Thursday, July 18, 2024

Masdar Al Emirati: We are looking to expand into Saudi Arabia as a strategic market for renewable energy targets.


Abdulaziz Al-Mubarak, managing director and regional director of Abu Dhabi Future Energy Company, said the company wants to expand significantly in Saudi Arabia and compete for long-term renewable energy projects. The Saudi market is strategic.

Among these projects is Amala, a luxury resort project on the kingdom’s northwest coast in partnership with Saudi Red Sea International, which has signed a 25-year deal with Masdar and Electricité de France to generate up to 410,000 megawatts a year. Renewable energy in Amala is enough to supply… energy for ten thousand households for a whole year.

Al-Mubarak said in an interview during the Future Energy and Solar Energy Expo in Riyadh, “There is more than one technology that can help generate clean energy around the clock. There is a power plant of 250 MW and batteries. 700 MW every hour, and a biodiesel generator if needed, with a very low percentage of utilization…With these three technologies, the energy for the Amala project can be generated renewable 24 hours a day. energy.”

The scope of the AMAALA agreement covers four technologies: power generation through a solar farm, a battery energy storage system that can use solar energy 24 hours a day, renewable energy desalination through reverse osmosis, and a wastewater treatment plant.

Another project, the Red Sea Project, has implemented a similar model.

Masdar expands to Saudi Arabia

Al-Mubarak confirmed that Saudi Arabia’s Masdar wants to quadruple the number of employees by mid-2024, adding that renewable energy projects in the kingdom will come faster and bigger.

“As an Emirati company based in Saudi Arabia, this requires us to build our internal capabilities and resources at the source of Saudi Arabia to meet the huge demand from the Kingdom.”

See also  Gold prices in Lebanon today, August 30, 2021 Monday

Al-Mubarak also said that Masdar is among the companies nominated as one of the developers of the Tabarjal project and the Hanaqiya project, one of the 1,500 MW solar power generation projects in Saudi Arabia.

Notably, the project at Hanakia has a capacity of 1,100 MW, while the project at Tabarjal has a capacity of 400 MW.

Responding to the rapid pace of renewable energy tenders by customers such as NEOM, Masdar intends to play a key role in Saudi Arabia’s growing commercial and industrial renewable energy sector.

Al-Mubarak adds: “As a leading application development company in Saudi Arabia, Mastar can offer competitive advantages in the technology and business sector. We are highly focused on local technology and knowledge transfer and have a strong training program.”

Al-Mubarak emphasized that Masdar will play a key role in Saudi Arabia’s goal of increasing its clean energy generation capacity to 100 gigawatts by 2030.

Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

Share post:


More like this

Embrace the Adventure: Discover Dubai’s Dune Buggy Tours

Introduction to the Dubai Dune Buggy Tour Buckle Up, Adventure...

Why Estonia is the Perfect Launchpad for Luxury Brands

The world of luxury fashion is synonymous with elegance,...

The Real Benefits of Being a VIP in the Online Casino Scene

Becoming a VIP can be a long process that...

The Evolution of Online Casino Bonuses: Trends and Future Predictions

Online casino bonuses have transformed from basic sign-up offers...