Abu Dhabi Future Energy Company– Masdar is celebrating 20 years as a global leader in renewable energy.
Established on April
23, 2006, by His Highness Sheikh Mohamed bin Zayed Al Nahyan through Mubadala
Investment Company, Masdar was created to diversify the UAE’s economy and
accelerate worldwide adoption of clean energy at a time when renewables were
still emerging and unproven at scale.
From a single
grid-connected solar plant in Masdar City in 2009, the company has grown into
one of the world’s largest renewable energy developers and operators, with more
than 65 GW of installed and planned capacity and a target of 100 GW by 2030.
Its landmark projects
include the 2 GW Al Dhafra solar plant, one of the largest single-site solar
facilities globally, capable of powering around 200,000 homes in the UAE.
Masdar has expanded
into a global presence spanning 12 countries with over 1,100 employees. Its
portfolio includes pioneering projects such as the Hywind Scotland floating
offshore wind farm (30MW), Indonesia’s 145MW Cirata floating solar plant, and
Uzbekistan’s 500MW Zarafshan wind farm.
In 2022, Masdar’s
ownership structure evolved with Taqa, Mubadala, and Adnoc becoming joint
shareholders, strengthening its growth ambitions.
Strategic acquisitions
in Spain (Saeta Yield), the US (Terra-Gen), and Greece (TERNA ENERGY) have
further expanded its international footprint.
Masdar is also
advancing next-generation energy systems. In partnership with EWEC, it is
developing a 5.2 GW solar project integrated with a 19 GWh battery system to
deliver 1 GW of continuous baseload renewable power, setting a global benchmark
for large-scale clean energy reliability.
The company continues
to scale aggressively, including a $2.2 billion joint venture with
TotalEnergies covering renewable assets across Asia.
To achieve its 100 GW
target by 2030, Masdar plans to invest $30–35 billion in equity and project
finance, adding around 10 GW of new capacity annually, reinforcing its role as a
driving force in the global energy transition.
Dr Sultan Al Jaber,
UAE Minister of Industry and Advanced Technology and Masdar's founding CEO,
said: ‘In 2006, investing in renewable energy wasn't the obvious call. It was
the courageous one. Technologies were nascent. Scale was unproven. The
economics hadn't yet turned. His Highness Sheikh Mohamed bin Zayed Al Nahyan
saw not what renewables were, but what they could become. That distinction
between what exists and what is possible is the difference between following a
trend and setting one. Driven by His Highness' long-term vision and unwavering
commitment, Masdar didn't ride the clean energy wave. We helped create it.”
Mohamed Al Ramahi,
Chief Executive Officer of Masdar, said: “Masdar’s rise over the past 20 years
has been driven by the UAE’s ambition and foresight, anticipating the rise in
clean power demand and looking to diversify its economy early. Through
partnership, innovation, and investment we have grown into a global business,
driving the development and deployment of clean energy solutions worldwide.
Today, with global electricity demand growing at pace, Masdar stands at the centre
of a thriving international industry, delivering affordable, secure power to
our partners around the world.” -OGN/ TradeArabia News Service
