Masdar’s energy portfolio grows 62% in 2024

Operational and under-construction projects reached 32.6 GW.

Masdar has recorded a 62% growth in its energy portfolio in 2024, with over 50 gigawatts (GW) of projects in various stages of development.

In its 12th Annual Sustainability Report, Masdar said its operational, under construction and advanced pipeline capacity has reached 51 GW, more than halfway to its 2030 target of 100 GW. Total capacity for operational and under construction projects almost doubled to 32.6 GW, with operational projects generating 29,225 gigawatt-hours (GWh) of clean electricity, avoiding 15.5 million tonnes of carbon dioxide equivalent.

The company also made acquisitions in 2024, including Greece’s Terna Energy, and the US’ Terra-Gen.

Masdar’s second green bond issuance, in July 2024, was met with strong global demand, being 4.6 times oversubscribed.

“As a global investor, developer, and operator we are delivering impact at scale across key geographies and helping to shape the future of clean energy. We will continue to drive innovation in the clean energy sector and reinforce our position as a partner of choice for governments and communities across the globe,” said Mohamed Jameel Al Ramahi, Chief Executive Officer, Masdar.