UAE’s Masdar Aims For 500% Increase In Global Green Energy Capacity By 2030

Masdar, the UAE’s premier renewable energy company, aims to elevate its global green energy capacity by 500% to 100 GW by 2030, as stated by Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure.

The UAE has emerged as a significant investor in renewables, earmarking Dh200 billion for clean energy projects domestically until 2030, with Dh160 billion already invested. Additionally, the UAE has allocated Dh185 billion for renewables projects across more than 40 countries, signaling its commitment to green energy on a global scale.

Masdar, renowned for its leadership in clean energy, has already made significant investments worldwide, boasting a total capacity of 20 GW installed or in development. As a key driver of the UAE’s sustainability vision, Masdar is poised to accelerate global clean energy expansion and contribute to the UAE’s Net Zero by 2050 initiative.

Al Mazrouei emphasized the UAE’s approach to climate action, which emphasizes balancing economic development with environmental protection through the adoption of low-carbon energy solutions. Speaking at the “Green Molecules and Hydrogen” session during the World Economic Forum in Riyadh, Al Mazrouei highlighted the UAE’s National Hydrogen Strategy 2050 and its goal to become a leading hydrogen producer by 2031.

Furthermore, Al Mazrouei underscored the importance of international collaboration, policy frameworks, investment, technology, and sustainable business models in advancing the deployment of renewables. Reflecting on the UAE’s progress, he noted a doubling of renewables capacity between 2019 and 2022 and a 70% growth in installed capacity by 2023.

The minister emphasized the need for global partnerships to facilitate technology transfer, investment, and capacity-building in emerging markets, ultimately accelerating the transition to sustainable energy systems.

At the World Economic Forum, industry leaders praised the ambitious decarbonization efforts of Saudi Arabia and the UAE, highlighting the region’s unparalleled momentum in advancing renewable energy initiatives.