Masdar, Abu Dhabi Future Energy Company, has signed a Memorandum of Understanding (MOU) with the Argentinian province of Jujuy to establish mutually beneficial solar energy cooperation.
HE Gerardo Rubén Morales, Governor of the Province of Jujuy, Argentine Republic, and Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, signed the agreement during Abu Dhabi Sustainability Week (ADSW) 2018.
Having charted a course towards comprehensive renewable energy in 2017 during its "Year of Renewable Energy", Argentina – which holds the G20 presidency for 2018 – is a fitting reference point for this year’s ADSW theme of “Driving the Global Energy Transformation”. Its energy transition, specifically in the field of solar energy, is being embraced by the province of Jujuy, which is home to some of the world’s highest solar irradiation levels and is targeting 3GW of solar power deployment.
Masdar and Jujuy will identify potential investment opportunities within the province aimed at developing utility-scale, grid-tied solar power projects. Additionally, the partnership will leverage Masdar’s vast experience as Jujuy looks to build a knowledge-based economy.
“Jujuy is a resource rich territory,” said Morales. “We have one of the best irradiation levels in the world and the province forms part of the lithium triangle. All of our strength is aimed at generating the conditions to attract investment for the development of green energy clusters and technology research.”
According to the Argentine Secretary of Mining and Ministry of Energy and Mining, the province of Jujuy is home to abundant lithium resources, with a current production capacity of 17,500 tonnes of lithium carbonate and predicted production of 90,000 tonnes in 2020. These resources have resulted in the establishment of two institutes – the Renewable Energy and Energy Efficiency Institute and the Lithium Institute – aimed at technology and industrial development, research and renewable energy solutions.
“As we embark on the Year of Zayed, the relationship that is being established through this agreement is a testament to the vision of the UAE leadership, as it serves as an example of how a UAE-headquartered company can leverage its experience to advance sustainable investment opportunities in a new market that is working to transform its energy system for the benefit of future generations,” said Al Ramahi.
Today, Masdar is active in more than 20 countries worldwide. The total capacity of the renewable energy projects, either operational or under development, in which it is a partner is around 3GW.
Masdar is showcasing its latest renewable energy developments at Abu Dhabi Sustainability week from 13-20 January 2018.