Masdar, EDF Renewables enter strategic alliance

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar and Bruno Bensasson, EDF Group Senior Executive Vice-President Renewable Energies and Chairman and Chief Executive Officer of EDF Renewables, signed a memorandum of understanding (MoU) at a virtual ceremony held on the side lines of Abu Dhabi Sustainability Week (ADSW) 2021.

Under the agreement, Masdar and EDF Renewables Israel, a wholly owned subsidiary established in 2010, will look to collaborate on existing renewable energy projects, and projects under development, while also exploring joint participation in new programs announced by the government of Israel. Israel is targeting 30 percent of its energy coming from renewable sources by 2030, up from a previous target of 17 percent, as it looks to phase out coal use. Achieving the new target will require an additional 15 gigawatts (GW) of solar capacity being developed over the period.

Speaking of the agreement, Dr Yuval Steinitz, Israel's Minister of Energy, said, "We are seeing the first fruits of the Abraham Accords in the field of energy! We welcome all investment that brings us closer to achieving the targets that I set for solar energy in Israel. The new partnership between Masdar from the United Arab Emirates 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."

Masdar and EDF Renewables are already partnering on a number of projects in the Middle East and North Africa region, including the Al Dhafra solar project – set to the be the world’s largest single-site solar plant. The companies are also collaborating on the 800-megawatt (MW) third phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, and are part of the consortium developing the largest wind farm in the Middle East, the 400MW Dumat Al Jandal project in Saudi Arabia.

Last year, Masdar and EDF Renewables also agreed to partner in eight renewable energy projects in the United States, including wind, solar, and battery storage assets, for a total combined capacity of 1.6 GW.