The Largest Renewable Energy Company Plans to Produce 100 gigawatts by 2030
Masdar is the largest renewable energy company in the Middle East.
It has uncovered plans to increase its production capacity of wind and solar power to 100 gigawatts by 2030.
If it achieves this target, the group will become one of the largest renewable energy companies in the world.
It will also surpass competitors like Spain’s Iberdrola, France’s Engie, and Germany’s RWE.
Masdar Deals in Spain and Greece Reached 6.5 billion euros
The company plans to continue in expanding its global investment.
This year, Masdar has announced deals worth approximately 6.5 billion euros in Spain and Greece.
The company has also completed a deal to acquire Terra-Gen, one of the largest renewable energy companies in USA.
Masdar owns 49% of Dogger Bank South project in the UK, valued at £11 billion.
This project will be one of the largest offshore wind farms in the world when completed.
Mohammed Jameel Al Ramahi, CEO of Masdar, stated that the company will continue its massive investments.
Those investments will be in the Middle East, Europe, and the United States, the second-largest renewable energy market globally after China.
Competition in Renewable Energy Intensified
He added that by 2030, “the Middle East is expected to account for about 30% to 35% of our energy production.
I would say Europe will account for around 20%.
While 20% to 25% in the United States, and Asia will also play a significant role.
This is how the geographical distribution looks.”
Masdar CEO confirmed that competition in the renewable energy sector has intensified.
Due to private equity firms and other investors in recent years.
He said: “I see this as very positive,” noting that it wasn’t long ago when banks were reluctant to fund renewable energy projects.
“At Masdar, we are not financial investors”
He added:
“But it is clear that this has led to increased asset valuations, which could also pose a problem.
For instance, when private equity firms exit, they sell assets to another party.
If that party lose money, the market reacts in the opposite direction.
Then the market adjusts, and funds start moving elsewhere.”
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Al Ramahi explained that renewable energy is ultimately a utility business that is expected to generate single-digit returns.
He concluded:
“At Masdar, we are not financial investors.
Of course, we invest a lot of capital, but we are strategic investors.
Our returns are always compressed because we are a utility company.
We are not going to recycle these projects after four or five years.”
