Masdar reaches global clean energy capacity of 65GW

Masdar, the UAE state-owned renewable energy company, has reached global capacity of 65GW of clean energy as it heads towards its goal of 100GW by 2030.

The figure was revealed by chairman Sultan Al Jaber on Tuesday at the start of Abu Dhabi Sustainability Week.

Masdar, owned by Abu Dhabi’s Mubadala, Abu Dhabi National Oil Company and government holding company Taqa, has expanded rapidly through acquisitions and investments in renewable energy projects in Europe, the US and late last year in Austria.

The UAE has pledged to reach net-zero emissions by 2050 and is seeking to diversify its economy away from dependence on fossil fuels.

Al Jaber said the UAE had structured its economy to adapt to technological change, describing artificial intelligence as “no longer a tool we add at the margins” but “the operating system of our industrial strategy”.

Further reading:

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• Masdar appoints Chinese contractor for Oman solar plant
• Masdar to increase bond issuances to fund renewables push