{"id":74202,"date":"2022-10-04T01:58:03","date_gmt":"2022-10-04T01:58:03","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2022\/10\/04\/masdar-is-on-a-global-renewables-shopping-spree\/"},"modified":"2022-10-04T01:58:03","modified_gmt":"2022-10-04T01:58:03","slug":"masdar-is-on-a-global-renewables-shopping-spree","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2022\/10\/04\/masdar-is-on-a-global-renewables-shopping-spree\/","title":{"rendered":"Masdar is on a global renewables shopping spree"},"content":{"rendered":"

<\/a> UAE<\/strong>\u2019s <\/strong>Masdar<\/strong> is working on a massive global expansion through M&As:<\/strong> state-owned Abu Dhabi renewables giant Masdar<\/a> is planning on growing its renewables portfolio through a string of global acquisitions, Fawaz Al Muharrami, the company\u2019s acting executive director for clean energy, told The National<\/a> in an interview. \u201cIf there is a good [project] in Europe, in Apac [Asia-Pacific] [we] will be seeking to acquire those projects,\u201d he noted.<\/p>\n

Where does it have appetite? <\/strong>\u201cThe key focus will primarily be on renewables, mainly solar and wind, but we are also developing a waste-to-energy plant and [looking at] some geothermal projects \u2026 in the near future,\u201d Al Muharrami told the newspaper.<\/p>\n

Masdar already likes its geographic footprint \u2014 this is about going deeper: <\/strong>The company has assets in more than 40 countries, with a combined renewables capacity of 15 GW and investments worth USD 20 bn deployed, Al Muharrami noted. Most recently, the company signed<\/a>an agreement with Germany\u2019s RWE Renewables to explore wind projects, and is supplying Tanzania<\/a> with up to 2 GW of renewables capacity.<\/p>\n

Masdar\u2019s target: <\/strong>Growing its capacity to 100 GW over the next 10 years, Al Muharrami said.<\/p>\n

The company also has appetite in the region and at home<\/strong> through new partnerships and tenders. Masdar will \u201cdefinitely participate\u201d in Saudi Arabia\u2019s solar and wind tender announced last month<\/a>, Al Muharrami said. The company is also developing the 2 GW Al Dhafra solar power plant in Abu Dhabi, which it claims will be the world's largest solar plant. The plant is expected to be operational at the beginning of next year, he said.<\/p>\n

With a particular focus on green hydrogen: <\/strong>A consortium made up of Masdar and our friends at Hassan Allam Utilities<\/strong> signed an agreement in April<\/a> to establish green hydrogen plants that can produce up to 480k tons of green hydrogen a year in Egypt\u2019s Suez Canal Economic Zone. Masdar also signed<\/a> an agreement in January with our friends at Fertiglobe<\/strong> and France\u2019s Engie<\/strong> to co-develop a green hydrogen facility in the UAE.<\/p>\n

Appetite for growth is being driven by a shakeup of Masdar\u2019s shareholder structure over <\/strong>the summer: <\/strong>Abu Dhabi National Energy Company (Taqa) bought a 43% stake in Masdar\u2019s renewable energy business, while Abu Dhabi National Oil Company (Adnoc) acquired a 24% stake back in June<\/a>. \u201cWith new shareholders \u2026 Masdar is drafting a completely whole new strategy for the growth of the company,\u201d Al Muharrami added.<\/p>\n","protected":false},"excerpt":{"rendered":"

UAE\u2019s Masdar is working on a massive global expansion through M&As: state-owned Abu Dhabi renewables giant Masdar is planning on growing its renewables portfolio through a string of global acquisitions, Fawaz Al Muharrami, the company\u2019s acting executive director for clean energy, told The National in an interview. \u201cIf there is a good [project] in Europe, […]<\/p>\n","protected":false},"author":1,"featured_media":74203,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2016],"tags":[40,11,39,79,160,88,159,94,52,46],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-74202","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-egypt","tag-enterpriseclimate","tag-green-hydrogen","tag-ma-watch","tag-masdar","tag-renewables","tag-saudi-arabia","tag-solar","tag-uae","tag-wind-energy","wpautop","entry"],"acf":{"mongo_id":"9ec1ba65-0e77-4abe-9b7b-9b8cde98575d","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/10\/5228.jpg","photo_position":"above","related_issue":[74198],"teaser":"","voice_url":""},"yoast_head":"\nMasdar is on a global renewables shopping spree - 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