, United Arab Emirates
Photo from Masdar.

Masdar clean energy capacity reaches 20GW in 2022

It increased by 33% compared to the previous year.

Abu Dhabi-based Masdar’s clean energy reached 20 gigawatts (GW) in 2022, increasing by 33% year-on-year, and almost doubling or rising by 87% compared to its 2020 capacity.

With the development, Masdar said it is on track to achieving its goal to become one of the largest renewable energy firms in the world by 2030, the company said in a statement.

It generated 18,000 GW-hours of clean energy and avoided 10 million tonnes of carbon dioxide emissions in 2022.

READ MORE: Masdar enters geothermal market

“2022 was a pivotal year in our legacy of growth. We officially welcomed ADNOC and TAQA as Masdar’s shareholders alongside Mubadala, setting out on an ambitious course to grow our clean energy capacity to 100 GW and 1 million tonnes per year of green hydrogen production by 2030,” said Masdar CEO Mohamed Jameel Al Ramahi.

Masdar also launched a GGreen Finance Framework that will serve as a guideline in its future financing activities such as plans to be an issuer of green bonds in the debt capital market.

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