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{{Short description|Global renewable energy company}}
{{Short description|Global renewable energy company}}
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'''Masdar''' ([[Arabic language|Arabic]]:مصدر‎), also known as the '''Abu Dhabi Future Energy Company''', is an [[United Arab Emirates|Emirati]] state-owned renewable energy company. It was founded and chaired by [[Sultan Al Jaber]] in 2006 as a subsidiary of [[Mubadala Investment Company]]. The company offers clean energy development and sustainable urban development.<ref>{{cite web|url=https://www.bloomberg.com/profile/company/2673381Z:UH|title=Masdar Abu Dhabi Future Energy Co|publisher=Bloomberg|access-date=15 December 2023}}</ref><ref>{{cite web|url=https://www.devex.com/organizations/masdar-abu-dhabi-future-energy-company-21436|title=Masdar (Abu Dhabi Future Energy Company)|publisher=Devex|access-date=15 December 2023}}</ref> The company is responsible for development of [[Masdar City]], which is the headquarters of [[International Renewable Energy Agency]].
'''Masdar''' ([[Arabic language|Arabic]]:مصدر‎), also known as the '''Abu Dhabi Future Energy Company''', is a United Arab Emirates state-owned renewable energy company. It was founded in 2006 as a subsidiary of the UAE state-owned [[Mubadala Investment Company]]. Masdar has worked to deflect criticisms of the UAE, a major fossil fuel producer, and defend the country's environmental record.<ref>{{Cite news |last=Kerr |first=Simeon |last2=Mooney |first2=Attracta |last3=Temple-West |first3=Patrick |date=2023-08-12 |title=UAE-owned company hires lobbyists to deflect climate talks criticism |work=Financial Times |url=https://www.ft.com/content/6c207836-a26c-4960-888c-bea2890a2835}}</ref><ref>{{Cite news |last=Joselow |first=Maxine |date=2023-08-11 |title=Host of U.N. climate summit moves to ‘counteract all negative press’ |language=en-US |work=Washington Post |url=https://www.washingtonpost.com/politics/2023/08/09/host-un-climate-summit-moves-counteract-all-negative-press/ |issn=0190-8286}}</ref> Masdar also took part in greenwashing before and during the COP28 climate change conference which is being held in the UAE.<ref>{{Cite news |last=Stockton |first=Ben |date=2023-05-30 |title=Cop28 president’s team accused of Wikipedia ‘greenwashing’ |language=en-GB |work=The Guardian |url=https://www.theguardian.com/environment/2023/may/30/cop28-president-team-accused-of-wikipedia-greenwashing-sultan-al-jaber |access-date=2023-12-08 |issn=0261-3077}}</ref>


==History==
==History==
In 2006, the UAE government established Abu Dhabi Future Energy Company PJSC (Masdar) to diversify the entire resources and boost the local economy.<ref>{{Cite web |title=Masdar Initiative Supports Clean Energy {{!}} UAE Embassy in Washington, DC |url=https://www.uae-embassy.org/news/masdar-initiative-supports-clean-energy |access-date=2023-01-24 |website=Masdar Initiative Supports Clean Energy {{!}} UAE Embassy in Washington, DC |language=en}}</ref><ref>{{Cite web |title=Mohamed bin Zayed Launches Abu Dhabi Powerhouse to Develop World-Leading Portfolio in Clean Energy |url=https://www.mediaoffice.abudhabi/en/energy/mohamed-bin-zayed-has-launched-abu-dhabi-clean-energy-powerhouse/ |access-date=2023-01-24 |website=www.mediaoffice.abudhabi |language=en}}</ref>
In 2006, the UAE government established Abu Dhabi Future Energy Company PJSC (Masdar) to diversify the entire resources and boost the local economy.<ref>{{Cite web |title=Masdar Initiative Supports Clean Energy {{!}} UAE Embassy in Washington, DC |url=https://www.uae-embassy.org/news/masdar-initiative-supports-clean-energy |access-date=2023-01-24 |website=Masdar Initiative Supports Clean Energy {{!}} UAE Embassy in Washington, DC |language=en}}</ref><ref>{{Cite web |title=Mohamed bin Zayed Launches Abu Dhabi Powerhouse to Develop World-Leading Portfolio in Clean Energy |url=https://www.mediaoffice.abudhabi/en/energy/mohamed-bin-zayed-has-launched-abu-dhabi-clean-energy-powerhouse/ |access-date=2023-01-24 |website=www.mediaoffice.abudhabi |language=en}}</ref>


