The cost competitiveness of clean energy is accelerating the transition to clean energy, Yousif Al Ali, Executive Director, Clean Energy, stated during a keynote speech at the virtual Asian Clean Energy Summit, which took place last week.
“Masdar has played a significant role in this process, having set a number of benchmarks for electricity tariffs and for new technical solutions that respond to specific energy needs of our clients,” Al Ali said.
Acknowledging the impact of COVID-19, Al Ali discussed how renewable energy has proven to be more resilient than other energy sources and this will be bolstered by investment by governments around the world as they invest in stimulus and recovery packages to build back better.
Highlighting Masdar’s portfolio in the ASEAN region, Al Ali stated that “Masdar has an ambitious program to deploy capital into renewable energy across the Asia Pacific region, and we see potential for solar, onshore and offshore wind, storage, and waste to energy.”
Speaking about the importance that partnership will continue to play in Masdar’s support of advancing the energy transition across Asia, Al Ali highlighted recent investments made by Masdar in India and Australia.
“Masdar looks for growth through platforms and joint ventures, enabling us to work with local partners. Masdar always seeks commonality in partners, and we bring strong elements to any partnership, such as strong technical, EPC, finance and structuring skills,” he said.
Al Ali concluded that there was a need for the region to focus on sustainable growth by continuing its progress towards clean energy targets and a diversified energy mix.
“Asia – along with the rest of the world – stands at a pivotal moment, as countries look to reboot economies, accelerate clean energy transitions and move toward a more sustainable future.”
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