Masdar, Silk Road Fund to invest $2.8b in renewable energy projects

This will focus on projects in Belt and Road Initiative countries.

Masdar, and China’s Silk Road Fund (SRF) have signed a memorandum of understanding to explore potential co-investment opportunities and inject up to $2.8b in renewable energy projects.

In a statement, Masdar said the partnership will cover Belt and Road Initiative (BRI) countries, primarily in the developing world and global south.

The BRI connects Asia, Europe, Africa and other parts of the world through a network of infrastructure and trade projects. It serves as a link to boost economic, trade, and investment interactions amost the participating countries and regions.

Masdar has investments in the Middle East, Central Asia, Southeast Asia and Africa, many of which are participants in the Belt and Road Initiative. The company said it will continue to invest in these regions as part of its strategy to reach 100 gigawatts (GW) of renewable energy capacity by 2030.

Meanwhile, SRF’s renewable power portfolio totals more than 7 GW in Belt and Road regions, including the Middle East, Africa, Southeast Asia and Latin America.