Masdar demonstrates leadership in energy with excellence award

Masdar, one of the world’s fastest-growing renewable energy companies, has received the coveted ‘Award of Excellence - Power’ at the S&P Global Platts Global Energy Awards 2021, beating companies from across the entire energy sector and demonstrating its leadership in clean energy. The US-based event is one of the most prestigious for the global energy industry.

Running for 23 years, the Global Energy Awards honour organisations and individuals in the energy industry who are dedicated to achieving excellence. Winners are selected by an impartial panel of impartial panel of international energy experts whose background and experience include regulation, policy-making, corporate leadership, trading, and strategic consulting.

Philip Haddad, President and CEO of Masdar Americas, was presented with the award at a gala ceremony, held on Thursday evening on Wall Street, New York, attended by many of the leading figures in the global energy industry.

“We are at a pivotal stage for the energy industry - and indeed for the world. Energy companies face a range of challenges that we must work together to overcome if we are to deliver a more sustainable future,” said Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar. “Winning this high-profile award is recognition of the dedication and commitment of our employees around the world to develop innovative solutions, the increasing impact that we are having on nations’ clean energy objectives as we expand our reach across the globe, and to the support and vision of the UAE leadership. I look forward to Masdar scaling even greater heights in 2022!” Masdar’s winning submission for the Award highlighted the company’s 15-year track record of delivering, commercially viable, utility-scale renewable energy projects across the globe - covering almost 40 countries - and a portfolio covering solar, wind, waste-to-energy, mobility, energy storage, energy efficiency, desalination, green hydrogen, and sustainable urban development.

Masdar has more than doubled the capacity of its renewable energy portfolio within the last two years, today investing or committing to invest in projects with a combined value of more than $20 billion. The capacity of projects in operation or under development is close to 14 GW, and combined they displace almost 19.5 million tonnes of CO2 per year.

The Award of Excellence - Power is open to all types of power producers, utilities, system operators and regional market entities. Companies were judged on a range of criteria, including challenges faced, financial results, innovation, operational excellence and adaptability, and strategic vision.

Meanwhile Masdar, one of the world’s leading renewable energy companies, and Taaleri SolarWind II Fund, which invests in utility-scale wind and solar assets, formally inaugurated the wind farms that they jointly own in Poland.

The inauguration ceremony for the Mlawa and Grajewo wind farms was held at the Polish Pavilion at the Dubai Exhibition Centre, as part of the celebrations for Poland’s National Honour Day at Expo 2020 Dubai. The event was attended by Peter Ramsay, Chief Executive Officer of Taaleri Group, Niall Hannigan, Chief Financial Officer of Masdar, and Jakub Slawek, Chargé d’Affaires of the Embassy of Poland, along with other senior executives and officials.

In January, Masdar and Taaleri SolarWind II Fund announced that they had each acquired a 50 per cent stake in the projects, marking their first investment in the Polish renewable energy market. The 37.4-megawatt (MW) Mlawa wind farm is located in Mazowieckie in northern Poland, while the 14 MW Grajewo project, which comprises two wind farms, is based in Podlaskie, in the north-east. Combined, the projects produce enough electricity to supply approximately 90,000 households in Poland, and offset 146,000 tonnes of carbon dioxide each year.

Niall Hannigan, Chief Financial Officer of Masdar, said, “This event marks a key milestone in Poland’s renewable energy journey and demonstrates Masdar’s commitment to the nation’s climate action objectives. We look forward to expand our presence in the Polish renewable energy sector and to strengthen our strategic partnership with Taaleri Energia through our joint venture, Masdar Taaleri Generation (MTG).”

“This investment in Polish wind is underpinned by the increasing demand for clean energy and by a combination of the Contracts for Difference scheme and the availability of commercial offtake contracts in the Polish market. It also further demonstrates the value of our joint venture with Masdar,” said Taaleri Energia’s Managing Director, Kai Rintala.

Masdar and Taaleri, through MTG, are working together on a number of projects across Europe, with Masdar and Taaleri Energia announcing in May 2021 an agreement to co-develop a 65 MW solar photovoltaic (PV) power plant in Greece. The project, marking the parties’ first investment in Greece, will be developed through a joint venture between the two companies, alongside two local partners. Masdar and Taaleri Energia are partners in the 158 MW ?ibuk 1 wind farm in Serbia, and in the 200 MW Baynouna Solar Energy Project, the largest of its kind in Jordan.