Energy
Masdar Eyes International Expansion As Global Investments Touch $14bn
Abu Dhabi Future Energy Company PJSC, also known as Masdar, has invested a total US $14 billion in over 30 countries across the world.
Mohamed Jameel Al Ramahi, CEO of Masdar, said this on the sidelines of the World Future Energy Summit at Abu Dhabi Sustainability Week on Tuesday.
Al Ramahi said that the company aims to increase its investment in Egypt and expand into the US market, the second-largest renewable energy market in the world after China, where the company aims to double its investment.
Youssef Al Ali, Executive Director of the Clean Energy Department at Masdar, told the Emirates News Agency, WAM, that Masdar has a total operating capacity of around 5,000 megawatts, making it a key global player in renewable energy.
The company, a subsidiary of the Mubadala Development Company, aims to launch renewable energy projects around the world, invest in the US and find opportunities for growth in that promising market, as well as enhance its presence in Europe and East Asia, he said in conclusion.
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