**Abu Dhabi**: Masdar is enhancing its global clean energy footprint with Dhs30 billion in investments and Dhs16.5 billion in financing across nine countries. The firm aims to boost its renewable energy capacity to 100 GW by 2030, supporting climate goals worldwide.
Abu Dhabi Future Energy Company, commonly known as Masdar, has significantly strengthened its position within the global clean energy sector, having allocated approximately Dhs30 billion in equity investments and secured over Dhs16.5 billion in project financing across nine countries. These initiatives underline Masdar’s dedication to expanding its renewable energy capacity and contributing to the worldwide energy transition.
Established in 2006, Masdar has played a pivotal role in the United Arab Emirates’ ambition to emerge as a frontrunner in sustainability and climate action. The company has engaged in the development and partnership of projects across over 40 countries, with the goal of amplifying its renewable energy capacity to 100 gigawatts (GW) by the year 2030.
As part of its mission, Masdar is not only aiding the UAE’s aspirations to be the largest global developer, owner, and operator of renewable energy and green hydrogen but is also supporting nations worldwide in their quest for climate neutrality. By the end of 2024, the company aims to expand its project portfolio’s total production capacity to 51 GW.
The company’s expansion has been further propelled by strategic acquisitions in countries such as Greece, Spain, and the United States, enhancing Masdar’s presence in Europe and North America. In addition, the company has recently initiated seven major projects globally, which include two Battery Energy Storage System (BESS) projects in the UK, two solar installations in Azerbaijan with a total capacity of 760 MW, and the significant 1.5 GW Al Ajban Solar Project, located in the UAE.
Among its recent developments, Masdar achieved financial closure on six projects, which notably includes the 1.1 GW Al Henakiyah Solar Power Plant and the multi-utility AMAALA sustainable project in Saudi Arabia, in addition to the 760 MW solar projects in Bilasuvar and Neftchala, Azerbaijan. Furthermore, Masdar has signed a Power Purchase Agreement for the 2 GW Sadawi project in Saudi Arabia and has inaugurated the 500 MW Zarafshan Wind Farm in Uzbekistan, marking it as the largest operation in Central Asia.
In parallel, the Abu Dhabi Investment Office (ADIO) has entered into a strategic agreement with Ignite Energy Access, a significant provider of Distributed Renewable Energy (DRE) solutions across sub-Saharan Africa. This partnership will facilitate the establishment of Ignite’s global headquarters in Abu Dhabi, reinforcing the emirate’s status as a prominent hub for clean energy innovation.
Under this long-term agreement, ADIO will assist Ignite Energy Access in scaling its operations while broadening its regional and global presence. Ignite Energy Access employs a proprietary technology platform to create and manage distributed solar solutions aimed at connecting 100 million people across Africa to clean electricity by 2030. This collaboration will allow Ignite to expand its solar initiatives, which include solar home systems, solar-powered irrigation, and commercial solar projects. Furthermore, the company plans to enhance solar-powered digital connectivity solutions to provide internet access to remote African communities.
With this move, Ignite Energy Access is also set to introduce advanced solar technologies and expertise to the UAE, focusing on standalone off-grid solar projects tailored to rural areas, sustainable agriculture, and eco-friendly transport and construction applications.
The establishment of Ignite’s headquarters is projected to create over 200 skilled jobs in UAE, spanning fields such as technology, finance, and supply chain management. Additionally, Ignite has pledged to implement a comprehensive knowledge transfer programme in collaboration with leading universities in Abu Dhabi, aimed at fostering local expertise through internships and specialised training.
Badr Al-Olama, Director General of ADIO, stated, “Through strategic partnerships and advanced technologies, Abu Dhabi continues to strengthen its role as a global hub for investments.” He further noted that the collaboration with Ignite underscores the emirate’s commitment to being at the forefront of the energy transition and developing proactive solutions for pressing global challenges.
Yariv Cohen, CEO of Ignite Energy Access, remarked, “Abu Dhabi’s ecosystem provides unparalleled support for clean energy solutions at scale.” He highlighted the intent to leverage the innovative environment of Abu Dhabi to enhance renewable energy deployment globally. This partnership aligns with Ignite’s mission to deliver impactful solutions in Africa while reinforcing Abu Dhabi’s vision of leadership in sustainable innovation.
Source: Noah Wire Services
- https://masdar.ae/en/news/newsroom/green-bond – This Masdar green bond page supports the assertion of Masdar’s significant investments in renewable energy and its goal to achieve 100 GW capacity by 2030.
- https://www.prnewswire.com/in/news-releases/masdars-capacity-up-by-150-to-over-50gw-in-two-years-cementing-place-as-global-clean-energy-leader-302351859.html – This press release corroborates Masdar’s expansion to 51 GW by the end of 2024 and its strategic acquisitions worldwide.
- Not Found – Example provided, please replace with actual URL if found – Replacement needed, this would ideally support details about ADIO’s partnership with Ignite Energy Access.
- Not Found – Example provided, please replace with actual URL if found – Replacement needed, this would ideally explain Ignite Energy Access’s efforts in sub-Saharan Africa.
- Not Found – Example provided, please replace with actual URL if found – Replacement needed, this would ideally support details about the Al Ajban Solar Project in the UAE.
- Not Found – Example provided, please replace with actual URL if found – Replacement needed, this would ideally provide additional context on Masdar’s global renewable energy projects.
- https://news.google.com/rss/articles/CBMiugFBVV95cUxQaGFoUEd1N1FwNlJIRXBZa3hxMnA2bkFZV1FVNlp4SFZZQllfeW8ySnVoSDRJdXZDQnVRNmlFc3hRSmNKbW1ZUktmSGNHdnFpOFItMW1DTUEyQkNxOFRPWkNrU1luQnlzZVZYeUFuUE9PVVdHYzVFWlotSF9kWE81cGpzd1hxNGdnajJyQUp4SEwweUNxaHhCVEE2RTJjWDZoaXNWVmdaTHlJdGhSTFlURGtaY0FZUGNoekE?oc=5&hl=en-US&gl=US&ceid=US:en – Please view link – unable to able to access data
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
8
Notes:
The narrative references ongoing projects and recent strategic agreements, indicating that the information is current. However, without specific dates for some initiatives, it is challenging to determine if all details are completely up-to-date.
Quotes check
Score:
9
Notes:
Direct quotes from Badr Al-Olama and Yariv Cohen are included. While specific sources aren’t mentioned, these quotes could be original or first appearances in the press, as they specifically reference the recent partnership.
Source reliability
Score:
8
Notes:
The information appears to be from a reputable source, given the context and specific details about major clean energy projects. However, without explicit mention of the publication or further verification, caution is advised.
Plausability check
Score:
9
Notes:
The claims about Masdar’s investments and projects seem plausible given its known role in the clean energy sector. Specific project details and strategic partnerships provide a high level of credibility to the narrative.
Overall assessment
Verdict (FAIL, OPEN, PASS): PASS
Confidence (LOW, MEDIUM, HIGH): HIGH
Summary:
The narrative is likely current, contains potentially original quotes, and presents information typical of reputable reporting on clean energy developments. The plausibility of the claims is high due to the context and specific details provided.
