Masdar and RWE have signed a Memorandum of Understanding (MoU) to support the expansion of renewables in Germany and Europe, advancing the continent's energy transformation.
Under the MoU, Masdar
and RWE will work together to identify and pursue investments in battery energy
storage system (BESS) projects in Germany.
Masdar will explore
investing by 2030 in existing BESS projects in the country owned by RWE, with a
capacity of up to 1 gigawatt (GW).
In addition, RWE and
Masdar will assess the joint development of new BESS projects of up to 1 GW by
2035.
Development of battery
storage systems will support the expansion of renewable energy by balancing
intermittent supply, therefore ensuring a stable, affordable, and secure power
supply in Germany.
This will also help to meet the growing demand
for reliable power from new data centres.
The agreement was
exchanged by Dr Sultan Al Jaber, UAE Minister of Industry and Advanced
Technology, Managing Director and Group CEO of Adnoc and Chairman of Masdar,
and Dr Markus Krebber, CEO of RWE, during the Chancellor’s state visit to the
UAE.
Mohamed Al Ramahi, CEO
of Masdar, said: “Battery storage is critical to unlocking renewable energy
deployment and delivering clean, reliable, affordable electricity for the
benefit of consumers, businesses and communities. Germany is an important
market for Masdar as we progress toward our target of 100 gigawatts of capacity
worldwide by 2030 and we look forward to building on our already powerful
partnership with RWE to support energy transformation in Germany and across
Europe.”
Dr Markus Krebber, CEO
of RWE, said: “The MoU with Masdar reflects the importance RWE and Masdar place
on flexible energy storage as a foundation for grid stability, security of
supply, and the integration of renewable energy – core pillars of Germany’s
climate neutrality and energy policy objectives. Our collaboration is
underpinned by a strong track record, most recently demonstrated by our joint
success in the latest UK offshore wind auction for the Dogger Bank South
projects. Together, we are making significant progress towards a secure and
sustainable energy future for Europe.” -OGN/TradeArabia News Service
