Abu Dhabi Future Energy Company (Masdar) has signed a Memorandum of Understanding (MoU) with RWE to support the expansion of renewables in Germany and Europe.
Under the MoU, the two companies will collaborate to explore and secure investments in battery energy storage system (BESS) projects across Germany, advancing energy transformation on the continent.
Masdar will explore investing by 2030 in existing BESS projects in the country owned by RWE, with a capacity of up to 1 gigawatt (GW). In addition, RWE and Masdar will assess the joint development of new BESS projects of up to 1 GW by 2035.
Development of battery storage systems will support the expansion of renewable energy by balancing intermittent supply, therefore ensuring a stable, affordable, and secure power supply in Germany. This will also help to meet the growing demand for reliable power from new data centers.
Mohamed Jameel Al Ramahi CEO – Masdar
“Battery storage is critical to unlocking renewable energy deployment and delivering clean, reliable, affordable electricity for the benefit of consumers, businesses, and communities. Germany is an important market for Masdar as we progress toward our target of 100 gigawatts of capacity worldwide by 2030, and we look forward to building on our already powerful partnership with RWE to support energy transformation in Germany and across Europe.”
Dr. Markus Krebber, CEO of RWE AG, said that, “The MoU with Masdar reflects the importance RWE and Masdar place on flexible energy storage as a foundation for grid stability, security of supply, and the integration of renewable energy – core pillars of Germany’s climate neutrality and energy policy objectives.”
“Our collaboration is underpinned by a strong track record, most recently demonstrated by our joint success in the latest UK offshore wind auction for the Dogger Bank South projects. Together, we are making significant progress towards a secure and sustainable energy future for Europe,” Dr. Krebber added.
