Masdar is making the rounds at COP28: UAE renewables player Masdar is sweeping the circuit at the summit, inking on the dotted line to launch renewables projects in Europe, Central Asia, and Africa.

The company is widening its presence in the UK: Masdar signed an agreement with German energy company RWE to purchase 49% of RWE’s 3 GW Dogger Bank South offshore wind farms as part of its larger GBP 11 bn investment ticket into UK renewables, Wam reported on Friday. The acquisition will pave the way for Masdar and RWE to jointly co-develop the two offshore wind farms with construction starting as early as 2025, according to a RWE statement. The first 800 MW of electricity is planned to come online in 2029 with the aim to fully commission the projects by late 2031, the statement added. Closing of the agreement is subject to customary approvals and expected in 1Q 2024, Wam notes.

And expanding in Kazakhstan:The company signed a joint development agreement (JDA) with W Solar, Qazaq Green Power QGP — owned by Kazakh sovereign wealth fund Samruk-Kazyna — and the Kazakhstan Investment Development Fund to develop a 1 GW wind energy farm in the Central Asian country, Wam reported on Saturday. The project marks Masdar’s first entry into Kazakhstan. The financial details and a timeline for the project were not disclosed.

Then moved further south in Angola: Masdar also signed an agreement with Angola’s Energy and Water Ministry to develop a 150 MW onshore solar power plant in the Hulia province of the African country, Wam reported on Saturday. The financial details of the agreement and a timeline for the project was not disclosed. Once operational, the project is set to offset 224k tons of CO2 annually and provide enough clean power to some 90k households in Angola

Masdar has green ambition in Africa: The project falls in line with the UAE-led USD 10 bn Africa Green Investment Initiative, Wam notes. Masdar is planning to develop 10 GW of renewables projects in the continent by 2030 in a bid to provide clean electricity to 100 mn people by 2035. Back in January, Masdar inked two agreements to develop 3 GW worth of solar projects in Angola and Uganda and 4 GW worth of renewables projects in Zambia and Ethiopia.

OTHER MASDAR STORIES TO NOTE-

Boosted capacity for Indonesian floating solar project: Masdar and Indonesia’s state-owned PLN signed an agreement to proceed with plans to add up to 500 MW capacity to its Cirata 145 MW floating solar plant in Indonesia and to explore green hydrogen projects. (Statement)

An eye onGreece's green infrastructure: Masdar signed an agreement with the Greek Ministry of Environment and Energy to collaborate on a green infrastructure in Poros Island including renewable energy projects, decarbonising the island's vehicle fleet and maritime transportation, and waste management projects. (Wam)

10 GW worth of projects in Malaysia: Masdar signed an implementation roadmap with Malaysia to proceed with the development of 10 GW worth of clean energy projects including round-mounted, rooftop, and floating solar power plants, onshore wind farms, and battery energy storage systems. (Wam)

Scatecboosts Egypt green energy profile at COP28: Norwegian renewables developer Scatec inked a USD 1.1 bn agreement with the Suez Canal Economic Zone to supply ships with green fuel in east Port Said, according to a statement released yesterday. The green fuel’s 190 MW electrolyzer will be powered by 317 MW wind and 140 MW solar energy with a production target of 100k tons of green methanol annually by 2027.

And there’s more: The Norwegian firm also signed an agreement with the Egyptian Electricity Holding Company to establish a 1 GW solar and 200 MWh battery storage project in Egypt, according to a statement released on Saturday. The African Development Bank Group signed a letter of intent for the financing package of the project yet the value of the project wasn’t disclosed.

UAE’s Amea Power taps into Ethiopia wind energy market: UAE renewables company Amea Power signed an agreement with Ethiopia’s Finance Ministry to build a a USD 600 mn, 300 MW onshore wind power plant in the African country, according to a statement. The Aysha wind farm will span 18k acres, making it the country’s largest once operational. A timeline on when construction would begin on the plant was not provided.

And eyes Kenya’s geothermal sector: The UAE firm is also reportedly set to sign a USD 800 mn agreement with Geothermal Development Co. of Kenya to develop the 200 MW Baka geothermal energy generation plant in the African country, Asharq Business reported on Saturday, citing a source with knowledge of the matter. The expected timeline of the project and Amea’s stake in the venture was not provided. Back in September, Amea Power said it plans to establish a 1 GW green hydrogen plant in Kenya’s Mombasa port as part of a commitment to mobile USD 5 bn to finance development of several renewable energy projects in Africa that would yield a 5 GW power capacity by 2030.

OTHER STORIES WORTH KNOWING-

Acwa Power finalizes agreement on Kazakh wind farm: The Saudi renewables giant finalized its agreement to build a 1 GW wind power and battery energy storage project — which it signed a roadmap agreement for in June with Samruk-Kazyna — in Kazakhstan. The project is expected to cost USD 1.8 bn. (Reuters)

UAE + Philippines partner on mitigation efforts: UAE's Ministry of Climate Change and Environment signed an MoU with the Philippines Climate Change Commission to cooperate on mitigating the impacts of climate change, adaptation efforts, and preserving natural resources and biodiversity. (Statement)

The UN and UAE partner to accelerate the energy transition: Executive Secretary of the UN’s Framework Convention on Climate Change (UNFCC) Simon Stiell signed an agreement with the UAE’s Independent Climate Change Accelerators (UICCA) to expand cooperation on climate finance, carbon market development, green tech investments, and youth upskilling in the climate adaptation and green energy sectors. (Wam)

Tadweer + Aquagrain to debut waste to soil tech: UAE's Tadweer and the UK's Aquagrain will partner on an ADQ-backed USD 2.5 mn pilot project to deploy Aquagrain's soil enhancing tech which uses organic waste to grow crops in arid lands using 50% less water and inorganic fertilizers. The project will pave the way for the first-ever commercial scale Aquagrain production facility to be launched in Abu Dhabi. (Wam)

Opec Fund to partner with Irena + IAEA on climate action: The Opec Fund is expected to sign agreements during COP28 to support climate action and resilience in developing nations. It will partner with the International Atomic Energy Agency (IAEA), the International Renewable Energy Agency, and development banks to address climate-related challenges and food security. (Ahram Online)

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