects active across the city, such as the personal rapid transit (PRT) driverless vehicles programme and Electric Energy Storage Solutions Hub.

Established in 1995, BYD specialises in batteries for mobile devices, grid-tied energy storage and electric vehicles (EVs), and today has a market capitalisation of more than $19 billion.
As well as being the world’s largest manufacturer of rechargeable batteries, it is also the world’s largest producer of electric vehicles and is a leader in electrified public transportation.

With a presence in more than 200 cities in 48 countries, the company sold more than 70,000 EVs in 2015 alone.

Mohamed Al Ramahi, chief executive officer of Masdar, said: “Today’s agreement is the basis for a long-term partnership that will add further value to the advanced research and development (R&D) already taking place at Masdar City in Abu Dhabi, and will strengthen the city’s positioning as an ‘innovation ecosystem’ connecting R&D, education, business and investment.”

“We are looking forward to working with BYD on a range of cutting-edge projects, and to integrating their expertise as we pursue the many growth opportunities in the clean energy sector, particularly in the Middle East and North Africa (Mena),” he added.

AD Huang, general manager of the Middle Eastern and African Region, BYD, said: “Our partnership with Masdar is an additional source of inspiration to realise new energy and technology solutions that also protect the environment.”

“The agreement will raise our profile in the UAE and the wider Middle East, and help us to deliver on our ‘Three Green Dreams’ for the region: affordable solar power generation, efficient energy storage and electrified public transportation,” he added.

Masdar City’s existing projects and future expansion are being showcased at a dedicated exhibition stand at Cityscape Abu Dhabi, the real estate exhibition and conference running until tomorrow (April 14), it stated. – TradeArabia News Service

Tags: | agreement | Masdar | deal | BYD |

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