Masdar increases clean energy capacity to 31 . 5GW in 2023
Abu Dhabi Future Energy Company (Masdar) significantly expanded its clean energy capacity to 31.5GW in 2023, generating over 26,700GWh of clean energy and avoiding 14 million tonnes of CO2 emissions. This achievement is equivalent to removing almost 870,000 cars from the road. Masdar s annual Sustainability Report for 2023 showcases the company s growth and its role in supporting the UAE s climate action leadership. The report highlights the launch of Masdar s $3 billion Green Bond offering at the London Stock Exchange, aimed at unlocking investment in renewable energy worldwide. The company s sustainability impact has grown due to significant projects initiated in 2023, including milestone projects in Indonesia, Saudi Arabia, the UAE, Egypt, and Azerbaijan. Notable achievements include the inauguration of Al Dhafra Solar PV, the world s largest single-site solar power plant in the UAE, and the country s first wind project added to the national power grid. Additionally, Southeast Asia s largest floating solar plant, the 145MW Cirata plant, came online. Mohamed Jameel Al Ramahi, Masdar s CEO, emphasized the company s commitment to strong Environmental, Social, and Governance (ESG) practices, as reflected in its Sustainable Fitch rating of 2 and entity score of 71. Masdar became the first EMEA corporate to receive the Sustainability PurePlayer Label for its environmental advancements. The report also showcases Masdar s role in advancing the UAE s energy transition, with milestones supporting the tripling of global renewable energy capacity as part of the UAE Consensus reached at COP28. Masdar has developed and partnered in projects in over 40 countries across six continents, with a clear mandate to increase its renewable energy portfolio capacity to 100GW by 2030. In summary, Masdar s 2023 Sustainability
Source: tradearabia.comPublished on 2024-10-04
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