Masdar Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s renewable energy company, is expanding its presence in the global clean energy landscape through partnerships in Malaysia and Germany.
Masdar and Citaglobal Berhad Collaborate in Malaysia
Masdar has signed a memorandum of understanding (MoU) with Citaglobal Berhad, a significant step towards fostering renewable energy development in Malaysia. The agreement was signed by Abdulla Zayed, Masdar’s Head of Development and Investment, and Tan Sri (Dr) Mohamad Norza Zakaria, Executive Chairman, and President of Citaglobal. Together, they will explore a wide range of renewable energy initiatives, including solar, battery energy storage system (BESS), wind, and other technologies in the Malaysian state of Pahang. This collaboration aligns with Malaysia’s goal of achieving net-zero emissions by 2050.
Witnessed by the Minister of Investment, Trade and Industry Malaysia (MITI), Yang Berhormat Mulia Datuk Seri Utama Tengku Zafrul Aziz, and the UAE Ambassador to Malaysia, HE Khalid Ghanim Mohammed Alghaith, this partnership aims to accelerate the adoption of sustainable energy solutions in Southeast Asia. Masdar has already been an active player in the region, having developed the largest floating solar facility in Indonesia, the 145MW Cirata Floating Solar PV plant, and invested in Indonesia’s Pertamina Geothermal Energy.
Mohamed Jameel Al Ramahi, Masdar’s CEO, expressed his enthusiasm for the partnership, stating, “Masdar is excited to be partnering with Citaglobal Berhad and to be expanding our presence in the key Southeast Asian market. We look forward to pioneering energy solutions to reduce emissions in Malaysia and the region.”
Citaglobal Berhad’s Executive Chairman and President, Tan Sri (Dr) Mohamad Norza Zakaria, emphasized the potential for collaboration in technology solutions and equipment supply beyond Malaysia, with a focus on Central Asia.
Masdar and Iberdrola Collaborate on Baltic Eagle Offshore Wind Farm
In another significant move, Masdar has joined forces with Iberdrola, a global clean energy leader, to co-invest in the Baltic Eagle offshore wind farm in the German Baltic Sea. The strategic agreement allows Iberdrola to retain a majority 51% stake in the 476-megawatt (MW) wind farm, valued at approximately €1.6 billion euros. Baltic Eagle is set to play a pivotal role in advancing green energy security in Europe.
The deal was signed in Madrid by Ignacio Galan, Iberdrola’s Executive Chairman, and Masdar’s CEO, Mohamed Jameel Al Ramahi, further strengthening the collaboration between the two clean energy powerhouses. Both companies recognize this partnership as a strategic and critical milestone and are actively exploring more renewable energy investment opportunities in various technologies and regions.
The Baltic Eagle wind farm will feature 50 wind turbines with a unit capacity of 9.53 MW each, built on monopile foundations. It is projected to produce 1.9 terawatt-hours (TWh) of clean energy annually, enough to meet the electricity demands of 475,000 homes, while saving 800,000 tons of CO2 emissions per year.
The farm is expected to commence initial operations by the end of 2024 and comes with a minimum regulated tariff of €64.6/MWh for the first 20 years, with 100% of its production already contracted via long-term agreements.
This landmark agreement between Masdar and Iberdrola will harness Germany’s abundant wind power in the Baltic Sea and bring electricity to nearly half a million homes, while cutting emissions.
HE Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar, and COP28 President-Designate, lauded the partnership, stating, “This landmark agreement between Masdar and Iberdrola will harness Germany’s abundant wind power in the Baltic Sea and bring electricity to nearly half a million homes, while cutting emissions.”
Ignacio Galan, Iberdrola’s Executive Chairman, added, “Delivering the clean energy that the world needs requires companies with vision and commitment that are willing to make major investments in new infrastructure. Masdar brings all of these qualities to Baltic Eagle.”
Driving the Global Energy Transition
The partnerships support Masdar’s commitment to driving the global energy transition. Established in 2006, Masdar has a substantial presence in over 40 countries and a total electricity generation capacity of more than 20GW. With ambitious plans to reach 100GW and 1 million tonnes of green hydrogen by 2030, Masdar continues to be a pioneer in advancing the clean energy sector.
In collaboration with partners, Masdar has developed landmark renewable energy projects across the Middle East, Scotland, Indonesia, and Egypt, among others. These initiatives have significantly contributed to clean, life-changing energy access, empowering millions of households worldwide.
With the UAE to host COP28, the company says the strategic partnerships with Citaglobal Berhad and Iberdrola underline the need for international cooperation in the fight against climate change.
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