Masdar joins with clean energy firms to explore opportunities in Israel, China

One of the world’s leading renewable energy company, Masdar has joined forces with France-based EDF Renewables to explore renewable energy opportunities in Israel and support the country’s clean-energy objectives.

As per the agreement signed by the companies, Masdar and EDF Renewables in Israel, a wholly-owned subsidiary established in 2010, will come together on existing clean energy programs and projects under development as well as partners in new programs announced by the government of Israel.

Israel is aiming to meet 30 percent of its energy requirement from renewable sources by 2030, up from a previous target of 17 percent, as the country is planning to reduce its coal consumption. Achieving the new target will require an additional 15 gigawatts (GW) of solar capacity being developed over the period.

Mohamed Jameel Al Ramahi, CEO of Masdar and Bruno Bensasson, CEO of EDF Renewables, signed a memorandum of understanding (MoU) at a virtual ceremony held on the sidelines of Abu Dhabi Sustainability Week (ADSW) 2021.

Speaking of the agreement, Dr. Yuval Steinitz, Israel’s Minister of Energy, stated that, “The new partnership between Masdar and EDF, an international company that invests in renewable energy around the world and operates in Israel for a decade, is an expression of confidence in Israel’s energy market and will help us achieve our goal of becoming a world leader in solar energy within six to seven years.”

“The UAE and Israel have embarked on a new era of co-operation on renewable energy and associated technologies, which will benefit both our nations and support our clean-energy objectives. Israel is known for its innovation ecosystem and we look forward to working in partnership with EDF Renewables Israel on developing solutions that will drive the energy transition. This also strengthens our already powerful partnership with EDF Renewables, with whom we are already working together on projects across the Middle East and North Africa, and in North America.”

Furthermore, Masdar has also signed an MoU with China Gezhouba Group International Engineering Company (CGGC INTL), to discover the potential areas of partnership on renewable energy projects across the globe.

“CGGC is one of the world’s leading international engineering companies, and is active in many sectors that Masdar is interested in, including renewable energy and urban communities both of which are key to sustainable development,” said Al Ramahi.

Currently, Masdar is actively operating in over 30 countries around the world, invested in projects totaling 10.7GW in capacity worth up to $20 billion. The company is looking for global potential areas to collaborate on and concrete projects that could be mutually beneficial.

Commenting on the partnership Lyu Zexiang, chairman of CGGC INTL stated that, “Masdar is a key partner for CGGC INTL, we share the same green and sustainable development goals. As the world’s leading energy construction company, Energy China Gezhouba International Corporation looks forward to working with our partners to present more and more clean, sustainable landmark projects, contributing to global green development.”