Masdar has been named ‘Innovator of the Future’ for the energy sector at the annual Arabian Business Awards, triumphing over a shortlist that also included Acwa Power, TAQA and ENGIE, in an event that the magazine described as the region’s “first-ever industry Oscars.”
As a pioneer in renewable energy solutions, Masdar’s “drive for a cleaner energy mix that is also commercially viable has the potential to unlock the energy transition in the region and beyond,” according to the Arabian Business judges.
The award is the latest accolade for Masdar, which last month received the coveted ‘Award of Excellence – Power’ at the S&P Global Platts Global Energy Awards 2021, one of the most prestigious awards for the global energy industry. Masdar was also recently named ‘Energy Company of the year’ for the third time at the Gulf Business annual awards.
Masdar has a 15-year track record of delivering, commercially viable, utility-scale renewable energy projects across the globe – covering almost 40 countries – and a portfolio covering solar, wind, waste-to-energy, mobility, energy storage, energy efficiency, desalination, green hydrogen, and sustainable urban development.
The company has more than doubled the capacity of its renewable energy portfolio within the last two years, today investing or committing to invest in projects with a combined value of more than US$20 billion. The capacity of projects in operation or under development is close to 14 GW, and combined they displace almost 19.5 million tonnes of CO2 per year.