ABU DHABI, February 14th, 2022 (WAM) — Masdar, the Abu Dhabi Future Energy Company, is critical to the UAE leadership’s objective of promoting relevant projects and innovation.
Since its inception in 2006, the firm has helped the UAE promote sustainability and climate action.
For more than 15 years, Masdar has made considerable efforts to foster innovation. Through a strategic arrangement between the Abu Dhabi National Oil Firm (ADNOC), TAQA, and Mubadala to become shareholders in Masdar, it has enhanced its position as a major worldwide company in renewable energy. This will contribute to the company’s renewable energy capacity reaching more than 50 gigatonnes by 2030.
Hydrogen that is green Hydrogen is the most plentiful element in the universe and may be utilized in many places to replace traditional fuel sources. Green fuels derived from renewable energy sources are projected to play a key part in carbon-reduction initiatives for a variety of industries, including long-distance transportation, shipping, and aviation. By 2050, hydrogen is predicted to account for up to 18 to 25% of world energy needs. More than 30 nations are developing hydrogen plans and intend to carry out more than 228 large-scale projects along the hydrogen value chain.
According to an international report titled “The UAE’s Role in the Global Hydrogen Economy,” the UAE has the foundations and competitive advantages to be a leading country in terms of producing and exporting low-carbon hydrogen, particularly given its resources and infrastructure to exploit this new type of fuel and drive the growth of the hydrogen market in the Middle East, North Africa, and the rest of the world. The country’s production of green hydrogen is based on an abundance of solar power and appropriate places in the country, as well as low-cost energy generated by solar power.
The UAE has always placed a premium on climate action and has used technological solutions to mitigate the consequences of climate change. It is devoted to developing new business possibilities to decrease carbon emissions on a local and global scale.
Masdar has been researching hydrogen production and generating prospects for over a decade. Green hydrogen, according to the International Renewable Energy Agency (IRENA), can compete with fossil fuel sources by 2030 provided this sector is effectively supported. Hydrogen has the potential to become the principal fuel for a green economy in the future. When the world aims to meet climate-related goals and create a more sustainable future for everybody, it will be a vital component in decarbonisation initiatives.
Masdar is collaborating with local and international partners on several innovative green hydrogen initiatives, including the establishment of a pilot plant in Masdar City, Abu Dhabi’s leading sustainable city, to explore opportunities for developing green hydrogen, sustainable fuels, and producing kerosene from electricity for transportation and aviation purposes.
The initial phase of the project focuses on creating green hydrogen, which will be turned into sustainable fuel for aeroplanes and utilized for various applications and experiments such as fueling automobiles and buses within Masdar City. Participating firms will assist lower the UAE’s carbon footprint, raise local demand for sustainable fuel sources, and provide fundamental knowledge and technical experience to help the UAE generate this sort of fuel domestically.
In September 2021, bp, ADNOC, and Masdar signed three strategic collaboration agreements to broaden the scope of the UAE-UK bilateral relationship in areas of sustainability, including the creation of two clean hydrogen centres with a capacity of 2 gigatonnes in both countries.
Masdar announced its collaboration with Engie, a global pioneer in providing low-carbon energy services, at Abu Dhabi Sustainability Week. The two firms struck a deal with Fertiglobe, the world’s largest commercial marine exporter of urea and ammonia, to build a globally competitive green hydrogen production plant in the UAE with a capacity of 200 megawatts that would enable green ammonia production.
Masdar also signed an agreement with Cosmo Energy Holdings Co., one of Japan’s largest energy companies, to explore opportunities for drafting renewable energy projects in Japan, including those in the field of offshore wind energy, as well as joint projects in hydrogen, ammonia, carbon capture and storage, energy storage battery systems, and energy trading activities.
Advancing Innovation Masdar has been determined to develop an innovation culture and to empower young people to drive its future sustainability initiatives from its inception. During Abu Dhabi Sustainability Week, the corporation held a variety of international events that were attended by presidents of nations, politicians, and global business leaders, serving as a forum for exchanging ideas, expertise, and innovation.
The most recent Abu Dhabi Sustainability Week concentrated on implementing effective measures and processes in technology, innovation, international collaboration, leadership, and economic growth.
Furthermore, the event’s “Young 4 Sustainability” session played an important role in exploring youth opportunities in the green economy and promoting youth leadership in innovation.
Masdar’s strategic investments in renewable energy are intended to promote national innovation activities. The firm is a leader in promoting efficient and sophisticated technology on a local, regional, and international scale.
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