Masdar today signed a framework agreement with Energias De Portugal (EDP), Portugal’s largest utility company, to explore opportunities to deploy large-scale renewable energy projects and promote renewables as source of foreign aid. The agreement was signed by Jorge Cruz Morais, director-general of EDP Internacional and H.E Dr. Sultan Al Jaber, CEO of Masdar, during the seventh World Future Energy Summit, a global platform that addresses the future of renewable energy and sustainable development in the Middle East and the world.
The framework outlines geographic opportunities for co-development – for both wind and solar power – in countries that have supportive regulatory frameworks. The cooperation will also explore projects to develop renewable power and improve energy access where it results in tremendous economic and social impact for developing countries. The areas of focus include Latin America, Africa, Middle East and Europe.
“This partnership lays the foundation for Masdar and EDP to work together and find commercially viable opportunities to deploy clean, reliable renewable energy,” said H.E Dr. Sultan Al Jaber, CEO of Masdar, Abu Dhabi’s renewable energy company. “It’s these types of collaborative efforts that enable us to diversify the global energy mix with sustainable power supplies.
“For developing countries, access to clean energy can play a vital role in securing a pathway for economic growth and social opportunity,” added Dr. Al Jaber. “We look forward to working with EDP and combining our expertise to deploy renewable energy projects.”
Recognized for the second consecutive year as the Dow Jones Sustainability index’s leading company in the electricity sector, EDP is the third largest developer of wind energy in the world and one of Europe’s leading energy companies.
Mr. Jorge Cruz Morais, director-general of EDP Internacional, said: “This cooperation agreement enhances the capacity of both parties for future development of large-scale renewable investments, while reinforcing the ability to promote sustainability and energy access for development countries.”
In 2013, Masdar added 750 megawatts of clean energy capacity to the global grid, completing projects in the United Arab Emirates, United Kingdom, Mauritania and Seychelles. Today’s cooperation lays the foundation for Masdar and EDP to accelerate the deployment of renewable energy globally.
Countries and regions of specific focus include: Mexico, Uruguay, Colombia, Peru, Chile, Panama, South Africa, Morocco, Saudi Arabia, Jordan, Scotland, Turkey and Baltic and Balkan regions.
WFES is a key element of Abu Dhabi Sustainability Week – a week-long global platform, which also includes the fourth International Renewable Energy Agency assembly, the second International Water Summit, the Zayed Future Energy Prize awards and the first ECOWaste exhibition.