Philip Haddad moves up to lead XRG Americas as Masdar hands its US platform to Khaleefa Al Mheiri

Khaleefa Al Mheiri (LinkedIn), Masdar’s acting chief operating officer, will become president and CEO of Masdar Americas, effective 19 October, according to a LinkedIn post. He replaces Philip Haddad, who moved to lead XRG’s Americas business. Haddad stays linked to Masdar through a board seat at Terra-Gen, the US renewables platform Masdar took a 50% stake in 2024.

Why it matters: Both Abu Dhabi firms have big US ambitions, though XRG’s mandate is a little more diversified than Masdar’s renewables-only focus. Masdar plans to develop a portfolio of up to 25 GW in the US within the next decade. It already has a 1.1 GW pipeline of renewables projects with EDF Power Solutions, along with projects across the US and a 4.2 GW portfolio of projects at Terra-Gen. Meanwhile, the Americas business of XRG — Adnoc’s global energy and industrial investment arm — includes an equity stake across all five Rio Grande LNG trains in Texas, a 32% stake in Argentina’s Vaca Muerta basin, and — as of last month — an equal-interest stake in Venezuela’s offshore Loran gas field alongside BP and Qatar’s UCC Oil and Gas.

BACKGROUND- Al Mheiri joined Masdar as director of portfolio management in August 2023 before moving to the acting COO role. He spent close to two decades before that across Adnoc — including as acting CEO of Ta’ziz and senior VP of its oil and chemicals business — the Abu Dhabi Department of Economic Development, and Borouge.