Masdar marks 20 years in clean energy with production capacity exceeding 65 GW

Abu Dhabi Future Energy Company PJSC – Masdar is marking 20 years of leadership in renewable energy, highlighting its role in advancing renewable energy globally.

Founded by President His Highness Sheikh Mohamed Bin Zayed Al Nahyan on 23rd April 2006, through Mubadala Investment Company (Mubadala), Masdar was built with a clear mandate: diversify the UAE's economy and accelerate the global deployment of renewable energy.

Two decades on, Masdar is one of the world's largest renewable energy developers and operators, with a portfolio capacity exceeding 65 gigawatts (GW) and an ambitious target of 100GW by 2030.

Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and Masdar's founding CEO, said, "In 2006, investing in renewable energy wasn't the obvious call. It was the courageous one. Technologies were nascent. Scale was unproven. The economics hadn't yet turned. His Highness Sheikh Mohamed bin Zayed Al Nahyan saw not what renewables were, but what they could become. That distinction between what exists and what is possible is the difference between following a trend and setting one."

“Driven by His Highness' long-term vision and unwavering commitment, Masdar didn't ride the clean energy wave. We helped create it," he added.

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said that Masdar’s rise over the past 20 years has been driven by the UAE’s ambition and foresight, anticipating the rise in clean power demand and looking to diversify its economy early.

"Through partnership, innovation, and investment we have grown into a global business, driving the development and deployment of clean energy solutions worldwide. Today, with global electricity demand growing at pace, Masdar stands at the centre of a thriving international industry, delivering affordable, secure power to our partners around the world.”

Masdar's journey began with a single grid-connected solar plant in Masdar City in 2009. It has since delivered some of the most ambitious renewable energy projects ever built, including the 2GW Al Dhafra solar plant, the world's largest single-site solar facility upon its 2023 completion, powering around 200,000 UAE homes.

From a handful of employees in 2006, Masdar now employs over 1,100 people across 12 countries. Its portfolio spans continents and technologies: the world's first floating offshore wind farm (30MW, Hywind Scotland), Southeast Asia's largest floating solar project (145MW Cirata, Indonesia), and Central Asia's largest wind farm (500MW Zarafshan, Uzbekistan).

In 2022, Masdar entered its new ownership structure with Abu Dhabi National Energy Company (TAQA), Mubadala and Abu Dhabi National Oil Company (ADNOC) becoming joint shareholders, committed to accelerating Masdar’s growth.

Recent acquisitions — Saeta Yield in Spain, a 50 per cent stake in Terra-Gen in the United States, and TERNA ENERGY in Greece — have further cemented Masdar's position as a truly global clean energy powerhouse.

Now, Masdar is redefining the role of renewables. Alongside Emirates Water and Electricity Company (EWEC), it is developing the world's first gigascale integrated renewable energy project in Abu Dhabi: a 5.2GW solar plant paired with a 19 gigawatt-hour (GWh) battery system, delivering 1GW of uninterrupted baseload power. This is not just another project. It is a blueprint for the world, one Masdar is already exploring with global partners.

Masdar is continuing to look to drive global expansion and advance energy transformation worldwide. This month, Masdar signed a binding agreement with France’s TotalEnergies to establish a $2.2 billion 50/50 joint venture (JV) that will merge their onshore renewable activities in nine countries across Asia.

To fuel its next phase of growth, Masdar will deploy $30–35 billion in equity and project finance to reach 100 GW by 2030, adding an average of 10GW of new capacity every year.

 WAM