Country for PR: United Kingdom
Contributor: PR Newswire Europe
Monday, March 21 2022 - 18:00
Masdar announces 40% increase in clean energy capacity as part of its 2021 Annual Sustainability Report
ABU DHABI, UAE, March 21, 2022 /PRNewswire-AsiaNet/ --

·  2021 Annual Sustainability Report reveals Masdar's global operating clean 
energy portfolio displaced close to 7.5 million tonnes of CO2 for the year 2021
·  Masdar extends its global footprint to over 40 countries as it prepares to 
further increase its capacity growth targets with new shareholders

Masdar, one of the world's leading renewable energy companies, continues to 
strengthen its support for global climate action, with the capacity of its 
clean energy project portfolio rising 40 percent in 2021. 

Despite the global pandemic, the electricity generation capacity of all 
projects Masdar has invested in – either installed or under development – 
increased from 10.7 gigawatts (GW) to over 15 GW in 2021, according to the 
company's 2021 Annual Sustainability Report. Masdar's operating clean energy 
portfolio displaced almost 7.5 million tonnes of CO2 last year, a 38 percent 
rise on 2020. 

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 honor 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." 

Last December, it was announced that three of the UAE's energy giants – ADNOC, 
TAQA and Mubadala – will partner under the Masdar brand to form a clean energy 
powerhouse with a combined current, committed, and exclusive capacity of over 
23 GW of renewable energy, with the ambition of reaching over 200 GW. 

"Masdar and our sustainability mission will scale even greater heights going 
forward. With our new shareholders and structure in place, we are looking to 
significantly grow our global clean energy capacity through the power of 
partnership. In doing that, we pledge to further strengthen our ESG credentials 
while increasing our contribution to the United Nations Sustainable Development 
Goals in line with the UAE's own efforts," added Al Ramahi.

The report, which covers Masdar's operations in the UAE and overseas, has been 
prepared in accordance with Global Reporting Initiative (GRI) Standards: Core 
Option. It discloses Masdar's impact in 2021, amidst the COVID-19 pandemic, 
examining KPIs across sustainable finance and innovation, environmental and 
social contributions, human capital, and governance.

During 2021, Masdar entered new markets including Azerbaijan, Armenia, Georgia, 
Greece, Iraq and Poland, extending its renewable energy investments to over 40 
countries with a combined value of more than US$20 billion. 

Masdar City, Abu Dhabi's only planned and approved R&D cluster and a leading 
hub for innovation, hit the milestone of more than 1,000 businesses operating 
in the Free Zone and achieved a 99 percent occupancy in commercial assets. The 
City also unveiled a number of research projects including the world's first 
solar/thermal energy storage-powered project to extract water from air by 
AQUOVUM, Khalifa University and Masdar, and the Azelio electrical thermal 
energy storage system technology that enables 24/7 clean energy utilization. 

Masdar also rolled out a number of initiatives in response to the pandemic 
including 24/7 PCR testing and accessibility to COVID-19 vaccines at Masdar 
City sites, to ensure the health, safety, and wellbeing of its staff, tenants, 
and partners.

To view Masdar's 2021 Annual Sustainability Report, please click here [ 

About Masdar
Abu Dhabi's renewable energy company, Masdar is advancing the commercialization 
and deployment of renewable energy, sustainable urban development and clean 
technologies to address global sustainability challenges. Wholly owned by 
Mubadala Investment Company, the strategic investment company of the Government 
of Abu Dhabi, our mandate is to help maintain the UAE's leadership in the 
global energy sector, while supporting the diversification of both its economy 
and energy sources for the benefit of future generations. Masdar's renewable 
energy projects are located in the UAE, Jordan, Mauritania, Egypt, Morocco, the 
UK, Serbia and Spain.

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Source: Masdar