Abu Dhabi-based Masdar Group is focusing Middle East and North Africa region(MENA) for its renewable energy projects, according to the media reports.
Masdar’s Chief Executive Officer, Dr. Ahmad Belhould said that our company’s main objective is to invest competitively in renewable energy projects in Jordan, Egypt and Morocco.
Solar and Wind Projects
According to Analysts estimation about MENA region, the demand for energy is thought to be double by 2030.To fullfil this need, there is no other option except the deployment of aggressive plans for the development of renewable energy in the region.Therefore Group is focusing on solar and wind projects to double its current portfolio of renewable energy.
Masdar is one of the main renewable energy sector in the Middle East.The Group’s sustainable city in Abu Dhabi – Masdar City.This city uses power from one of the largest concentrated solar thermal power plants in Asia-Shams.
Tafila Wind Farm In Jordan And Relationship With Other Companies
Masdar is in continuous effort to find investment opputunities.Therefore it keeps a close relationship with multiple innovative energy companies.In December, Group along with its promoters inaugurated a 117 MW Tafila wind farm in Jordan.It is expected that this wind farm will meet 6.5 percent of Jordan’s 1,800 MW renewable energy target for 2020.
Projects in Morocco and Egypt
Masdar is also looking to develop a solar project in Morocco.The project objective is to provide enough electricity to meet the demand of 17,700 homes approximately.In November last year, Group, in partnership with Saudi Arabia’s ACWA Power announced plans to set up 2 GW of renewable energy capacity in Egypt. This would include 1.5 GW of solar power and 500 MW of wind energy capacity.
Masdar has enough multinational experience in renewable energy sectors.The Group aim is to deliver nearly 1 GW of clean energy in the United Arab Emirates and across the MENA region.