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Middle East To Have Masdar As The Powerhouse | |
| Sumita Pawar |
"As the global energy transition accelerates and the UAE hosts COP28, the global spotlight will inextricably return to the country's pioneer and face of clean," according to the report.
For nearly two decades, Abu Dhabi’s flagship clean energy company, Masdar, has built a reputation of thriving on speculation and then hatching opportunities from that same speculation.
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To put it into perspective, according to the report, Masdar, a country rich in hydrocarbon resources, turned to the sun for power generation.
In its bid to support global decarbonization, Masdar is bringing the same energy and optimism to fast-track a hydrogen economy.
"Just like we proved to the world that renewable energy will work, we are going to show that green hydrogen is the new reality of life," Mohamed Jameel Al Ramahi, Masdar’s chief executive officer, said last month at the Abu Dhabi Sustainability Week (ADSW).
"Our role is to help the global community serve its mandate towards global net zero initiatives. Because of this, you will be hearing a lot about green hydrogen and about Masdar.
Masdar has embarked on a very ambitious journey that will not only expedite its geographical expansion but also enormously uplift its clean energy infrastructure portfolio, according to the report.
Last year, Abu Dhabi National Energy Company (TAQA), Mubadala Investment Company (Mubadala), and Abu Dhabi National Oil Company (ADNOC) completed a transaction that will see them become shareholders in Masdar.
According to the report, the three companies are set to combine efforts to rapidly grow Masdar into a global powerhouse with an expanded mandate covering renewable power, green hydrogen, and other enabling clean energy technologies.