Masdar raises $1 billion with second green bond
Abu Dhabi-based Masdar has raised $1 billion through a new bond issuance. It says the investment will fund equity commitments on new greenfield projects, several of which are in developing economies.
Masdar buys out Greece’s Terna Energy in €3.2 billion deal
Masdar has agreed to acquire initially 67% of Greece’s Terna Energy, a developer of clean energy infrastructure, in a €3.2 billion ($3.4 billion) deal.
Azerbaijan gives green light to 760 MW of solar
Azerbaijan has approved the construction of two new solar plants totaling 760 MW in the southeastern part of the country. Abu Dhabi Future Energy Co. (Masdar) will oversee the development of the projects.
EDF, KOWEPO, Masdar to develop 1.5 GW of solar in UAE
France’s EDF Renewables, South Korea’s Korea Western Power Co. (KOWEPO), and Abu Dhabi Future Energy Co. (Masdar) have agreed to jointly design, finance, build and operate a 1.5 GW solar project in the United Arab Emirates, under a power purchase agreement (PPA) with Emirates Water and Electricity Co. (EWEC).
Egyptian solar set to expand beyond the massive 1.8 GW Benban PV project
In this edition of the Weekend Read, we turn to Egypt. The gigawatt-scale Benban project showcases the North African country’s solar potential, and premium prices for gas exports make the case for a more diverse energy mix. A nation with grand renewables targets – but slow installation rates – may finally be weaning itself off fossil fuel resources.
EDF, KOWEPO to bid for 1.5 GW solar project in UAE
Korea Western Power Co. (KOWEPO) and EDF Renewables have signed a joint development agreement for a 1.5 GW solar farm in Khazna, United Arab Emirates (UAE). The partners are already in advanced discussions with Abu Dhabi’s Emirates Water and Electricity Co. (EWEC) for a project of the same size in the Al-Ajban region.
Masdar to roll out 1 GW of PV, wind in Azerbaijan
Masdar, the Abu Dhabi-based utility-scale PV project developer, has signed contracts to develop three solar and onshore wind projects in Azerbaijan, with a total capacity of 1 GW.
Indonesia’s largest floating solar plant to expand to 500 MW
Abu Dhabi-based Masdar and PLN Nusantara Power, an Indonesian state-owned electricity generator, have agreed to more than triple the size of the Cirata floating PV power plant in West Java so it can generate 500 MW.
Solar proves common thread among Zayed Sustainability Prize winners
The opening ceremony of Abu Dhabi Sustainability Week 2023 was not short of inspirational rhetoric, but the winners of the Zayed Sustainability Prize provided some real-world examples of what action on the local level really looks like.
UAE energy summit serves as a trial run for COP28
The United Arab Emirates is treating Abu Dhabi Sustainability Week, which includes the World Future Energy Summit, as a trial run before the nation hosts the COP28 climate talks in November.
