Monday 27 June 2022 - 2:43:50 pm

Masdar, National Petroleum Construction Company to explore renewable energy opportunities


ABU DHABI, 13th May, 2022 (WAM) -- Masdar on Friday announced that it has signed an agreement with the UAE-based National Petroleum Construction Company (NPCC), a subsidiary of National Marine Dredging Company (NMDC), to explore collaboration in offshore wind, green hydrogen, and other renewable energy technologies.

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, and Ahmed Al Dhaheri, Chief Executive Officer of NPCC, signed the Memorandum of Understanding on behalf of their respective organisations, at an event held in Masdar's head office in Masdar City.

The companies will initially focus on collaboration in offshore wind and will also explore extending their efforts to cover other sectors, including green hydrogen production and battery storage technologies.

Al Dhaheri commented, "NPCC continually explores new opportunities that align with our resources and engineering expertise in decarbonisation projects supporting the UAE's climate change action initiatives and long-term sustainable development vision. Partnering with Masdar will undoubtedly contribute towards advancing energy transition in the country and open new avenues for clean energy integration and adoption."

Chief Executive Officer of Masdar said, "Masdar and NPCC share a common commitment to advancing the UAE's leadership position in the energy sector and to driving sustainable growth. By leveraging each other's world-class expertise in our respective fields, our combined efforts could play a vital role in achieving the UAE's clean energy objectives and support our nation's net-zero commitment."

Masdar is a major developer and investor in wind projects, including a stake in the London Array, one of the largest offshore wind farms in the world, and in Hywind Scotland, the world's first floating offshore wind farm, which became operational in 2017.

This year, Masdar signed an agreement with Cosmo Energy Holdings Co., one of Japan's largest energy companies, to explore the development of renewable energy initiatives, including offshore wind projects, in Japan.

Masdar is also working in green hydrogen development with several international partners. In December, it formed a strategic alliance with France's ENGIE to co-develop a UAE-based green hydrogen hub, with a planned investment in the region of US$5 billion. Masdar and Hassan Allam Utilities last month co-signed agreements with leading organisations in Egypt related to the development of green hydrogen production plants in the country, targeting an electrolyser capacity of 4 gigawatts (GW) by 2030.

 

WAM/Esraa Ismail/Rola Alghoul