Ryse Energy, a renewable energy firm founded in the United Kingdom, has relocated its worldwide operations to Masdar City in order to capitalise on emerging prospects in the global off-grid energy industry.
“Ryse Energy is a global leader in renewable off-grid energy systems, and as a primary manufacturer of cutting-edge wind turbine technologies, we will be looking to manufacture and develop new innovations from our international headquarters within Masdar City and the UAE,” said Alistair Munro, Ryse Energy’s founder, and CEO.
Off-grid renewable power plants, also known as mini-grids, have the potential to power up to 500 million people by 2030, according to the business, citing a World Bank research. Throughout $220 billion in funding is required to establish around 210,000 mini-grid installations around the world.
“With recent wildfires damaging power lines to the national grid and interrupting power supply in North America and Australia,” the report stated, “mini-grids have been highlighted as a method to provide a safe and sustainable source of energy during such crisis scenarios.”
According to the corporation, the construction of mini-grids in Sub-Saharan Africa may also provide a dependable supply of electricity to healthcare institutions and support economic growth in the region.
“We are at… [one of] the most exciting eras of expansion, with over 860 enterprises calling Masdar City home,” said Abdulla Balalaa, Masdar’s interim executive director of sustainable real estate. “We look forward to assisting Ryse Energy’s business activities in the city as we work toward our common goal of providing clean, secure, and dependable energy generation to communities throughout the world in need.”
Renewable energy projects are gaining popularity throughout the world as technological advances make them cheaper.
According to the International Renewable Energy Agency, over half of the renewable energy capacity built-in 2019 was less expensive than the least priced coal plants.
Masdar, completely owned by Mubadala Investment Company, is financing a variety of renewable energy projects throughout the world with investments totaling over $14.3 billion.
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