The memorandum of understanding was signed by Mohammed Jameel Al Ramahi, CEO of the company.source“, and Zhou Jun, Chairperson of the Board of Directors of the Silk Road Fund, on the sidelines of the activities of the Conference of the Parties.”COP29“In Baku.
Under the memorandum of understanding, Masdar and the Silk Road Fund will establish a strategic partnership focused on exploring opportunities for joint investment in projects. Renewable energy “Masdar” participates in it as an investor or undertakes the task of developing and operating it.
“and plans”Silk Road FundTo invest up to 20 billion Chinese yuan (about $2.8 billion) in joint projects with Masdar, while Masdar has significant investments in countries in the Middle East, Central Asia and Southeast Asia. And AfricaMany of them fall under the Belt and Road Initiative.
The company will continue Investment In these regions as part of its strategy to increase the total production capacity of its renewable energy project portfolio to 100 GW by 2030, while the Silk Road Fund owns renewable energy projects with a total capacity of more than 7 GW in the Belt and Road Initiative regions, including the Middle East, Africa, and Southeast Asia and Latin America.
Mohammed Jameel Al Ramahi said that the cooperation between Masdar and the Silk Road Fund, which invest in many renewable energy projects in emerging markets and the global South, is an important step that will give a major boost to efforts aimed at achieving the transition in the energy sector.
He added that Masdar looks forward to a successful and fruitful partnership with the Silk Road Fund through which the common goals and ambitions of both parties will be achieved, according to the Emirates News Agency.
For her part, Zhou Jun said that the UAE is a major contributor to the Belt and Road Initiative and one of the most prominent partners in the investment and trade sectors for China, noting that the partnership between the Silk Road Fund and Masdar reflects the commitment of both parties to developing sustainable energy solutions. Worldwide.
The Belt and Road Initiative links… Asia Europe, Africa and other regions around the world through a network of infrastructure projects and trade partnerships, while the Belt and Road Initiative constitutes a link to strengthen economic, trade and investment relations between participating countries and regions.
It is a state The UAE It has been an active partner since the launch of the Belt and Road Initiative, pumping $10 billion into a joint investment fund with China to support the initiative’s projects in East Africa.
Masdar, which was established in 2006, contributes to achieving the UAE’s vision and enhancing its pioneering role in the field of sustainability and climate action, by developing and investing in projects spread across more than 40 countries, while aiming to raise the total production capacity of its project portfolio to 100 gigawatts. By 2030, and to become a leading producer of green hydrogen by the same year.
