IPP
, United Arab Emirates

Masdar’s renewable portfolio rises 40% in 2021

Its electricity generation capacity increased to over 15GW last year from 10.7GW.

United Arab Emirates-based renewable energy firm Masdar posted a 40% increase in its clean energy portfolio in 2021.

In a statement, Masdar said the electricity generation capacity of all the projects it has invested in, both installed and under development, has increased to over 15 gigawatts (GW) in 2021 from 10.7 GW, citing its 2021 Annual Sustainability Report.

It added that its operating clean energy portfolio averted almost 7.5 million tonnes of carbon dioxide last year, which is a 38% increase from 2020.

The company in 2021 entered new markets including Azerbaijan, Armenia, Georgia, Greece, Iraq, and Poland, bringing its investment in renewables to over 40 countries worth more than $20b.

In December last year, it announced that it will partner with UAE’s energy giants, ADNOC, TAQA, and Mubadala to form a clean energy powerhouse under the Masdar brand with a combined current, committed and exclusive capacity of more than 23GW of renewable energy and is expected to reach over 100GW.

CEO Mohamed Jameel Al Ramahi said the company is able to continue to contribute to UAE’s net-zero carbon goals. The country launched its Net Zero by 2050 Strategic Initiative in October last year.

“Masdar and our sustainability mission will scale even greater heights going forward. With our new shareholders and structure in place, we are looking to significantly grow our global clean energy capacity,” the CEO said.

“In doing that, we pledge to further strengthen our (environmental, social, and governance) credentials while increasing our contribution to the United Nations Sustainable Development Goals in line with the UAE’s own efforts,” he added.

Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Laos poised to be Southeast Asia’s key electricity supplier
This comes amidst the development the Laos-Thailand-Malaysia-Singapore Power Integration Project.
Power Utility
US sanctions hit Iran’s clean energy sector: report
These have made it challenging for Iran to secure debt and equity finance amongst others. 
APAC to generate lion’s share of world’s energy by 2030
The region is expected to account for 56% of the world’s energy in the  next decade.
Power Utility
Wind energy industry needs 570,000 technicians by 2026
This comes as the global onshore and offshore wind increase in size by 67%.
People

Exclusives

Why Philippines’ EDC will not fire up coal
The devastating effects of climate change led the company to develop REs only.
Environment
Indonesia’s Pertamina signs up for hydrogen development
Pertamina is set to produce green and blue hydrogen as part of its clean energy target in 2030.