Masdar, the sustainable energy firm based in Abu Dhabi, has experienced an impressive near doubling of its clean energy capacity and carbon dioxide displacement within a span of two years, positioning itself on the path to accomplishing its ambition of becoming one of the leading renewable energy companies globally by 2030.
According to Masdar’s announcement on Thursday, the company reached a clean energy capacity of 20 gigawatts (GW) in 2022. Moreover, their efforts resulted in the generation of 18,000-gigawatt hours (GWh) of clean energy and the displacement of 10 million tonnes of CO2.
Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar and COP28 President-Designate, said: “In the past 17 years, Masdar became one of the world’s largest renewable energy investors and drivers of the energy transition. Our momentum will see us accelerate global clean energy growth, expand our renewable energy footprint, and play a vital role in delivering the UAE’s Net Zero by 2050 strategic initiative.”
Masdar, in a recent development, unveiled a green finance framework to provide a roadmap for future funding initiatives, including the issuance of green bonds. This framework prioritizes sustainability and adheres to industry best practices in the financial sector.
Alongside their green financing endeavors, Masdar’s Sustainability Report underscored their dedication to establishing themselves as a global leader in green hydrogen. Their ambitious plan involves producing up to 1 million tonnes of green hydrogen annually by 2030.
With a presence in over 40 countries spanning six continents, Masdar has demonstrated its active engagement on a global scale. The company has made significant investments, or committed to investing, in various projects worldwide, amounting to a combined value exceeding $30B.