Masdar Marks 20 Years and Speeds Up Energy Transition

Tashkent, Uzbekistan (UzDaily.com) — Abu Dhabi Future Energy Company PJSC, Masdar, is marking its 20th anniversary, reinforcing its position as a global leader in renewable energy. Established on 23 April 2006, at the initiative of His Highness Sheikh Mohamed bin Zayed Al Nahyan through Mubadala Investment Company, Masdar was created to diversify the UAE’s economy and accelerate the global transition to clean energy.

Over two decades, the company has grown into one of the world’s largest developers and operators of renewable energy projects, with an installed capacity exceeding 65 GW. Masdar’s strategic objective is to reach 100 GW by 2030.

According to the company’s statement, when it was founded, the renewable energy sector was still in its early stages and faced significant skepticism. However, UAE leadership made a strategic decision to invest in the long-term energy future of the country.

Former Masdar CEO and UAE Minister of Industry and Advanced Technology Dr. Sultan Ahmed Al Jaber noted that in 2006, investment in clean energy was not seen as an obvious choice. He emphasized that the country’s long-term vision enabled it not only to participate in the sector’s development but also to help shape it.

Masdar CEO Mohamed Jameel Al Ramahi stated that the company’s growth has been driven by the UAE’s strategic foresight and early recognition of future demand for clean energy. Today, Masdar plays a central role in the global energy transition, delivering accessible and reliable electricity solutions.

The company’s early milestones include the launch of a solar power plant in Masdar City in 2009. Since then, it has developed major international projects such as the 2 GW Al Dhafra solar plant in the UAE, which can supply electricity to around 200,000 homes.

Masdar currently operates in more than 12 countries and employs over 1,100 people. Key projects include the Hywind Scotland floating offshore wind farm, the Cirata solar project in Indonesia, and the Zarafshan wind farm in Uzbekistan.

In 2022, Masdar’s ownership structure was updated with TAQA, Mubadala, and ADNOC becoming shareholders, reinforcing strategic support for its expansion. In recent years, the company has also strengthened its global presence through acquisitions in Spain, the United States, and Greece.

Masdar continues to develop advanced integrated energy solutions, including hybrid projects combining generation and storage. One such initiative is a 5.2 GW solar plant with energy storage capacity capable of delivering a continuous 1 GW supply, considered a model for future energy systems.

As part of its long-term strategy, Masdar plans to invest up to US$35 billion and add around 10 GW of new capacity annually, reaffirming its goal of reaching 100 GW by 2030.

The company continues to position itself as a key driver of the global energy transition, combining investment, technology, and international partnerships.