By Tsvetana Paraskova - Oct 21, 2024, 5:01 AM CDT
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Masdar, the renewables energy giant of the United Arab Emirates (UAE), wants to become one of the world’s biggest renewable companies targeting 100 gigawatts (GW) of solar and wind assets by 2030, CEO Mohamed Jameel Al Ramahi told the Financial Times in an interview published on Monday.
Masdar sees having up to a 35% market share of the renewables power capacity in the Middle East by the end of the decade, 20% of Europe’s clean energy capacity, and up to 25% of the U.S. capacity, Al Ramahi told FT.
Asia will also be a significant part of Masdar’s portfolio, the executive added.
The company’s shareholders are Abu Dhabi’s oil giant ADNOC, Abu Dhabi’s sovereign investment company Mubadala, and state utility giant TAQA.
Masdar is on an investment spree to buy renewable assets worldwide, and this spending drive will continue, Al Ramahi told FT.
Last month, Masdar said it would buy renewable power developer Saeta Yield from Brookfield in a deal valuing the target company at $1.4 billion. Saeta Yield develops, owns, and operates renewable power assets in Spain and Portugal.
The deal would be one of the biggest renewable energy transactions in Spain, one of Europe’s top markets for renewables.
Earlier this year, Masdar also announced an agreement with Spain’s power firm Endesa to become a partner for 2.5 GW of renewable energy assets in Spain.
Masdar also signed in June a $3.5 billion (3.2 billion euro) deal to buy Greece’s Terna Energy in the largest ever energy transaction on the Athens Stock Exchange, and one of largest in the EU renewables industry.
In early October, the UAE firm closed the acquisition of a 50% stake in Terra-Gen Power Holdings II, one of the largest independent renewable energy producers in the United States.
In another strategic market, Masdar is advancing, in partnership with RWE, the Dogger Bank South offshore wind project in the UK, part of the larger Dogger Bank, which will be the world’s biggest offshore wind farm when completed.
By Tsvetana Paraskova for Oilprice.com
Masdar, the renewables energy giant of the United Arab Emirates (UAE), wants to become one of the world’s biggest renewable companies targeting 100 gigawatts (GW) of solar and wind assets by 2030, CEO Mohamed Jameel Al Ramahi told the Financial Times in an interview published on Monday.
Masdar sees having up to a 35% market share of the renewables power capacity in the Middle East by the end of the decade, 20% of Europe’s clean energy capacity, and up to 25% of the U.S. capacity, Al Ramahi told FT.
Asia will also be a significant part of Masdar’s portfolio, the executive added.
The company’s shareholders are Abu Dhabi’s oil giant ADNOC, Abu Dhabi’s sovereign investment company Mubadala, and state utility giant TAQA.
Masdar is on an investment spree to buy renewable assets worldwide, and this spending drive will continue, Al Ramahi told FT.
Last month, Masdar said it would buy renewable power developer Saeta Yield from Brookfield in a deal valuing the target company at $1.4 billion. Saeta Yield develops, owns, and operates renewable power assets in Spain and Portugal.
The deal would be one of the biggest renewable energy transactions in Spain, one of Europe’s top markets for renewables.
Earlier this year, Masdar also announced an agreement with Spain’s power firm Endesa to become a partner for 2.5 GW of renewable energy assets in Spain.
Masdar also signed in June a $3.5 billion (3.2 billion euro) deal to buy Greece’s Terna Energy in the largest ever energy transaction on the Athens Stock Exchange, and one of largest in the EU renewables industry.
In early October, the UAE firm closed the acquisition of a 50% stake in Terra-Gen Power Holdings II, one of the largest independent renewable energy producers in the United States.
In another strategic market, Masdar is advancing, in partnership with RWE, the Dogger Bank South offshore wind project in the UK, part of the larger Dogger Bank, which will be the world’s biggest offshore wind farm when completed.
By Tsvetana Paraskova for Oilprice.com
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