Refreshed Masdar brand unveiled for UAE’s new clean energy powerhouse
Abu Dhabi National Energy Company (TAQA), Mubadala Investment Company (Mubadala) and Abu Dhabi National Oil Company (ADNOC) recently announced today the successful completion of the Masdar transaction, following which they will all become shareholders in Abu Dhabi Future Energy Company (Masdar) – Abu Dhabi’s flagship clean energy company.
This transaction sees three Abu Dhabi champions combining their efforts to rapidly grow Masdar on a global scale under an expanded mandate covering renewable power, green hydrogen and other enabling clean energy technologies.
TAQA is taking the leading role in Masdar’s renewable business with a 43% shareholding, while Mubadala retains 33% and ADNOC holds 24%. ADNOC is taking the leading role in Masdar’s green hydrogen business with a 43% stake, Mubadala holding 33%, and TAQA 24%.
Mubadala established Masdar in 2006 to extend the UAE’s leadership role in the global energy sector, while helping drive the nation’s economic diversification and climate action agenda. Today, Masdar is active in more than 40 countries across six continents and has developed and invested in worldwide projects with a combined value of over USD 20 billion.
“For ADNOC, our participation in Masdar is an important pillar in our strategy to expand clean energy production, unlock new opportunities for industrial development and drive decarbonization,” stressed HE Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, Managing Director and Group CEO, ADNOC, and Chairman, Masdar.
“This significant milestone helps unlock synergies in Masdar’s continued growth journey and the UAE’s global energy leadership,” observed Khaldoon Khalifa Al Mubarak, Managing Director and Group CEO, Mubadala.
“Today, we stand as one of the largest integrated utility players in Europe, the Middle East, and Africa. Tomorrow, we will be known as a pan-regional low carbon power and water champion,” noted Mohamed Hassan Alsuwaidi, Chairman, TAQA.