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Masdar inks renewable energy framework deal

Abu Dhabi, January 22, 2014

Abu Dhabi's renewable energy company Masdar has signed a framework agreement with Energias De Portugal (EDP), Portugal’s largest utility company, to explore opportunities to deploy large-scale renewable energy projects and promote renewables as source of foreign aid.

The agreement was signed by Jorge Cruz Morais, the director-general of EDP Internacional and Masdar CEO Dr Sultan Al Jaber at the ' World Future Energy Summit',  which concludes today (January 20).

The framework outlines geographic opportunities for co-development – for both wind and solar power – in countries that have supportive regulatory frameworks.

The co-operation will also explore projects to develop renewable power and improve energy access where it results in tremendous economic and social impact for developing countries. The areas of focus include Latin America, Africa, Middle East and Europe.

“This partnership lays the foundation for Masdar and EDP to work together and find commercially-viable opportunities to deploy clean, reliable renewable energy,” remarked Dr Al Jaber. "It’s these types of collaborative efforts that enable us to diversify the global energy mix with sustainable power supplies," he added.

For developing countries, Dr Al Jaber said, the access to clean energy can play a vital role in securing a pathway for economic growth and social opportunity.

“We look forward to working with EDP and combining our expertise to deploy renewable energy projects,” he added

Recognized for the second consecutive year as the Dow Jones Sustainability index’s leading company in the electricity sector, EDP is the third largest developer of wind energy in the world and one of Europe’s leadingenergy companies.

Cruz Morais said the co-operation agreement enhances the capacity of both parties for future development of large-scale renewable investments, while reinforcing the ability to promote sustainability and energy access for development countries.

In 2013, Masdar added 750 MW of clean energy capacity to the global grid, completing projects in the UAE, UK, Mauritania and Seychelles. Today’s co-operation lays the foundation for Masdar and EDP to accelerate the deployment of renewable energy globally.

Countries and regions of specific focus include: Mexico, Uruguay, Colombia, Peru, Chile, Panama, South Africa, Morocco, Saudi Arabia, Jordan, Scotland, Turkey and Baltic and Balkan regions.-TradeArabia News Service




Tags: Renewable energy | Masdar | Portugal |

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