Masdar Marks 20 Years, Targets 100 GW Renewable Energy Capacity by 2030

Masdar has completed 20 years of operations, underscoring its role in advancing renewable energy globally and outlining plans to expand its portfolio to 100 GW by 2030.

Masdar currently has a global portfolio exceeding 65 GW and has emerged as one of the largest renewable energy developers and operators. The company plans to add around 10 GW of capacity annually, backed by investments of  USD 30–35 billion in equity and project finance.

Sultan Ahmed Al Jaber said that the company’s early investments in renewable energy were driven by long-term vision despite limited scale and uncertain economics at the time. He noted that the UAE leadership identified the sector’s future potential well before it became mainstream.

Chief Executive Officer Mohamed Jameel Al Ramahi said that the company’s growth reflects the UAE’s strategic foresight in anticipating rising global demand for clean power and diversifying its energy mix.

Masdar’s first project was a grid-connected solar plant in Masdar City in 2009. Since then, it has delivered large-scale projects across multiple regions, including the 2 GW Al Dhafra solar plant in Abu Dhabi, the Hywind Scotland floating offshore wind project, the Cirata floating solar plant in Indonesia, and the Zarafshan wind farm in Uzbekistan.

In 2022, Masdar adopted a new ownership structure with TAQA, ADNOC, and Mubadala as joint shareholders to support its expansion strategy.

The company has also expanded through acquisitions, including Saeta Yield in Spain, a 50 percent stake in Terra-Gen in the United States, and TERNA ENERGY in Greece.

Masdar is currently developing a 5.2 GW solar project integrated with a 19 GWh battery energy storage system in Abu Dhabi in partnership with Emirates Water and Electricity Company. The project is expected to deliver 1 GW of continuous baseload power.

Additionally, Masdar has signed a USD 2.2 billion joint venture agreement with TotalEnergies to combine onshore renewable energy assets across nine countries in Asia.

The company said that it will continue to expand globally while advancing large-scale clean energy solutions to meet growing electricity demand.