Mubadala Energy and Masdar Join Forces on Decarbonization and Energy Transition undertakings
Mubadala Energy and Masdar Collaborate on Decarbonization and Energy Transition
Mubadala Energy, a leading energy company based in Abu Dhabi, and Masdar, a clean energy powerhouse, have announced a partnership to explore opportunities in decarbonization and energy transition.
Dr. Bakheet Al Katheeri, Chief Executive Officer of UAE Investments Platform at Mubadala Investment Company, stated that energy transition and decarbonization are key drivers shaping the global economy. Mansoor Mohamed Al Hamed, CEO of Mubadala Energy, expressed alignment with the UAE's net zero ambitions and a clear strategy to recalibrate the business to play a more proactive role in supporting the energy transition towards lower carbon energy.
The collaboration between the two companies will focus on Mubadala Energy's core regions, including the Middle East and North Africa (MENA) and Southeast Asia (SEA), with the option of exploring other regions of mutual interest. The partnership will cover a range of synergistic areas, including technical solutions to decarbonize or improve the energy efficiency of upstream oil and gas assets, potential joint investments in new energy and lower carbon projects, and collaboration on emissions management initiatives.
Masdar, a joint venture owned by Mubadala, TAQA, and ADNOC, is committed to advancing the UAE's net-zero journey and creating value for Abu Dhabi by diversifying the economy. Masdar has been actively developing programs in support of global decarbonization efforts since 2006 and has a renewed effort to grow its renewable energy portfolio capacity to 100 GW by 2030 and become a leading green hydrogen producer by that year.
Key initiatives and business synergies include decarbonization and renewable energy growth, energy transition projects, innovations in smart mobility and autonomous technology, and joint ventures and financing solutions. Masdar's acquisition of Saeta, a platform operating in Spain and Portugal, helps accelerate decarbonization efforts in the Iberian market as part of Masdar’s broader European expansion. This builds on Mubadala’s industrial and investment capabilities to scale renewable assets and advanced energy technologies.
Masdar and Mubadala are advancing a portfolio that includes solar, wind, and green hydrogen projects aligned with net-zero goals. Their joint projects capitalize on Mubadala’s strong regional influence and Masdar’s technology-driven approach to clean energy. Masdar City, a flagship project under Masdar and Mubadala, is leading trials of Level 4 autonomous vehicles in partnership with Solutions+, a Mubadala company. These trials align with UAE’s Net Zero by 2050 Strategic Initiative and promote smarter, sustainable urban ecosystems by integrating AI and smart infrastructure in mobility.
The collaboration between Masdar and Mubadala Energy has the potential to greatly accelerate efforts towards decarbonization and energy transition. The landmark agreement, announced on July 17, 2023, in Abu Dhabi, provides further momentum to Mubadala Energy's efforts to expand into new energy sectors. The partnership aligns with both parties' shared ambition to position the UAE at the forefront of the global energy transition.
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[1] Mubadala Investment Company. (n.d.). Mubadala and Masdar Announce Collaboration to Advance the Energy Transition. Retrieved from https://www.mubadala.com/en/newsroom/press-releases/mubadala-and-masdar-announce-collaboration-to-advance-the-energy-transition [2] Masdar. (2022). Masdar City. Retrieved from https://www.masdar.ae/en/our-projects/masdar-city [3] Emerge. (n.d.). Emerge. Retrieved from https://emerge-ventures.com/ [4] Emirates Development Bank. (n.d.). Financing Solutions. Retrieved from https://www.edb.ae/en/services/financing-solutions [5] Solutions+. (n.d.). Autonomous Mobility. Retrieved from https://solutionsplus.ae/our-services/autonomous-mobility/
- The collaboration between Mubadala Energy and Masdar, focusing on green hydrogen production and various energy transition projects, may lead to Masdar becoming a leading green hydrogen producer by 2030, contributing significantly to the UAE's net-zero ambitions.
- In the scope of their partnership, these innovative companies, Mubadala Energy and Masdar, are planned to explore synergies in areas such as sports, like Masdar City's trials of Level 4 autonomous vehicles in partnership with Solutions+, aiming to promote smarter, sustainable urban ecosystems by integrating AI and smart infrastructure in mobility, ultimately aligning with the UAE's Net Zero by 2050 Strategic Initiative.
