Masdar News

Masdar and China Vanke Co. Ltd. Sign Memorandum of Understanding

13 Dec 2015 Press Release

Masdar, Abu Dhabi’s renewable energy company, and China Vanke Co. Ltd. (Vanke), the Masdar Institute, BGI and China Merchants New Energy Group Limited (CMNE) have signed a Memorandum of Understanding (MOU) for collaboration on potential projects in both the UAE and China. The signing took place during an Official Visit to the People’s Republic of China by His Highness Sheikh Mohammed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

The MOU, signed by HE Dr Sultan Al Jaber, UAE Minister of State and Chairman of Masdar and Wang Shi, Chairman of Vanke, supports the development of a long-term relationship between the companies based on a shared vision. With historically strong ties and a relationship of trust and respect, the UAE and China are solidifying these bonds by exploring new partnership opportunities across various industry sectors. Through the MOU, the companies are seeking to identify areas of mutual interest and the scope of potential mutual activities, laying a foundation for future collaboration between the signatories.

Dr Ahmad Belhoul, CEO of Masdar said, “Masdar has been at the forefront of the UAE’s efforts to deploy clean energy at home and abroad. International partnerships are key to the diversification of energy sources and to enhancing innovations that will deliver renewable technologies both for the UAE, the Middle East region and for China. This MOU and future potential collaborations represent significant steps in our two countries’ missions to secure long-term energy security and sustainable development. On behalf of Masdar, we look forward to this further expansion of economic relations with Chinese companies and China.”

“Vanke is a committed supporter for green buildings and other solutions that reduce the carbon footprint of urban areas. We value our partnership with Masdar and UAE companies because they bring a unique set of knowledge and expertise to this global innovation effort,” said Vanke Chairman Wang Shi. “This collaboration will open up new space for Vanke and Chinese industry to be inspired and activated.”

The main areas of potential cooperation include a joint R&D-focused real estate development between Masdar and Vanke in Masdar City, Abu Dhabi, and the pursuit of renewable energy power generation opportunities with CMNE.

The MOU also includes Masdar Institute, CMNE and BGI, a leading Chinese research institute, for collaboration on mutually-beneficial research, industrialisation and commercialisation projects in such areas as water/waste treatment, resource recycling, advanced materials, renewable energy intelligent systems, biotechnology applications in energy, robotic technology, and building/construction technology. As innovation and new knowledge is created between the partners in Masdar City's R&D cluster, it will be reinforced and developed into market-appropriate commercial applications.

Masdar Staff