Masdar achieves 40% clean energy capacity boost in 2021

The electricity generation capacity of its projects, either installed or under development, rose from 10.7GW to more than 15GW last year

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Masdar has announced a 40% increase in clean energy capacity in 2021 as the UAE state-owned company expands its global footprint.

The electricity generation capacity of its projects, either installed or under development, rose from 10.7GW to more than 15GW last year.

Its operating clean energy portfolio helped displace almost 7.5 million tonnes of CO2 last year, a 38% rise on 2020.

Last December, three of the UAE’s energy giants – ADNOC, TAQA and Mubadala – announced they will partner under the Masdar brand to form a clean energy powerhouse with a combined capacity of more than 23 GW of renewable energy, with the ambition of reaching more than 200GW.

In 2021, Masdar entered new markets including Azerbaijan, Armenia, Georgia, Greece, Iraq and Poland, extending its renewable energy investments to more than 40 countries with a combined value of $20 billion (£15bn).

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar said: “Since we were founded in 2006, Masdar has been a key contributor to climate change mitigation and net zero efforts, both here in the United Arab Emirates and globally.

“In the year that the UAE unveiled its pioneering Net Zero by 2050 Strategic Initiative and was given the honour of hosting the COP28 climate conference, I am proud that we were able to continue our positive impact and help bring the UAE closer to its net zero carbon objectives.”