Global clean energy company Masdar in its 2023 Sustainability Report, reflected its experienced expansion in both clean energy portfolios and solar and hybrid projects. Masdar in its report said the company’s progress in expanding its renewable energy capacity was31.5 gigawatts (GW) at the end of 2023.
The amount of clean energy generated by Masdar’s solar and wind projects stood at more than 26,700 gigawatt-hours (GWh) in 2023. As per the report, these projects helped save around 14 million tonnes of carbon dioxide equivalent or carbon dioxide for the year under review, from a little over 10 million the previous year. The company continues to expand as part of its bid to assist global carbon reductions.
One of Masdar’s flagship projects in 2023 was the opening of Al Dhafra Solar PV, the largest single-site solar power plant in the world in the UAE. A part of that effort was the commissioning of the first wind power project in the UAE. Masdar also unveiled Southeast Asia’s largest floating solar project named Cirata Floating Solar Plant in Indonesia, with a capacity of 145 MW. These projects represent new landmarks for the regions and support the clean energy initiatives of the company.
The report also states that Masdar had expanded in every possible international arena, having begun operations in Indonesia, Saudi Arabia, Egypt, and Azerbaijan. These expansions would enable Masdar to continue its contributions toward more efficient transition into renewables through large-scale renewable energy projects.
The middle east green arm also established a blueprint of a US$3 billion Green Bond program that would be used for the funding of additional renewable energy projects. Investments in the future, as unlocked by the $6 billion offering that listed on the London Stock Exchange, will unlock projects all over the world. The company, now bankrolled by the UAE’s energy firms TAQA, ADNOC, and Mubadala, would increase its renewable energy capacity to 100 GW by 2030.
