Home Business Masdar plays key role in promoting sustainability, climate action

Masdar plays key role in promoting sustainability, climate action

by Dubai Forum
0 comment

ABU DHABI, 14th February, 2022 (WAM) — The Abu Dhabi Future Energy Company (Masdar) plays a crucial role in supporting the UAE leadership’s vision to promote relevant initiatives and innovation.

Since its establishment in 2006, the company has supported the UAE’s efforts to promote sustainability and climate action.

Masdar has exerted significant efforts to boost innovation for over 15 years. It has strengthened its stature as a leading international company in clean energy through a strategic agreement between the Abu Dhabi National Oil Company (ADNOC), TAQA and Mubadala to become shareholders in Masdar. This will help increase the company’s renewable power capacity to more than 50 gigawatts by 2030.

Green Hydrogen Hydrogen is the most abundant element in the universe and can be used as a substitute for traditional fuel sources in many areas. Green fuels produced from renewable energy sources are likely to play an important role in strategies aimed at reducing carbon emissions for many sectors, including long-distance transportation, shipping and aviation. Hydrogen is expected to represent up to 18 to 25 percent of global energy demand by 2050. More than 30 countries are drafting their hydrogen plans and planning to implement more than 228 large-scale projects across the hydrogen value chain.

An international report, titled, “The UAE’s Role in the Global Hydrogen Economy,” has revealed that the UAE has the foundations and competitive advantages to be a leading country in terms of producing and exporting low-carbon hydrogen, especially as it has the resources and infrastructure to exploit this new type of fuel and drive the growth of the hydrogen market in the Middle East, North Africa and the rest of the world. The country’s production of green hydrogen relies on the abundance of solar power and suitable areas in the country and low-cost electricity produced by solar power.

The UAE has always prioritised climate action and has adopted technology-based solutions to reduce the effects of climate change. It is committed to creating new economic opportunities to reduce carbon emissions both locally and internationally.

For over a decade, Masdar has explored hydrogen production and generation opportunities. According to the International Renewable Energy Agency (IRENA), green hydrogen can compete with fossil fuel sources by 2030 if the development of this sector is adequately supported. Hydrogen has the potential to become the primary fuel for a future green economy. It will be a critical factor to decarbonisation strategies when the world aspires to achieve climate-related goals and create a more sustainable future for all.

Masdar is working on several innovative initiatives in the field of green hydrogen, including the establishment of a pilot plant in Masdar City, the leading sustainable city in Abu Dhabi, to explore opportunities for developing green hydrogen, sustainable fuels, and producing kerosene from electricity for transportation and aviation purposes, in cooperation with local and international partners.

The project’s first phase is based on producing green hydrogen, which will be converted into sustainable fuel for aircraft and used for other applications and experiments to fuel vehicles and buses within Masdar City. Through this project, participating companies will help reduce the UAE’s carbon footprint, increase local demand for sustainable fuel sources, and offer basic knowledge and technical expertise to locally produce this type of fuel.

In September 2021, bp, ADNOC and Masdar signed three strategic cooperation agreements to enlarge the scope of the bilateral partnership between the UAE and the United Kingdom (UK) in areas of sustainability, including the development of two clean hydrogen centres in both countries with a capacity of 2 gigawatts.

During Abu Dhabi Sustainability Week, Masdar announced its cooperation with Engie, a global leader in providing low-carbon energy services. The two companies signed an agreement with Fertiglobe, the largest commercial marine exporter of urea and ammonia, to develop a globally competitive green hydrogen production plant in the UAE with a production capacity of 200 megawatts that supports green ammonia production.

Masdar also signed an agreement with Cosmo Energy Holdings Co., one of the largest energy companies in Japan, to explore opportunities for drafting renewable energy projects, including those in the field of offshore wind energy in Japan, and joint projects in hydrogen, ammonia, the capture and use of carbon storage, energy storage battery systems, and energy trading activities.

Supporting Innovation Since its establishment, Masdar has been keen to promote the culture of innovation and empower the youth to lead its future sustainability efforts. During Abu Dhabi Sustainability Week, the company hosted a number of international events attended by presidents of states, policymakers and global business leaders, representing a platform for exchanging views, knowledge and innovation.

The latest edition of Abu Dhabi Sustainability Week focussed on undertaking effective measures and procedures in technology, innovation, international cooperation, leadership and economic development.

Moreover, the “Youth 4 Sustainability” forum held on the sidelines of the event played a significant role in discussing youth opportunities in the green economy and reinforcing youth leadership in innovation.

Masdar’s strategic investments in renewable energy aim to support the national efforts in innovation. The company plays a leading local, regional and international role in promoting efficient and advanced technologies.

You may also like

Leave a Comment

About Us

Dubai Forum your daily news roundup covering news from Dubai, the United Arab Emirates and the Middle East region in general.

We share news about #people, #travel, #fashion, #startups and #Dubai #communities #DubaiForum

Newsletter