Masdar is celebrating 20 years of leadership in the global renewable energy sector, highlighting its rapid growth and expanding international footprint.
Established on 23 April 2006 by President His Highness Sheikh Mohamed bin Zayed Al Nahyan through Mubadala Investment Company, Masdar was created with the goal of diversifying the UAE economy and accelerating the global adoption of clean energy.
Today, Masdar has evolved into one of the world’s leading renewable energy developers and operators, with a portfolio exceeding 65 gigawatts (GW) and a long-term ambition to reach 100GW by 2030.
Dr. Sultan Ahmed Al Jaber said that investing in renewable energy in 2006 required bold vision, as the sector was still emerging and commercially untested. He noted that the UAE leadership recognised the future potential of clean energy early on and helped shape its global trajectory rather than follow existing trends.
He added that Masdar’s progress reflects that vision, stating the company did not simply participate in the clean energy transition but played a role in driving it forward.
Mohamed Jameel Al Ramahi said the company’s growth has been fuelled by the UAE’s long-term strategy and early recognition of rising global energy demand. He noted that Masdar has expanded into a global clean energy leader through partnerships, innovation, and investment, and now plays a central role in meeting increasing worldwide electricity needs with sustainable solutions.
Masdar’s journey began with a single grid-connected solar plant in Masdar City in 2009. Since then, it has delivered landmark projects, including the 2GW Al Dhafra solar plant in the UAE, which is among the world’s largest single-site solar facilities and powers around 200,000 homes.
From a small team in 2006, the company has grown to more than 1,100 employees across 12 countries. Its portfolio now spans multiple continents and technologies, including offshore wind projects in Scotland, floating solar in Indonesia, and large-scale wind farms in Uzbekistan.
In 2022, Masdar entered a new phase of growth under a revised ownership structure involving Abu Dhabi National Energy Company (TAQA), Mubadala, and ADNOC, strengthening its capacity for global expansion.
Recent international acquisitions in Spain, the United States, and Greece have further reinforced its position as a global clean energy leader. The company is also developing a major integrated renewable energy project in Abu Dhabi that combines 5.2GW of solar power with large-scale battery storage to deliver reliable baseload renewable electricity.
Looking ahead, Masdar plans to invest between $30 billion and $35 billion in equity and project financing to achieve its 100GW target by 2030, adding roughly 10GW of new capacity annually as it continues expanding its global renewable energy portfolio.
