Abu Dhabi – Mubasher: Abu Dhabi Future Energy “Masdar” – the largest clean energy producer in the United Arab Emirates – plans to double its capacity this year, helping to boost the country’s green potential ahead of a major climate conference.
Mohammed Jameel Al Ramahi, CEO of the company – which manages projects from the United Kingdom to Asia – said it aims to boost its global capacity to about 40 gigawatts by the end of the year, according to Bloomberg, on Tuesday.
Al Ramahi said: “We are on the right track to achieve the goal of 100 gigawatts that we set for ourselves by 2030… and I expect that we will double our capacity by the end of the year… Acquisitions will be an important part of its strategy to reach 100 gigawatts.”
Masdar operates solar power plants in the UAE, the third largest oil producer in the Organization of the Petroleum Exporting Countries (OPEC), and the company is also one of the largest investors in clean energy in the United Kingdom, including the London Array wind project. Navy.
This year, Masdar bought wind and geothermal energy companies in Europe, Africa and Asia, giving it stakes in projects worth about $6 billion, and adding about 3.4 gigawatts of energy.
Al Ramahi said: “We need to make acquisitions” to reach the 2030 production capacity goal, and the company will target “different technologies and diverse geographic regions with different partners,” adding, “It is a big goal and requires a lot of capital.”
It is worth noting that the Emirati company sold its first green bonds earlier this year, worth $750 million, and Al Ramahi said that it plans to raise liquidity twice a year by selling securities.
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2023-09-12 14:46:32
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