Masdar has invested in one of the world’s largest concentrated solar plant Shams 1,<ref>{{Cite web |title=Shams continues to contribute to UAE's clean energy transition |url=https://www.gulftoday.ae/business/2020/04/05/shams-continues-to-contribute--to-uaes-clean-energy-transition |access-date=2023-01-24 |website=www.gulftoday.ae}}</ref> and offshore wind farms the London Array.<ref>{{Cite web |last=Bouyamourn |first=Adam |date=2014-09-23 |title=Masdar buys stake in one of the world's biggest offshore wind farms |url=https://www.thenationalnews.com/business/masdar-buys-stake-in-one-of-the-worlds-biggest-offshore-wind-farms-1.237816 |access-date=2023-01-24 |website=The National |language=en}}</ref> Masdar continues to support renewable energy, climate action, and domestic and international sustainability through various initiatives it has taken locally and internationally.<ref>{{Cite web |title=H.E. Dr. Sultan Ahmed Al Jaber - India Energy Week {{!}} February 2024 |url=https://www.indiaenergyweek.com/strategic-conference-speakers/strategic-conference-speakers/h-e-dr-sultan-ahmed-al-jaber/ |access-date=2023-02-21 |website=www.indiaenergyweek.com |language=en}}</ref><ref>{{Cite web |title=Dr. Sultan Ahmed Al Jaber is President-Designate for the 28th Conference of the Parties (COP28) |url=https://www.cm-today.com/top-stories/business/dr-sultan-ahmed-al-jaber-is-president-designate-for-the-28th-conference-of-the-parties-cop28 |access-date=2023-02-21 |website=www.cm-today.com |language=en}}</ref>
⚫
[[Sultan Al Jaber]] is the founder and served as the CEO of Masdar when it was founded in 2006.<ref>{{Cite web |title=Abu Dhabi programme drives adoption of solar power |url=https://gulfnews.com/business/abu-dhabi-programme-drives-adoption-of-solar-power-1.159580 |access-date=2023-02-21 |website=gulfnews.com |date=February 2007 |language=en}}</ref><ref>{{Cite web |title=Masdar Initiative Supports Clean Energy {{!}} UAE Embassy in Washington, DC |url=https://www.uae-embassy.org/news/masdar-initiative-supports-clean-energy |access-date=2023-02-21 |website=Masdar Initiative Supports Clean Energy {{!}} UAE Embassy in Washington, DC |language=en}}</ref> In 2009, he oversaw Masdar’s efforts to secure the presence of the International Renewable Energy Agency (IRENA) headquarters at Masdar City, delivering the successful bid in [[South Korea]].<ref>{{Cite news |author=Staff Writer |title=UAE submits bid for IRENA HQ |url=https://www.constructionweekonline.com/projects-tenders/article-5132-uae-submits-bid-for-irena-hq}}</ref>


