Masdar's clean energy portfolio increases to 20 GW in 2022

Abu Dhabi Future Energy Company, better known as Masdar, said today that its clean energy portfolio increased by 33% during 2022 to reach 20 GW.

The portfolio includes projects that are in operation, under construction or secured around the world, representing a combined value of more than USD 30 billion (EUR 27.7bn).

The company’s sustainability report for 2022 also showed that Masdar generated 18,000 GWh of clean energy and displaced 10 million tonnes of carbon dioxide (CO2) last year. It further emphases the launch of a Green Finance Framework to guide the firm’s future financing activities, including plans to become an issuer of Green Bonds.

Chief executive Mohamed Jameel Al Ramahi said that in 2022 Masdar “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.”

"As the UAE prepares to host COP28, we are keen to collaborate with all parties to help the world triple renewable energy capacity by 2030 and achieve the goals of the Paris Agreement,” stated Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, chairman of Masdar and COP28 President-Designate.

(USD 1 = EUR 0.925)

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