Masdar, one of the world’s leading renewable energy companies and a subsidiary of Mubadala Investment Company, has been recognized as ‘Energy Company of the Year” for the third time at the prestigious Gulf Business Awards 2021, having previously won the award in 2016 and 2017.
The Gulf Business Awards recognize companies positively impacting and driving the GCC’s economic landscape, with companies being judged on criteria including innovation, growth, financial results, and corporate social responsibility. Niall Hannigan, Chief Financial Officer of Masdar, received the award in person at a gala ceremony, held on Tuesday evening at the Dubai International Financial Centre, attended by many of the top business leaders in the region.
Masdar’s victory in this award comes after the company more than doubled the capacity of its renewable energy portfolio within two years, with Masdar now investing in or committed to invest in projects with a total generation capacity of at least 13 gigawatts. Masdar City, Abu Dhabi’s only planned and approved research and development cluster, also continues to expand, with the City today home to more than 1,000 companies.
“Receiving this award once again is testimony to the commitment and efforts of our dedicated employees around the world and to the unstinting support of our shareholder, Mubadala Investment Company,” said Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar. “Masdar is proud to have played a key role in the UAE’s energy transition over the past 15 years, and today we are active in almost 40 countries around the world, helping nations achieve their climate objectives. In Masdar City, we have created a true greenprint for sustainable urban development, providing a hub for tech pioneers to innovate the solutions of tomorrow. I look forward to competing for this award again in 2022!”
The shortlist for the Energy Company of the Year award included many other leading energy companies. Gulf Business, which is celebrating its 25th anniversary this year, also presented awards to companies and business leaders within the sectors of banking, energy, healthcare, investment, real estate, retail, technology, transport and logistics, as well as tourism and hospitality.