Can you tell us a little bit about the impact you’re making at Masdar?
Mohammad Abdelqader El-Ramahi: I began my career at Masdar in 2011, when the company was just starting its ascent in the global renewable energy market. Our first project was a 10-megawatt solar PV plant in Masdar City, commissioned in 2009. Fast forward a decade, and we are now a global player with a presence in over 40 countries and a portfolio of more than 20 gigawatts, representing more than $30 billion in investments.
Our success is largely due to the support of our shareholders; our founding shareholder, Mubadala, which was joined by UAE energy leaders ADNOC and TAQA in 2022. With these three industry giants backing us, we are now aiming for a 100-gigawatt target by 2030.
Please elaborate on the innovations and specific projects Masdar is currently working on.
Mohammad Abdelqader El-Ramahi: We have pioneered several innovative projects, including the implementation of bifacial solar technology in the region. Bifacial panels capture sunlight on both sides, increasing efficiency. We first deployed this technology at the Mohammed bin Rashid Al Maktoum Solar Park. The first 200MW stage of Phase 3 of the same project is also one of the largest solar power projects in the world to use technology that tracks the path of the sun to maximize output.
Other notable projects include our collaboration with Equinor on Hywind, the world’s first floating offshore wind farm off the coast of Scotland and Masdar’s development of the Cirata floating solar PV plant in Indonesia.
These projects exemplify our mission to move innovations from research and development into commercially viable, large-scale solutions.
What is Masdar’s mission and vision for the future?
Mohammad Abdelqader El-Ramahi: Masdar was created as part of the UAE’s vision to diversify its economy from hydrocarbons to a knowledge-based economy.
We are also committed to building the equitable energy system of tomorrow – one that leaves no communities behind, ensures reliable access to clean, affordable energy, and supports growth and job creation.
Our goal is to continue pioneering in the renewable and clean energy sectors, contributing to the UAE’s global leadership in sustainable energy and supporting the tripling of global renewable capacity as part of the historic UAE Consensus agreed at COP28.
What are the challenges with scaling these projects, both in the UAE and globally?
Mohammad Abdelqader El-Ramahi: The main challenges are technological reliability, financing, scalability, and securing offtake agreements. These were the same challenges we faced with renewables a decade ago and now encounter with green hydrogen. We are committed to overcoming these by making bold investments in the future, just as we did with renewables, and positioning the UAE as a global hub for green hydrogen production and export.
How does Masdar address concerns about water usage in green hydrogen production in the Middle East?
Mohammad Abdelqader El-Ramahi: Water desalination technology has evolved significantly, becoming more sustainable and cost-effective. Electrolysis, the process used to produce green hydrogen, requires minimal water, especially with air-cooled equipment. This should help mitigate concerns over water usage.
Is the UAE on target for its decarbonization goals?
Mohammad Abdelqader El-Ramahi: The UAE is committed to achieving its targets. We were the first country in the region to commit to net zero by 2050 and have made significant progress towards this goal. COP28 in the UAE underscored our commitment with concrete actions and targets, ensuring that we will meet or even surpass our decarbonization goals ahead of schedule.
What are the advantages for international collaborators looking to invest in the UAE and with Masdar?
Mohammad Abdelqader El-Ramahi: The UAE offers strategic long-term partnerships, value creation, and in-country value. Our collaborations are designed to be mutually beneficial, helping partners achieve their objectives while contributing to our own goals. We focus on adding value through technology, human resources, and creating new industries.
Is there collaboration between Masdar and Oman?
Mohammad Abdelqader El-Ramahi: Absolutely. As an example, the 50MW Dhofar Wind Farm in Oman was Masdar’s first large-scale wind farm in the Gulf Cooperation Council. Oman is a strategic partner within the GCC, and the UAE has significant investments in Oman through various entities, including TAQA, ADQ, and Mubadala Petroleum.
