Renewable energy portfolio expands to 2.7-gigawatts (GW) of generating capacity either deployed or under development in tenth year of operations
Dubai, UAE, 5 October, 2016 – Masdar, Abu Dhabi’s renewable energy company, is on track to achieve double-digit annual growth in its clean energy portfolio between now and 2020, in line with industry demand, with a pipeline of ambitious projects underway in both solar and wind.
Masdar will showcase how it is leading the adoption and commercialisation of renewable energy and clean technologies in the Middle East & North Africa at the 18th annual Water, Energy, Technology and Environment Exhibition (WETEX) to be held from 4-6 October in Dubai.
Bringing together key regional and global leaders, this year’s exhibition will be the largest display of clean-tech solutions in the event’s history.
As a Strategic Sponsor of WETEX 2017, Masdar will host a purpose-built stand to promote its growing international clean energy portfolio, while its leadership team will address conference delegates on critical issues such as mobilising further clean-tech investment, innovation in solar energy, and the viability of clean energy storage.
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar; Bader Al Lamki, Executive Director of Clean Energy; and Abdul Aziz Al Obaidli, General Manager of Shams Power Company, will each speak at the event.
Coinciding with its 10-year anniversary, Masdar’s participation in WETEX comes at a time of growth across the company’s clean energy portfolio. Since 2006, Masdar has developeda gross power generating capacity of 2.7 gigawatts (GW),either currently in operation or under development.
Masdar CEO Mohamed Jameel Al Ramahi said: “Our participation in WETEX reflects Masdar’s mission to lead renewable energy development; the event is a valuable platform to share insights with representatives from the solar, water, energy and environment industries. Our goal over the next decade is to make clean energy an essential part of the global energy mix.”
In June, a Masdar-led consortium was selected by Dubai Electricity and Water Authority (DEWA) to develop the 800-megawatt (MW) third phase of the Mohammed Bin Rashid Al Maktoum Solar Park in Dubai, quoting what was a record-low tariff for photovoltaic electricity generation of 2.99 US cents per-kilowatt-hour (kWh).
The project with DEWA is a testament to the success of Masdar and a reflection on the growing maturity of the MENA renewable energy market which is set to attract US$35 billion of renewable energy investments every year by 2020, according to the International Renewable Energy Agency.
“Masdar is proud of its ongoing partnership with DEWA as we continue to work together to implement the world-class Dubai Solar Park project. We are excited to bring our expertise to such a prestigious exhibition as WETEX,” Al Ramahi added.
As the Middle East’s largest exporter of renewable energy, Masdar is a leading developer and operator of utility-scale grid-tied projects; applications providing energy access to communities away from the electricity grid; and carbon abatement projects. Masdar’s renewable energy projects span Abu Dhabi, Oman, Jordan, Mauritania, Egypt, Morocco, the UK, Spain, the Republic of Seychelles, and the Pacific Islands.
Masdar has reached a number of clean technology milestones in the last year in the UAE and international markets. These include launching a cutting-edge seawater desalination pilot programme in Ghantoot, Abu Dhabi; the successful completion of the UAE-Pacific Partnership Fund programme to install solar and wind projects in 11 Pacific Island countries; the completion of long-term financing to build the 402MW Dungeon Offshore Wind Farm in the United Kingdom; the delivery of 30MW of utility-scale clean energy projects and 7,000 solar home systems in rural Egypt; and the start of construction of a 16.6MW solar power plant network in the Islamic Republic of Mauritania, following the unveiling of a 15MW photovoltaic array in the country in 2013.
Masdar's programme to deliver 17,670 solar home systems to 940 remote villages in Morocco in partnership with the country’s Office National de l’Electricité et de l’Eau Potable is also approaching completion.
Under the theme of ‘At the Forefront of Sustainability,’ WETEX 2016 will showcase new technologies, products and solutions in the water, energy, and environment sectors.