Masdar
TypeSubsidiary of State-owned enterprise
Industryrenewable energy, clean technology, Green hydrogen[1]
Founded2006 (2006)
Headquarters
Abu Dhabi
,
United Arab Emirates
Key people
OwnerAbu Dhabi National Oil Company, Mubadala Investment Company , Abu Dhabi National Energy Company[2]
Websitehttp://www.masdar.ae/

Masdar (Arabic:مصدر‎), also known as the Abu Dhabi Future Energy Company, is a United Arab Emirates state-owned renewable energy company. It was founded in 2006 as a subsidiary of the UAE state-owned Mubadala Investment Company. Masdar has worked to deflect criticisms of the UAE, a major fossil fuel producer, and defend the country's environmental record.[3][4]

History

In 2006, the UAE government established Abu Dhabi Future Energy Company PJSC (Masdar) to diversify the entire resources and boost the local economy.[5][6]

Masdar has invested in one of the world’s largest concentrated solar plant Shams 1,[7] and offshore wind farms the London Array.[8] Masdar continues to support renewable energy, climate action, and domestic and international sustainability through various initiatives it has taken locally and internationally.[9][10]

Ahmed Al Jaber is the chairman of Masdar,[11] as well as a member of the UAE Federal Cabinet.[12] Al Jaber’s history with Masdar began in 2006, when he was appointed as the founding CEO.[13][14] In 2009, he oversaw Masdar’s efforts to secure the presence of the International Renewable Energy Agency (IRENA) headquarters at Masdar City, delivering the successful bid in South Korea.[15]

Masdar City

Masdar City is a sustainable urban development project that was launched by the Abu Dhabi future energy company Masdar in 2008,[16] located in Abu Dhabi in the United Arab Emirates,[17][18] and was designed to be a zero-carbon city by 2016. The city is powered in part by the Masdar City 10MW Solar Power Plant, the first grid-connected renewable energy project in the UAE and the largest of its kind in the Middle East when inaugurated in 2009. An additional 1MW of rooftop PV is located on the buildings developed as phase 1 of Masdar City.[18][19][20][21]

Masdar City has a university for artificial intelligence (AI), which was launched 2019. The Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) is a graduate-level research institution, named after Sheikh Mohamed bin Zayed.[22][23][24][25][26][27][28][29]

In December 2022 it was announced that the Abu Dhabi National Energy Company PJSC (TAQA), Mubadala Investment Company (Mubadala) and Abu Dhabi National Oil Company (ADNOC) would partner under the Abu Dhabi Future Energy Company (Masdar) brand to form a global clean energy powerhouse focused on renewable energy and green hydrogen . As per the new shareholder structure, Masdar City would be under Mubadala's ownership.[30][31][32]

Dogger Bank Wind Farm

On 1 December 2023, it was agreed that Masdar would part of an £11 billion investment in the UK's Dogger Bank wind farm project.[33] The agreement was made at the COP28 summit that was held in Masdar's native Dubai.[33]

