Masdar on track to become one of world’s largest renewable energy companies with huge increase in clean energy capacity

Masdar on track to become one of world’s largest renewable energy companies with huge increase in clean energy capacity

ABU DHABI, 18th May, 2023 (WAM) -- Abu Dhabi Future Energy Company (Masdar) has announced that it has nearly doubled its clean energy capacity and CO2 displacement in just two years and is on track to fulfil its ambition of becoming one of the world’s largest renewable energy companies by 2030.

According to the company's Sustainability Report, Masdar achieved a clean energy capacity of 20 gigawatts (GW) in 2022, generated 18,000 gigawatt-hour (GWh) of clean energy and displaced 10 million tonnes of CO2. The report, which covers Masdar’s global operations for 2022, also highlights the launch of a Green Finance Framework, as well as the company’s commitment to health and safety, and the achievements for programmes involving women and young people.

Commitment to climate action

The Sustainability Report provides clear evidence of the UAE’s commitment to climate action and its credentials as a clean energy champion as it prepares to host COP28 later this year. With significant agreements and projects in the pipeline, Masdar is set to play a major role in the overall success of the UAE’s Year of Sustainability in 2023.

In 2022, Masdar signed several significant agreements in new and existing markets including Uzbekistan, Azerbaijan, Egypt, Jordan, Kyrgyzstan, Turkmenistan, and Tanzania.