The United Arab Emirates' renewable energy company Masdar has the ambition to increase to 100 gigawatts the capacity of projects it is developing globally, UAE Industry Minister Sultan al-Jaber said on Monday in Dubai.

Abu Dhabi-based Masdar has invested in wind and solar projects in 40 countries around the globe, said al-Jaber, who is also the Abu Dhabi National Oil Company (ADNOC) chief executive officer.

"Our ambition is to accelerate this development globally to reach 100 GW and ultimately double that again to 200 GW," he said without specifying a timeframe for the capacity increase. The Abu Dhabi goverment last month announced plans to increase Masdar's capacity to more than 50 gigawatts by 2030.

The minister was attending the opening of the Abu Dhabi Sustainability Week Summit at the Expo 2020 site in Dubai.



(Reporting by Maha el Dahan, writing by Maher Chmaytelli, Editing by Louise Heavens)