Abu Dhabi’s Masdar eyes Saudi renewable energy projects

The Abu Dhabi Future Energy Company (Masdar) is eyeing Saudi Arabia’s renewable energy projects and is considering entering permanent alliances for the target projects, Business Development Director Yousef Al-Ali told Argaam in an interview.

Besides renewable energy, Masdar is also interested in waste-to-energy projects, and plans to bid for such projects should the Kingdom offers them, he said on the sideline of the Gulf Intelligence Forum.

As for the 400 megawatts Dumat Al Jandal wind project which was awarded to a consortium led by France’s EDF Energies Nouvelles and Masdar, Al-Ali said the project will be operational in around two years.

The combined production capacity of the firm’s power projects reaches 4,000 megawatts, with a projects portfolio worth over $8 billion, he said.

Projects include two wind power projects in the United States, various offshore wind farms in the UK, solar power projects in Spain and the Balkans, as well as the Arab region in Jordan and Morocco.  

Masdar is currently responsible for implementing the third phase of the 800 megawatt solar power project at Mohammed bin Rashid Al Maktoum Solar Park.

The firm is also handling a project in Sharjah aiming to get rid of 300,000 tons of waste a year and turn it into energy, he added.

According to data compiled by Argaam, Masdar, which is fully owned by Mubadala Investment Company, was founded in 2006 to develop feasible renewable energy projects in both the MENA region and the world.