Masdar offloads stake in Sharjah waste-to-energy plant as it shifts focus to renewables portfolio

Masdar has offloaded its stake in the Sharjah Waste-to-Energy (WtE) plant to Tadweer Group pending closing conditions, as the renewables giant shifts its focus to its international renewables portfolio, according to a statement. Tadweer will now become a partner in the JV operating the plant with Bee’ah Group. No financial details were disclosed for the transaction.

The rationale: Masdar wants to shift its focus to its core business and its goal of expanding its global renewables portfolio to 100 GW by 2030, the statement adds.

About the plant: The project, launched in 2022, was the first commercial-scale waste-to-energy plant in the Middle East. It processes some 300k tons of waste annually and has a capacity of 30 MW.

Next steps: Bee’ah and Tadweer will jointly own and operate the plant and advance plans to expand the project’s capacity, the statement adds. Masdar and Bee’ah agreed earlier this year to double the plant’s capacity to 60 MW, where it will double the processing capacity to 600k tons and offset some 1 mn tonnes of CO2 emissions annually.

Tadweer is gobbling up waste: The firm, which launched an AI-integrated waste management platform in Abu Dhabi to address the full waste lifecycle earlier this year, is exploring a pilot program with the Climate Change and Environment Ministry to pay consumers for discarded devices to encourage recycling electronic waste. It also signed an agreement with China’s SFECO Group to explore the development of a facility in Abu Dhabi to convert industrial solid waste into sustainable building materials.