Masdar energy portfolio grows by 33% in 2018

Jack Unwin 11 March 2019 (Last Updated July 23rd, 2020 08:12)

United Arab Emirates-based renewable energy company Masdar announced that its renewable energy portfolio grew by 33% in 2018.

Masdar energy portfolio grows by 33% in 2018
Masdar announced that its renewable energy portfolio grew by 33% in 2018. Credit: Antonio Garcia on Unsplash.

United Arab Emirates-based renewable energy company Masdar announced at the Intersolar Middle East 2019 conference last week that its renewable energy portfolio grew by 33% in 2018.

Masdar director of business growth Yousif Al Ali said the company’s total renewable energy capacity grew to 4GW, with projects under development in 25 countries. The company has invested $12bn in renewable projects with total electricity production of its solar and wind projects standing at 10,680 GWh annually, displacing 5.4 million tonnes of CO2 per year.

Masdar is working with EDF Renewables on Phase 3 of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai. The park will be the world’s largest single-site solar park when complete, delivering a 5GW capacity and featuring innovations including robots that clean the solar panels without using water and half-cut and bi-facial solar cell technology.

Masdar is also building Jordan’s largest solar power plant, the 200MW Baynouna Solar Energy Project, which will power 160,000 homes and displace 360,000 tonnes of CO2 when completed in 2020.

Al Ali said: “Masdar has been a catalyst for the renewable energy sector in the Arab world and beyond. We delivered the region’s first solar photovoltaic plant, the 10MW solar plant in Masdar City, and the region’s first concentrating solar power (CSP) plant, the 100MW Shams 1 in Abu Dhabi, which is celebrating its six-year anniversary this month.

“We look forward to continuing our support for the energy transition in the region, which is set to see a major acceleration in renewable energy deployment, as we aim to significantly grow our portfolio and expand our global footprint in the years ahead.”