⚫
Ahmed Al Jaber is the chairman of Masdar,<ref>{{Cite web |url=https://www.mubadala.com/en/news/mubadala-announces-new-chairman-and-ceo-masdar |access-date=2023-02-21 |website=www.mubadala.com |title=Mubadala Announces New Chairman and CEO of Masdar &#124; Mubadala }}</ref> as well as a member of the UAE Federal Cabinet.<ref>{{Cite web |title=Members Of The Cabinet |url=https://uaecabinet.ae/en/details/cabinet-members/his-excellency-dr-sultan-bin-ahmad-sultan-al-jaber |access-date=2023-02-21 |website=uaecabinet.ae}}</ref> Al Jaber’s history with Masdar began in 2006, when he was appointed as the founding CEO.<ref>{{Cite web |title=Abu Dhabi programme drives adoption of solar power |url=https://gulfnews.com/business/abu-dhabi-programme-drives-adoption-of-solar-power-1.159580 |access-date=2023-02-21 |website=gulfnews.com |date=February 2007 |language=en}}</ref><ref>{{Cite web |title=Masdar Initiative Supports Clean Energy {{!}} UAE Embassy in Washington, DC |url=https://www.uae-embassy.org/news/masdar-initiative-supports-clean-energy |access-date=2023-02-21 |website=Masdar Initiative Supports Clean Energy {{!}} UAE Embassy in Washington, DC |language=en}}</ref> In 2009, he oversaw Masdar’s efforts to secure the presence of the International Renewable Energy Agency (IRENA) headquarters at Masdar City, delivering the successful bid in South Korea.<ref>{{Cite news |author=Staff Writer |title=UAE submits bid for IRENA HQ |url=https://www.constructionweekonline.com/projects-tenders/article-5132-uae-submits-bid-for-irena-hq}}</ref>
⚫
In December 2022 it was announced that the [[Abu Dhabi National Energy Company]] PJSC (TAQA), [[Mubadala Investment Company]] (Mubadala) and [[Abu Dhabi National Oil Company]] (ADNOC) would partner under Masdar brand to form a global clean energy powerhouse focused on renewable energy and green hydrogen.<ref>{{cite web |title=UAE's ADNOC, Taqa and Mubadala complete Masdar stake deal |url=https://www.reuters.com/business/energy/uaes-adnoc-taqa-mubadala-complete-masdar-stake-deal-2022-12-08/ |website=Reuters |language=en |date=8 December 2022}}</ref><ref>{{cite web |title=Mohamed bin Zayed Launches Abu Dhabi Powerhouse |url=https://adnoc.ae/en/news-and-media/press-releases/2021/mohamed-bin-zayed-launches-abu-dhabi-powerhouse-to-develop-world-leading-portfolio-in-clean-energy/ |website=Adnoc}}</ref><ref>{{cite web |title=Taqa, Adnoc, Mubadala complete transaction for stake in Masdar |url=https://www.gulftoday.ae/business/2022/12/08/taqa-adnoc-mubadala-complete-transaction-for-stake-in-masdar |website=www.gulftoday.ae}}</ref>


===COP28===
==Masdar City==
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{{main|Masdar City}}
{{main|2023 United Nations Climate Change Conference}}
During the [[COP28]], Masdar was reported to have hired lobbyists and a public relations firm, First International Resources, to defend its work during the COP28 after criticism from politicians and environmentalists. Masdar chairman and founder [[Sultan Al Jaber]], was the president of COP28. According to the contract, the consultancy was to respond to and deflect negative press reports about Al Jaber.<ref>{{Cite news |last=Kerr |first=Simeon |last2=Mooney |first2=Attracta |last3=Temple-West |first3=Patrick |date=2023-08-12 |title=UAE-owned company hires lobbyists to deflect climate talks criticism |work=Financial Times |url=https://www.ft.com/content/6c207836-a26c-4960-888c-bea2890a2835}}</ref><ref>{{Cite news |last=Joselow |first=Maxine |date=2023-08-11 |title=Host of U.N. climate summit moves to ‘counteract all negative press’ |language=en-US |work=Washington Post |url=https://www.washingtonpost.com/politics/2023/08/09/host-un-climate-summit-moves-counteract-all-negative-press/ |issn=0190-8286}}</ref> According to ''The Guardian'', edits on Wikipedia have been made by a user, who disclosed being paid by Masdar, to make Al Jaber’s role at Masdar more prominent on his page the day after ''The Guardian'' revealed his appointment as president of COP28.<ref>{{Cite web|url=https://www.theguardian.com/environment/2023/may/30/cop28-president-team-accused-of-wikipedia-greenwashing-sultan-al-jaber|title=Cop28 president’s team accused of Wikipedia ‘greenwashing’|publisher=The Guardian|date=30 May 2023}}</ref>


