RIYADH: UAE-owned renewable energy company Masdar wants to see its global projects produce up to 200 gigawatts of electricity, the country’s Industry Minister Sultan al-Jaber said on Monday in Dubai.
Al-Jaber, who is also the CEO of Abu Dhabi National Oil Company (ADNOC), was speaking at the Abu Dhabi Sustainability Week Summit at the Expo 2020 site in Dubai.
He said Masdar has invested in wind and solar projects in 40 countries around the world, according to Reuters, adding: “Our ambition is to accelerate this development globally to reach 100 GW and ultimately double that again to 200 GW.”
No timeframe was set out for the growth, but last month the Abu Dhabi government confirmed plans to increase Masdar's capacity to more than 50 gigawatts by 2030.
Al-Jaber expects at least $3 trillion to be invested in renewable energy over the next 10 years. “We expect a bright future for the renewable energy sector,” he said.