References

  1. ↑ "UAE's ADNOC, Taqa and Mubadala complete Masdar stake deal". www.cnbc.com. 26 April 2022. Retrieved 2023-05-18.
  2. ↑ "UAE's ADNOC, Taqa and Mubadala complete Masdar stake deal". www.reuters.com. 8 December 2022. Retrieved 2023-04-24.
  3. ↑ Kerr, Simeon; Mooney, Attracta; Temple-West, Patrick (2023-08-12). "UAE-owned company hires lobbyists to deflect climate talks criticism". Financial Times.
  4. ↑ Joselow, Maxine (2023-08-11). "Host of U.N. climate summit moves to 'counteract all negative press'". Washington Post. ISSN 0190-8286.
  5. ↑ "Masdar Initiative Supports Clean Energy | UAE Embassy in Washington, DC". Masdar Initiative Supports Clean Energy | UAE Embassy in Washington, DC. Retrieved 2023-01-24.
  6. ↑ "Mohamed bin Zayed Launches Abu Dhabi Powerhouse to Develop World-Leading Portfolio in Clean Energy". www.mediaoffice.abudhabi. Retrieved 2023-01-24.
  7. ↑ "Shams continues to contribute to UAE's clean energy transition". www.gulftoday.ae. Retrieved 2023-01-24.
  8. ↑ Bouyamourn, Adam (2014-09-23). "Masdar buys stake in one of the world's biggest offshore wind farms". The National. Retrieved 2023-01-24.
  9. ↑ "H.E. Dr. Sultan Ahmed Al Jaber - India Energy Week | February 2024". www.indiaenergyweek.com. Retrieved 2023-02-21.
  10. ↑ "Dr. Sultan Ahmed Al Jaber is President-Designate for the 28th Conference of the Parties (COP28)". www.cm-today.com. Retrieved 2023-02-21.
  11. ↑ "Mubadala Announces New Chairman and CEO of Masdar | Mubadala". www.mubadala.com. Retrieved 2023-02-21.
  12. ↑ "Members Of The Cabinet". uaecabinet.ae. Retrieved 2023-02-21.
  13. ↑ "Abu Dhabi programme drives adoption of solar power". gulfnews.com. February 2007. Retrieved 2023-02-21.
  14. ↑ "Masdar Initiative Supports Clean Energy | UAE Embassy in Washington, DC". Masdar Initiative Supports Clean Energy | UAE Embassy in Washington, DC. Retrieved 2023-02-21.
  15. ↑ Staff Writer. "UAE submits bid for IRENA HQ".
  16. ↑ "Work starts on Masdar city". Arabianbusiness.
  17. ↑ Corporate Spotlight usuaebusiness.org
  18. 1 2 tlemke (2015-07-30). "What We Can Learn From Masdar City". U.S. Chamber of Commerce Foundation. Retrieved 2021-06-30.
  19. ↑ Name (2021-04-14). "Gulf states turn from oil to embrace the energy transition". Investment Monitor. Retrieved 2021-06-30.
  20. ↑ Developing renewable energy projects pwc.com
  21. ↑ Sankaran, Venkatanarayanan; Chopra, Ashok (2020). "Creating Global Sustainable Smart Cities (A Case Study of Masdar City)". Journal of Physics: Conference Series. 1706 (1): 012141. Bibcode:2020JPhCS1706a2141S. doi:10.1088/1742-6596/1706/1/012141.
  22. ↑ "World's first artificial intelligence university to open in Abu Dhabi". The National. 16 October 2019. Retrieved 2021-07-06.
  23. ↑ Network, Viet Nam News/Asia News (2019-10-18). "Abu Dhabi unveils world's first Artificial Intelligence university". INQUIRER.net. Retrieved 2021-07-06.
  24. ↑ "Abu Dhabi announces establishment of the Mohamed bin Zayed University of Artificial Intelligence". Csr Egypt. 2019-10-17. Retrieved 2021-07-06.
  25. ↑ "Abu Dhabi launches world's first University of Artificial Intelligence". The Manufacturer. Retrieved 2021-07-06.
  26. ↑ "World's first AI university announced in Abu Dhabi". Education Technology. 2019-10-17. Retrieved 2021-07-06.
  27. ↑ Nagraj, Aarti (2019-10-16). "Video: Abu Dhabi launches world's first AI university". Gulf Business. Retrieved 2021-07-06.
  28. ↑ "The world's first University of Artificial Intelligence has launched in Abu Dhabi". AMEInfo. 2019-10-17. Retrieved 2021-07-06.
  29. ↑ "UAE launches 'world's first AI university' with 100% scholarships". The Week. Retrieved 2021-07-06.
  30. ↑ "UAE's ADNOC, Taqa and Mubadala complete Masdar stake deal". Reuters. 8 December 2022.
  31. ↑ "Mohamed bin Zayed Launches Abu Dhabi Powerhouse". Adnoc.
  32. ↑ "Taqa, Adnoc, Mubadala complete transaction for stake in Masdar". www.gulftoday.ae.
  33. 1 2 "Sunak wraps up 11-hour Cop28 trip with new deal for UK wind farm". The Independent. 1 December 2023. Retrieved 1 December 2023.
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