⚫
Masdar City is a sustainable urban development project that was launched by the Abu Dhabi future energy company Masdar in 2008,<ref>{{cite web |title=Work starts on Masdar city |url=https://www.arabianbusiness.com/industries/energy/work-starts-on-masdar-city-188280 |website=Arabianbusiness }}</ref> located in Abu Dhabi in the United Arab Emirates,<ref name=":0">[https://www.usuaebusiness.org/wp-content/uploads/2020/12/CorporateSpotlight_Masdar-Web.pdf Corporate Spotlight] usuaebusiness.org</ref><ref name=":7">{{Cite news |last=tlemke |date=2015-07-30 |title=What We Can Learn From Masdar City|website=U.S. Chamber of Commerce Foundation |url=https://www.uschamberfoundation.org/blog/post/what-we-can-learn-masdar-city/43483 |access-date=2021-06-30}}</ref> and was designed to be a zero-carbon city by 2016. The city is powered in part by the Masdar City 10MW Solar Power Plant, the first grid-connected renewable energy project in the UAE and the largest of its kind in the Middle East when inaugurated in 2009. An additional 1MW of rooftop PV is located on the buildings developed as phase 1 of Masdar City.<ref name=":7" /><ref name=":8">{{Cite news |last=Name |date=2021-04-14 |title=Gulf states turn from oil to embrace the energy transition |url=https://investmentmonitor.ai/energy/gulf-states-energy-transition |access-date=2021-06-30 |website=Investment Monitor |language=en-US}}</ref><ref name=":2">[https://www.pwc.com/m1/en/publications/documents/eversheds-pwc-developing-renewable-energy-projects.pdf?platform=hootsuite Developing renewable energy projects] pwc.com</ref><ref>{{Cite journal|doi = 10.1088/1742-6596/1706/1/012141|title = Creating Global Sustainable Smart Cities (A Case Study of Masdar City)|year = 2020|last1 = Sankaran|first1 = Venkatanarayanan|last2 = Chopra|first2 = Ashok|journal = Journal of Physics: Conference Series|volume = 1706|issue = 1|page = 012141|bibcode = 2020JPhCS1706a2141S|doi-access = free}}</ref>
== Projects ==
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=== Dogger Bank Wind Farm ===
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{{Main|Dogger Bank Wind Farm}}


Masdar City has a university for [[artificial intelligence]] (AI), which was launched 2019. The [[Mohamed bin Zayed University of Artificial Intelligence]] (MBZUAI) is a graduate-level research institution, named after Sheikh [[Mohamed bin Zayed]].<ref>{{Cite web|title=World's first artificial intelligence university to open in Abu Dhabi|url=https://www.thenationalnews.com/business/technology/world-s-first-artificial-intelligence-university-to-open-in-abu-dhabi-1.924350|access-date=2021-07-06|website=The National|date=16 October 2019 }}</ref><ref>{{Cite web|last=Network|first=Viet Nam News/Asia News|date=2019-10-18|title=Abu Dhabi unveils world's first Artificial Intelligence university|url=https://technology.inquirer.net/91455/abu-dhabi-unveils-worlds-first-artificial-intelligence-university|access-date=2021-07-06|website=INQUIRER.net|language=en}}</ref><ref>{{Cite web|date=2019-10-17|title=Abu Dhabi announces establishment of the Mohamed bin Zayed University of Artificial Intelligence|url=https://www.csregypt.com/en/abu-dhabi-announces-establishment-of-the-mohamed-bin-zayed-university-of-artificial-intelligence/|access-date=2021-07-06|website=Csr Egypt|language=en-US}}</ref><ref>{{Cite web|title=Abu Dhabi launches world's first University of Artificial Intelligence|url=https://www.themanufacturer.com/articles/abu-dhabi-launches-worlds-first-university-of-artificial-intelligence/|access-date=2021-07-06|website=The Manufacturer|language=en-GB}}</ref><ref>{{Cite web|date=2019-10-17|title=World's first AI university announced in Abu Dhabi|url=https://edtechnology.co.uk/latest-news/worlds-first-ai-university-announced-in-abu-dhabi/|access-date=2021-07-06|website=Education Technology|language=en-GB}}</ref><ref>{{Cite web|last=Nagraj|first=Aarti|date=2019-10-16|title=Video: Abu Dhabi launches world's first AI university|url=https://gulfbusiness.com/video-abu-dhabi-launches-worlds-first-ai-university/|access-date=2021-07-06|website=Gulf Business|language=en-US}}</ref><ref>{{Cite web|date=2019-10-17|title=The world's first University of Artificial Intelligence has launched in Abu Dhabi|url=https://www.ameinfo.com/industry/technology/the-worlds-first-university-of-artificial-intelligence-has-been-launched-in-abu-dhabi|access-date=2021-07-06|website=AMEInfo|language=en}}</ref><ref>{{Cite web|title=UAE launches 'world's first AI university' with 100% scholarships|url=https://www.theweek.in/news/sci-tech/2019/10/16/uae-launches-worlds-first-ai-university-with-100-scholarships.html|access-date=2021-07-06|website=The Week|language=en}}</ref>
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On 1 December 2023, it was agreed that Masdar would part of an £11 billion investment in the UK's [[Dogger Bank Wind Farm|Dogger Bank wind farm]] project.<ref name=dubaiukagreement>{{cite news|url=https://www.independent.co.uk/climate-change/news/rwe-cop28-dogger-bank-prime-minister-dubai-b2456907.html|title=Sunak wraps up 11-hour Cop28 trip with new deal for UK wind farm|publisher=The Independent|date=1 December 2023|accessdate=1 December 2023}}</ref> The agreement was made at the [[2023 United Nations Climate Change Conference|COP28 summit]] that was held in the UAE.<ref name=dubaiukagreement />


