Masdar, also known as Abu Dhabi Future Energy Company, is marking 20 years of its journey in renewable energy, highlighting its transformation from a local initiative into a major global player. The company was established in 2006 by Sheikh Mohamed bin Zayed Al Nahyan with the aim of diversifying the economy of the United Arab Emirates and promoting clean energy development worldwide.
Masdar began its operations with a single grid-connected solar plant in Masdar City in 2009. Over the years, it has expanded significantly and now operates in 12 countries with a workforce of more than 1,100 employees. Its portfolio includes large-scale renewable projects such as the 2GW Al Dhafra solar plant in Abu Dhabi, along with investments in offshore wind and floating solar technologies.
A key milestone in the company’s growth came in 2022 when a new ownership structure was formed, involving TAQA, Mubadala, and ADNOC. This partnership has supported Masdar’s rapid global expansion. Recently, the company has strengthened its presence in international markets by acquiring projects in Spain, Greece, and the United States.
Masdar has set a target to achieve 100GW of renewable energy capacity by 2030. To meet this goal, it plans to add around 10GW of capacity each year. The company estimates that it will need to invest between $30 billion and $35 billion through equity and project financing to support this expansion.
Among its upcoming projects is a large 5.2GW solar development in Abu Dhabi, which will be combined with 19GWh of battery energy storage. This project is designed to provide stable and continuous power, helping meet the growing demand for reliable, clean energy.
Company leadership stated that Masdar has played an important role in shaping the renewable energy sector by investing early in emerging technologies. As it moves forward, the company continues to focus on innovation and sustainable energy solutions, supporting global efforts to achieve a low-carbon future.
