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Tuesday 05 Jan 2016 - 11:16 Makkah mean time-25-3-1437
Masdar newable project (Image from Internet)
Abu Dhabi (IINA) – Masdar, also known as the Abu Dhabi Future Energy Company, expressed its interest to invest in the field of renewable energy in Morocco, Jordan and Egypt, as demand for clean energy surged in the region.
“Egypt, Jordan and Morocco are the three key markets in the Mena [Middle East and North Africa] region that Masdar is looking into very carefully for investment. There is plenty of potential in these countries for both solar and wind energies,” Chief Executive Officer Dr Ahmad Belhoul told Gulf News in an interview.
“Demand for energy is expected to double in the region by 2030. The majority will come from renewable energy. It makes sense for us to double our portfolio in the next ten years. We will be a big player in the market.”
The Abu Dhabi-based company will be focusing on both solar and wind as part of its expansion plans
The company launched a major wind project in Jordan last month, accounting for almost 6.5 percent of Jordan’s 1,800 MW renewable energy target for 2020.
Masdar has projects in the UAE, Seychelles, Samoa, Spain, UK, Oman, Mauritania and other countries. It is currently working on Dudgeon Offshore Wind Farm Project in the United Kingdom in partnership with Norway's Statoil and Statkraft. When complete in 2017, the project will generate electricity to power more than 410,000 homes and reduce carbon emissions equal to 893,000 tons annually.
AB/IINA
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