⚫
In December 2022 it was announced that the Abu Dhabi National Energy Company PJSC (TAQA), Mubadala Investment Company (Mubadala) and Abu Dhabi National Oil Company (ADNOC) would partner under the Abu Dhabi Future Energy Company (Masdar) brand to form a global clean energy powerhouse focused on renewable energy and green hydrogen . As per the new shareholder structure, Masdar City would be under Mubadala's ownership.<ref>{{cite web |title=UAE's ADNOC, Taqa and Mubadala complete Masdar stake deal |url=https://www.reuters.com/business/energy/uaes-adnoc-taqa-mubadala-complete-masdar-stake-deal-2022-12-08/ |website=Reuters |language=en |date=8 December 2022}}</ref><ref>{{cite web |title=Mohamed bin Zayed Launches Abu Dhabi Powerhouse |url=https://adnoc.ae/en/news-and-media/press-releases/2021/mohamed-bin-zayed-launches-abu-dhabi-powerhouse-to-develop-world-leading-portfolio-in-clean-energy/ |website=Adnoc}}</ref><ref>{{cite web |title=Taqa, Adnoc, Mubadala complete transaction for stake in Masdar |url=https://www.gulftoday.ae/business/2022/12/08/taqa-adnoc-mubadala-complete-transaction-for-stake-in-masdar |website=www.gulftoday.ae}}</ref>
=== Masdar City ===
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{{main|Masdar City}}


