The report also includes planssourceTo expand its ambitious sustainable bond programme.
The annual sustainability report showed Masdar’s progress in implementing growth plans and raising the capacity of projects Energy clean capacity to 31.5 gigawatts in 2023, generating 26,700 gigawatts/hour of electricity, and further reducing Carbon emissions From 10 million tons to about 14 million tons.
The sustainability report, which covers Masdar’s global activities for the year 2023, highlights the company’s plans to issue… Green bonds With a value of $3 billion on the London Stock Exchange, with the aim of promoting investment in the renewable energy sector around the world.
Masdar’s growing portfolio, thanks to the important projects that began implementation in 2023, has contributed to making a tangible impact in advancing efforts. Sustainability Global.
Prominent projects were operated in new and existing markets, including the country The UAE United Arab Emirates and the Kingdom of Saudi Arabia Saudi Arabia And Egypt Indonesia and Azerbaijan.
Many agreements were also signed regarding the development of new projects.
Last year witnessed the inauguration Al Dhafra station Solar photovoltaic energy, which is the largest single-site solar power plant in the world, is located in the United Arab Emirates. The UAE Wind Energy Program has also been connected to the national electricity grid, which is the first program of its kind in the country.
The 145 MW Shirata plant, the largest floating solar power plant in Southeast Asia, has been commissioned.
Mohammed Jameel Al Ramahi, CEO of Masdar, said that Masdar’s annual sustainability report reveals the size of the exceptional growth that the company achieved during 2023, as it developed projects that contributed to increasing the capacity of its global clean energy portfolio by more than 50 percent.
He added that thanks to the support of companies contributing to Masdar, Masdar was able to enter new markets, develop pioneering clean energy solutions, as well as contribute a vital role in supporting the UAE’s efforts to enhance climate action.
Al Ramahi stressed that the report highlights Masdar’s firm commitment to adopting environmental, social and institutional governance standards in all aspects of its activities, which is evident through the pioneering green bonds initiative, which achieved the highest ratings, according to environmental, social and institutional governance standards.
Masdar’s sustainability report also includes the company’s rating of 2 and 71 from Fitch, the leading sustainable credit rating agency, which reflects Masdar’s good performance in the field of environmental, social and institutional governance, and the nature of its sustainable assets.
In 2023, Masdar became the first company in the EMEA region to obtain the Sustainability PurePlayer label, for companies whose activities focus on promoting environmental practices.
Masdar’s 2023 Sustainability Report, which is owned by leading Emirati companies in the energy and investment sector, namely TAQA, ADNOC, and Mubadala, reflects the UAE’s commitment to climate action, and Masdar’s role as a major contributor to achieving transformation in… The energy field in the UAE.
The facts presented in the report support the goal of tripling global renewable energy capacity, in line with the historic UAE agreement reached during the Conference of the Parties. COP28.
The report highlights Masdar’s global efforts, which underscore the importance of the UAE’s pioneering role in advancing the transformation of the energy sector.
Masdar has investment projects and partnerships in more than 40 countries around the world on 6 continents, with aspirations to enhance its production capacity to reach 100 gigawatts by 2030.
