Masdar, IFC partner to develop RE in emerging markets

The partnership will include support for a green hydrogen platform.

United Arab Emirates-based energy company Masdar signed an agreement with the International Finance Corporation (IFC) to explore collaboration for the development of renewable energy projects and technologies in emerging markets.

In a statement, Masdar said the agreement mandates the parties to explore support for establishing a green hydrogen platform for these markets.

They will also study potential collaboration on bankability and structuring issues for renewable energy projects in Africa. 

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Masdar and IFC will also look into mechanisms that will ramp up the deployment of distributed photovoltaic systems and develop innovative new technologies and business models to address the climate crisis.

Masdar has developed projects in emerging markets in Asia and Africa. It has completed projects in African countries such as Egypt, Mauritania, Seychelles, and Morocco. IFC, meanwhile, uses its capital and expertise to develop markets.