⚫
== Dogger Bank Wind Farm ==
⚫
Masdar City is a sustainable urban development project located in Abu Dhabi that was launched by Masdar in 2008 and was designed to be a zero-carbon city by 2016.<ref>{{cite web |title=Work starts on Masdar city |url=https://www.arabianbusiness.com/industries/energy/work-starts-on-masdar-city-188280 |website=Arabianbusiness }}</ref><ref name=":0">[https://www.usuaebusiness.org/wp-content/uploads/2020/12/CorporateSpotlight_Masdar-Web.pdf Corporate Spotlight] usuaebusiness.org</ref><ref name=":7">{{Cite news |last=tlemke |date=2015-07-30 |title=What We Can Learn From Masdar City|website=U.S. Chamber of Commerce Foundation |url=https://www.uschamberfoundation.org/blog/post/what-we-can-learn-masdar-city/43483 |access-date=2021-06-30}}</ref> The city is powered in part by the Masdar City 10MW Solar Power Plant, the first grid-connected renewable energy project in the UAE and the largest of its kind in the Middle East when it was inaugurated in 2009. An additional 1MW of rooftop PV is located on the buildings developed as phase 1 of Masdar City.<ref name=":7" /><ref name=":8">{{Cite news |last=Name |date=2021-04-14 |title=Gulf states turn from oil to embrace the energy transition |url=https://investmentmonitor.ai/energy/gulf-states-energy-transition |access-date=2021-06-30 |website=Investment Monitor |language=en-US}}</ref><ref name=":2">[https://www.pwc.com/m1/en/publications/documents/eversheds-pwc-developing-renewable-energy-projects.pdf?platform=hootsuite Developing renewable energy projects] pwc.com</ref><ref>{{Cite journal|doi = 10.1088/1742-6596/1706/1/012141|title = Creating Global Sustainable Smart Cities (A Case Study of Masdar City)|year = 2020|last1 = Sankaran|first1 = Venkatanarayanan|last2 = Chopra|first2 = Ashok|journal = Journal of Physics: Conference Series|volume = 1706|issue = 1|page = 012141|bibcode = 2020JPhCS1706a2141S|doi-access = free}}</ref> Masdar City has a university for [[artificial intelligence]] (AI), which was launched 2019. The [[Mohamed bin Zayed University of Artificial Intelligence]] (MBZUAI) is a graduate-level research institution, named after Sheikh [[Mohamed bin Zayed]].<ref>{{Cite web|title=World's first artificial intelligence university to open in Abu Dhabi|url=https://www.thenationalnews.com/business/technology/world-s-first-artificial-intelligence-university-to-open-in-abu-dhabi-1.924350|access-date=2021-07-06|website=The National|date=16 October 2019 }}</ref><ref>{{Cite web|last=Network|first=Viet Nam News/Asia News|date=2019-10-18|title=Abu Dhabi unveils world's first Artificial Intelligence university|url=https://technology.inquirer.net/91455/abu-dhabi-unveils-worlds-first-artificial-intelligence-university|access-date=2021-07-06|website=INQUIRER.net|language=en}}</ref><ref>{{Cite web|date=2019-10-17|title=Abu Dhabi announces establishment of the Mohamed bin Zayed University of Artificial Intelligence|url=https://www.csregypt.com/en/abu-dhabi-announces-establishment-of-the-mohamed-bin-zayed-university-of-artificial-intelligence/|access-date=2021-07-06|website=Csr Egypt|language=en-US}}</ref>
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{{Main|Dogger Bank Wind Farm}}


⚫
On 1 December 2023, it was agreed that Masdar would part of an £11 billion investment in the UK's [[Dogger Bank Wind Farm|Dogger Bank wind farm]] project.<ref name=dubaiukagreement>{{cite news|url=https://www.independent.co.uk/climate-change/news/rwe-cop28-dogger-bank-prime-minister-dubai-b2456907.html|title=Sunak wraps up 11-hour Cop28 trip with new deal for UK wind farm|publisher=The Independent|date=1 December 2023|accessdate=1 December 2023}}</ref> The agreement was made at the [[2023 United Nations Climate Change Conference|COP28 summit]] that is being held in the UAE .<ref name=dubaiukagreement />
=== Shams Solar Power ===
{{main|Shams Solar Power Station}}
Shams&nbsp;1 is a 100&nbsp;MW concentrating solar power station which uses parabolic trough technology. It displaces 175,000&nbsp;tons of {{CO2}} per year and its power output is enough to power 20,000&nbsp;homes. The station consists of 258,048&nbsp;parabolic trough mirrors, 192&nbsp;solar collector assembly loops with 8&nbsp;solar collector assemblies per loop, 768&nbsp;solar collector assembly units, and 27,648&nbsp;absorber pipes. It covers an area of approximately {{convert|2.5|km2}}.<ref name=server>{{cite news|url= http://www.solarserver.com/solar-magazine/solar-news/current/2011/kw10/concentrating-solar-power-in-the-united-arab-emirates-shams-1-project-secures-financial-close.html|title= Concentrating solar power in the United Arab Emirates: Shams&nbsp;1 project secures financial close|date= 2011-03-07|work= SolarServer|accessdate= 2011-01-12|url-status= dead|archiveurl= https://web.archive.org/web/20110313173055/http://www.solarserver.com/solar-magazine/solar-news/current/2011/kw10/concentrating-solar-power-in-the-united-arab-emirates-shams-1-project-secures-financial-close.html|archivedate = 2011-03-13}}</ref><ref>{{Cite web |title=Shams continues to contribute to UAE's clean energy transition |url=https://www.gulftoday.ae/business/2020/04/05/shams-continues-to-contribute--to-uaes-clean-energy-transition |access-date=2023-01-24 |website=www.gulftoday.ae}}</ref>


