Masdar announced today that it maintained a positive trajectory over the course of 2020. Despite the challenges posed by the COVID-19 pandemic, through the year Masdar expanded its global footprint, increased the generation capacity of its portfolio, and added new tenants for Masdar City.
Masdar entered a number of key strategic markets through the year, with the company now being active in more than 30 countries across the globe. Having pledged at the beginning of 2019 to double its then 4-gigawatt energy portfolio within five years, Masdar will close 2020 with a total generation capacity of almost 11GW.
“While 2020 has proven to be a year like no other, I am proud to say that Masdar will begin 2021 in a stronger position than ever before,” said Mohamed Jameel Al Ramahi, Chief Executive Officer, Masdar. “Our success in exceeding our own targets both reflects the commitment of our dedicated employees around the world in this extraordinary time, and demonstrates that the pace of the energy transition is accelerating, as visionary nations like the UAE continue to drive sustainable development. We look forward to extending our global footprint further in 2021 and helping to support a sustainable recovery post-COVID-19.”
Key milestones reached in 2020 include:
Masdar will also begin 2021 with another notable first, as the company prepares to host the first virtual Abu Dhabi Sustainability Week (ADSW). The global platform for accelerating sustainable development has been reimagined as a virtual event, to help set the global sustainability agenda for the year ahead – a year when sustainability will be at the center of the post COVID-19 discussion.
As the first global event in the year of the UAE’s Golden Jubilee, ADSW will help galvanize further collaboration among government, business and community stakeholders to achieve the United Nations Sustainable Development Goals and deliver sustainable recovery.
The ADSW Summit, to be held on January 19, will, over three two-hour sessions, focus on the pillars of “Live & Move”, “Care & Engage”, and “Work & Invest”, with each pillar exploring social, economic and technological opportunities to achieve a ‘green recovery’ post COVID-19.
Alongside the ADSW Summit, ADSW will feature a series of high-level virtual events, including the IRENA Assembly, Abu Dhabi Sustainable Finance Forum, Atlantic Council Global Energy Forum, and the World Future Energy Summit Forums.
Masdar will also host the Youth Dialogue Week, which will bring young people from around the world together virtually to discuss how they can play a more active role in the implementation of both the United Nations Sustainable Development Goals and the UAE’s 50 Year Development Plan.