Masdar, the UAE’s clean energy powerhouse, and China’s Silk Road Fund (SRF) have inked a Memorandum of Understanding (MoU) to dive into more co-investment opportunities in renewable energy projects across the Belt and Road Initiative (BRI) countries.
This strategic partnership, formalized at COP29, brings together two powerhouses with a shared vision for a greener future. Masdar, with its portfolio of renewable energy projects in the Middle East, Central Asia, Southeast Asia, and Africa, will collaborate with SRF, which boasts a renewable power portfolio exceeding 7GW in BRI regions.
Under the terms of the MoU, SRF will invest up to RMB 20 billion (approximately USD 2.8 billion) in projects alongside Masdar, marking an investment for the development of sustainable energy infrastructure. This collaboration is likely to have an impact on the global energy landscape, as the two parties work together to identify and capitalize on co-investment opportunities in emerging markets and the global south.
The BRI, a vast network of infrastructure and trade projects connecting Asia, Europe, Africa, and beyond, provides a framework for this partnership to grow. As a participant in the BRI, the UAE has already invested $10 billion in a joint China-UAE investment fund to support BRI projects in East Africa.
By collaborating, Masdar and SRF are to make a meaningful contribution to the realization of the United Nations’ vision for sustainable development. As the world continues to grapple with the challenges of climate change, this partnership serves as a beacon of hope for a more sustainable future, one powered by clean energy and international cooperation.
