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Jeddah - Yasmine El Tohamy - DUBAI: Abu Dhabi’s Masdar has announced the acquisition of 50 percent of a portfolio of clean energy projects in the US that have resulted in the creation of around 2,000 new jobs.
Masdar, owned by Abu Dhabi’s Mubadala Investment Co., has partnered with EDF Renewables North America, a subsidiary of French utility EDF Group, on eight renewable energy projects.
They include three wind projects in Nebraska and Texas, and five photovoltaic solar projects in California.
All three wind projects are in the final stage of construction, and are expected to begin commercial operations in the first quarter of this year.
Of the five projects in California, four started commercial operations in December 2020, and the final one will begin operations in December 2021.
“This is a significant milestone in our collaboration with EDF Renewables North America, with these projects now actively contributing to the US renewable energy objectives,” said Masdar CEO Mohamed Jameel Al-Ramahi.
“As the second-largest renewable energy producer in the world in terms of installed power capacity, the US offers considerable scope for further growth, and with President Joe Biden having made clean energy investment a key priority for his administration, we anticipate greater opportunities in this market.”
In total, the eight projects will displace more than 3 million metric tons of carbon dioxide annually, according to a report by WAM, the UAE state news agency.
Al-Ramahi told Reuters in July last year that Masdar was ahead of schedule in its bid to double its renewable energy capacity, and was looking at projects worldwide, including Saudi Arabia.
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