Masdar + Bapco partner on wind projects: UAE's renewables giant Masdar and Bahrain's state-owned energy investment firm Bapco Energies signed an agreement to explore developing up to 2 GW of wind projects in Bahrain, according to a statement. The agreement focuses on near-shore and offshore wind farms for Masdar's inaugural project in Bahrain.

The move marks Masdar’s first entrance into Bahrain’s wind sector, and will stand as the region’s first offshore wind facility once completed. No timeline or financial details were disclosed.

Masdar is active in the region: Masdar, Hassan Allam Utilities, and Infinity Power are set to start construction on their 10 GW wind farm in Egypt in 1Q 2025. Once completed, the plant will be the country’s largest wind energy project to date. Masdar was also looking to acquire a stake in Turkey’s top wind power producer Fiba Yenilenebilir Enerji in September but is currently stalled over a price dispute.

And its international portfolio is shaping up: As part of its plans to expand its global presence, Masdar has reached financial close on EUR 488 mn in funding to secure its 49% acquisition of the 476 MW Baltic Eagle wind farm last month. The UK granted Masdar, Equinor, and China Resources Power development consent for the Dudgeon Extension, an expansion of the existing 402 MW Dudgeon offshore wind project last week. Masdar owned 35% of the wind farm. Masdar connected its 500 MW Zarafshan wind farm to Uzbekistan’s electricity grid in January.

Bapco is also on a green path: Bapco Energies has unveiled a green transition finance framework, the first in the region to do so, which outlines plans to secure funding for renewable energy, carbon capture and storage, no/low emissions fuels, and energy efficiency projects in January. The Bahraini firm also launched its ESG-linked finance framework last year, with targets to push down scope 1 and 2 emissions from 2017 levels by 15% by 2025, 25% by 2030, 50% by 2040, and 75% by 2050 in a bid to achieve carbon-neutrality by 2060.

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