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UAE-based Masdar has invested in a portfolio of renewable energy assets with a combined projected value of more than $30 billion and a projected total capacity of more than 20 gigawatts (GW), according to CFO Niall Hannigan.
The state-owned renewables developer is active in more than 40 countries worldwide, he said in the company’s annual sustainability report 2022.
“Our new global partnership forged with ADNOC and TAQA, alongside our current shareholder Mubadala, offers exciting growth opportunities ahead,” he added.
Hannigan said sustainable financing is more in demand than ever and Masdar is creating opportunities for financial institutions to become part of the green financing agenda.
Although global market uncertainty and higher interest rates are a concern for companies worldwide, Masdar will use mechanisms such as pre-hedging to mitigate risks, the CFO stated.
The UAE will host COP28 at Expo City Dubai from 30 November –12 December 2023.
Read more: Masdar plans to produce up to 1 million tonnes of green hydrogen by 2030
(Writing by P Deol; Editing by Anoop Menon)
