Latest news with #Sadawi
Yahoo
22-04-2025
- Business
- Yahoo
Shanghai Electric, Masdar and Mawarid Group join forces for clean energy
Shanghai Electric has formalised agreements with Abu Dhabi Future Energy Company (Masdar) and Oman's Mawarid Group for major renewable energy projects across both Middle Eastern nations. The partnerships will focus on advancing clean energy through technology deployment, localised manufacturing, and multi-sector collaboration. The agreement with Masdar involves the development of a 2GW solar power project in Saudi Arabia. In Oman, the agreement with Mawarid focuses on wind energy cooperation. Saudi solar project, named Sadawi, marks Shanghai Electric's most extensive solar EPC venture to date. It will be developed in collaboration with Masdar. The 40km² plant will produce more than six billion kilowatt-hours annually. It is expected to supply electricity to 700,000 homes and reduce emissions by three million tonnes. The project employs modern photovoltaic systems to harness Saudi Arabia's solar potential. It forms a significant part of the country's national renewable strategy. The Saudi initiative contributes to efforts aimed at reducing fossil fuel use. It also supports Shanghai Electric's expansion into solar markets in the region. In Oman, the partnership includes wind turbine supply, technology exchange, and plans for a local production facility. The agreement promotes regional manufacturing and knowledge sharing. The initiative seeks to utilise Oman's wind resources and stimulate the domestic industry. It is also intended to drive long-term development through energy diversification. This wind energy project supports Oman's broader goal of shifting from conventional fuels to cleaner alternatives. It also enhances technological collaboration between China and Arab countries. Shanghai Electric Group chairman Wu Lei said: 'This is a new starting point for Shanghai Electric and Masdar to carry out comprehensive cooperation and an important milestone for Shanghai Electric to further establish itself in the Middle East's new energy market. 'I hope both parties will work together to create a benchmark demonstration project and contribute more to the global energy transition." Both agreements reflect the goals of Saudi Vision 2030 and Oman Vision 2040, and they prioritise sustainable energy, local involvement, and cross-sector cooperation. Masdar CEO Mohamed Jameel Al Ramahi said: 'Masdar attaches great importance to its partnership with Shanghai Electric and looks forward to further deepening cooperation with them in wind power, photovoltaics, energy storage, and other fields in the future to jointly promote the transformation of the global energy structure." "Shanghai Electric, Masdar and Mawarid Group join forces for clean energy" was originally created and published by Energy Monitor, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Zawya
24-03-2025
- Business
- Zawya
Masdar invests $8.17bln in 2024, launches new projects in 9 countries
ABU DHABI - Abu Dhabi Future Energy Company – Masdar has reinforced its leadership in the global clean energy sector by deploying close to AED30 billion in equity investments and securing more than AED16.5 billion of project financing across nine countries. These accomplishments reflect Masdar's commitment to expanding its renewable energy portfolio while driving the global energy transformation. Since its establishment in 2006, Masdar has been a key enabler of the UAE's vision as a global leader in sustainability and climate action. The company has developed and partnered in projects in over 40 countries, with a mandate to increase its renewable energy portfolio capacity to 100GW by 2030. Masdar contributes to accelerating development and supporting the UAE's ambition to become the world's largest developer, owner, and operator of renewable energy and green hydrogen. It also aids countries globally in achieving their climate neutrality plans, while increasing its project portfolio's production capacity to 51GW by the end of 2024. Masdar's growth was advanced by landmark acquisitions in Greece, Spain and the United States, strengthening the company's presence in Europe and North America, as well as breaking ground on seven major projects worldwide. These included two BESS projects in the UK, two solar projects in Azerbaijan with a combined capacity of 760MW, and the 1.5GW Al Ajban Solar Project in the UAE. Additionally, Masdar announced the financial close of six projects, including the 1.1GW Al Henakiyah Solar Power Plant and multi-utility AMAALA sustainable project in the Kingdom of Saudi Arabia, as well as 760MW solar projects Bilasuvar and Neftchala in Azerbaijan. Masdar also signed a Power Purchase Agreement in December 2024 for the 2GW Sadawi project in Saudi Arabia, and inaugurated the 500MW Zarafshan Wind Farm in Uzbekistan, now the largest operation in Central Asia.
