Future renewable energy projects by Masdar Target Morocco, Jordan and Egypt on clean energy projects
Due to the demand for clean energy expecting to double in the region by 2030, Masdar, the Abu Dhabi based clean energy company owned by Mubadala group is interested in investing into new ventures in Morocco, Egypt and Jordan( as they are the key markets) in the coming years. The rise in demand mostly stems from renewable energy which is why the company’s expansion plan will mainly be focusing on both solar and wind. Solar power has been given a lot of focus in the Middle East due to the regions having a lot of sunlight. However, countries within the Middle East also have impressive wind power assets. The government’s interest has been increasing due to the price of wind technology decreasing over the past five years by 30 per cent.
In December 2015, a major wind project was launched by Masdar in Jordan. A joint venture between Masdar, inframed and EPGE will account for 6.5 per cent of the country’s renewable energy target 1.800 megawatt (MW) that is set for 2020. The project that will produce 117MW of renewable energy will help reduce Jordan’s carbon emission by 235,000 per year and will create sufficient electricity that will be able to power 83,000 homes. As the cost of energy is relatively high in Jordan, Masdar’s investments in their wind projects and any future projects will help create savings for the government.
Morocco is another country of interest as they are known as one of the most mature markets in the region and has set out to reach up to 52 per cent more renewable energy by 2030. Masdar has a solar project in Morocco that currently provides 17,700 homes with solar power.
Discussions of bringing projects to India have been made with the Indian government as UAE and India have a long –standing trading partnership.
Masdar has been able to successfully deliver almost 1 gigawatt of clean power in the United Arab Emirates and many countries worldwide by committing more than $1.7 billion to renewable energy developments and innovation. The company is in partnership with Statoil and Statkraft, and is currently working on Dudgeon Offshore Wind Farm Project in the United Kingdom with them in order to decrease carbon emissions by 893,000 tonnes per year and be able to produce electricity to power more than 410,000 homes in UK.
The company has projects in the UAE, Seychelles, Samoa, Spain, United Kingdom, Oman, Mauritania and other countries.