==References==
==References==

Revision as of 22:41, 15 December 2023

For the planned city, see Masdar City.
Masdar
Company typeSubsidiary of State-owned enterprise
Industryrenewable energy, clean technology, Green hydrogen[1]
Founded2006 (2006)
Headquarters
Abu Dhabi
,
United Arab Emirates
Key people
OwnerAbu Dhabi National Oil Company, Mubadala Investment Company , Abu Dhabi National Energy Company[2]
Websitehttp://www.masdar.ae/

Masdar (Arabic:مصدر‎), also known as the Abu Dhabi Future Energy Company, is a United Arab Emirates state-owned renewable energy company. It was founded in 2006 as a subsidiary of the UAE state-owned Mubadala Investment Company. Masdar has worked to deflect criticisms of the UAE, a major fossil fuel producer, and defend the country's environmental record.[3][4] Masdar also took part in greenwashing before and during the COP28 climate change conference which is being held in the UAE.[5]

History

In 2006, the UAE government established Abu Dhabi Future Energy Company PJSC (Masdar) to diversify the entire resources and boost the local economy.[6][7]

Masdar has invested in one of the world’s largest concentrated solar plant Shams 1,[8] and offshore wind farms the London Array.[9] Masdar continues to support renewable energy, climate action, and domestic and international sustainability through various initiatives it has taken locally and internationally.[10][11]

Ahmed Al Jaber is the chairman of Masdar,[12] as well as a member of the UAE Federal Cabinet.[13] Al Jaber’s history with Masdar began in 2006, when he was appointed as the founding CEO.[14][15] In 2009, he oversaw Masdar’s efforts to secure the presence of the International Renewable Energy Agency (IRENA) headquarters at Masdar City, delivering the successful bid in South Korea.[16]

Masdar City

Main article: Masdar City

Masdar City is a sustainable urban development project that was launched by the Abu Dhabi future energy company Masdar in 2008,[17] located in Abu Dhabi in the United Arab Emirates,[18][19] and was designed to be a zero-carbon city by 2016. The city is powered in part by the Masdar City 10MW Solar Power Plant, the first grid-connected renewable energy project in the UAE and the largest of its kind in the Middle East when inaugurated in 2009. An additional 1MW of rooftop PV is located on the buildings developed as phase 1 of Masdar City.[19][20][21][22]

Masdar City has a university for artificial intelligence (AI), which was launched 2019. The Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) is a graduate-level research institution, named after Sheikh Mohamed bin Zayed.[23][24][25][26][27][28][29][30]

In December 2022 it was announced that the Abu Dhabi National Energy Company PJSC (TAQA), Mubadala Investment Company (Mubadala) and Abu Dhabi National Oil Company (ADNOC) would partner under the Abu Dhabi Future Energy Company (Masdar) brand to form a global clean energy powerhouse focused on renewable energy and green hydrogen . As per the new shareholder structure, Masdar City would be under Mubadala's ownership.[31][32][33]

Dogger Bank Wind Farm

Main article: Dogger Bank Wind Farm

On 1 December 2023, it was agreed that Masdar would part of an £11 billion investment in the UK's Dogger Bank wind farm project.[34] The agreement was made at the COP28 summit that is being held in the UAE .[34]

References

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  2. ^ "UAE's ADNOC, Taqa and Mubadala complete Masdar stake deal". www.reuters.com. 8 December 2022. Retrieved 2023-04-24.
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  34. ^ a b "Sunak wraps up 11-hour Cop28 trip with new deal for UK wind farm". The Independent. 1 December 2023. Retrieved 1 December 2023.

External links

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