The News
Gulf countries may be best known for exporting oil and gas, but these days their expertise in developing huge renewable energy projects is also in high demand.
A case in point: Abu Dhabi’s renewables giant Masdar has signed a $15 billion deal to develop up to 1 gigawatts of clean energy in the Philippines between now and 2030.
The deal covers solar and wind power plants, as well as battery energy storage systems (BESS) to ensure that electrons will still be flowing even if the sun isn’t shining and the wind isn’t blowing.
A second case in point: Masdar is also backing an ambitious $1 billion wind and solar power project in Europe, with clean energy being generated in Albania and then sent across the Adriatic via a subsea cable to Italy.
The deal should see electricity transmitted by 2028. It’s not clear just how much power will be involved, but the partners are talking about a “gigawatt-scale” program.
Masdar signed a preliminary agreement with the Albania Power Corp. in November, but the Italian connection is a new element.
Know More
Masdar already has a presence in both Asia and Europe: it has a large floating solar PV plant in Indonesia and is developing 10 gigawatts of projects in Malaysia. It hopes to have a global portfolio of 100 gigawatts by the time the Philippines project is complete.
Projects are also underway in Greece and Serbia, involving more than 6 gigawatts of power by 2029.