emirates7 - Abu Dhabi Future Energy Company PJSC – Masdar, has published its 12th Annual Sustainability Report, showcasing the company’s strengthened position as a global leader in clean energy last year. The report highlights record growth in Masdar’s project portfolio and the expansion of its international presence through major acquisitions in Europe and the United States.
The report emphasizes Masdar’s ongoing progress across key sustainability dimensions, including environmental performance, social responsibility, ethical business practices, and workforce diversity. It also underscores the company’s leadership in sustainable finance, notably through the expansion of its green bond program in 2024.
In 2024, Masdar achieved a historic 62% increase in portfolio capacity, bringing its operational, under-construction, and advanced pipeline capacity to 51 gigawatts (GW), already more than halfway toward its 2030 goal of 100 GW. The total capacity for operational and under-construction projects nearly doubled to 32.6 GW, producing 29,225 gigawatt-hours (GWh) of clean electricity and avoiding 15.5 million tonnes of carbon dioxide equivalent emissions.
Strategic acquisitions played a key role in Masdar’s growth last year. In Europe, Masdar acquired Greece’s TERNA ENERGY for €3.2 billion, strengthening its foothold in the region. In the United States, it secured a 50% stake in Terra-Gen, one of the country’s largest independent renewable energy producers. This acquisition not only contributes to Masdar’s global capacity growth but also supports collaboration between the UAE and the US in delivering reliable, affordable, and sustainable energy.
Masdar further expanded its presence in Europe’s Iberian Peninsula by acquiring Saeta for US$1.4 billion and acquiring a 49% stake in a 2 GW operational solar portfolio from Endesa S.A.
Mohamed Jameel Al Ramahi, Masdar’s CEO, stated, “2024 was a pivotal year for Masdar as we grew our presence in key international markets, strengthened our financial profile, and launched initiatives reflecting our commitment to responsible growth and inclusive progress. As a global investor, developer, and operator, we are driving impact at scale and helping shape the future of clean energy. We will continue to innovate in the sector and remain a trusted partner for governments and communities worldwide.”
Masdar remains committed to diversity and inclusion, with women now representing 20% of its management team. The company also prioritizes empowering local communities through sustainable urban development and initiatives that promote inclusive energy access across its projects.
The report emphasizes Masdar’s ongoing progress across key sustainability dimensions, including environmental performance, social responsibility, ethical business practices, and workforce diversity. It also underscores the company’s leadership in sustainable finance, notably through the expansion of its green bond program in 2024.
In 2024, Masdar achieved a historic 62% increase in portfolio capacity, bringing its operational, under-construction, and advanced pipeline capacity to 51 gigawatts (GW), already more than halfway toward its 2030 goal of 100 GW. The total capacity for operational and under-construction projects nearly doubled to 32.6 GW, producing 29,225 gigawatt-hours (GWh) of clean electricity and avoiding 15.5 million tonnes of carbon dioxide equivalent emissions.
Strategic acquisitions played a key role in Masdar’s growth last year. In Europe, Masdar acquired Greece’s TERNA ENERGY for €3.2 billion, strengthening its foothold in the region. In the United States, it secured a 50% stake in Terra-Gen, one of the country’s largest independent renewable energy producers. This acquisition not only contributes to Masdar’s global capacity growth but also supports collaboration between the UAE and the US in delivering reliable, affordable, and sustainable energy.
Masdar further expanded its presence in Europe’s Iberian Peninsula by acquiring Saeta for US$1.4 billion and acquiring a 49% stake in a 2 GW operational solar portfolio from Endesa S.A.
Mohamed Jameel Al Ramahi, Masdar’s CEO, stated, “2024 was a pivotal year for Masdar as we grew our presence in key international markets, strengthened our financial profile, and launched initiatives reflecting our commitment to responsible growth and inclusive progress. As a global investor, developer, and operator, we are driving impact at scale and helping shape the future of clean energy. We will continue to innovate in the sector and remain a trusted partner for governments and communities worldwide.”
Masdar remains committed to diversity and inclusion, with women now representing 20% of its management team. The company also prioritizes empowering local communities through sustainable urban development and initiatives that promote inclusive energy access across its projects.