We are accelerating our investments in renewable energy solutions and in December 2021, together with the Abu Dhabi National Energy Company PJSC (TAQA) and Mubadala Investment Company, we announced a new partnership under the Abu Dhabi Future Energy Company (Masdar) brand to consolidate efforts in renewable energy and green hydrogen. The partnership will have a combined committed capacity of over 23 Gigawatts of renewable energy, with the expectation of reaching well over 100GW by 2030. Upon completion of the transaction, the expanded Masdar entity will become one of the largest clean energy companies of its kind in the world.
TAQA will hold 43 percent share in Masdar’s renewable energy business with Mubadala holding 33 percent, and ADNOC 24 percent. ADNOC will hold the lead 43 percent share in Masdar’s green hydrogen business with Mubadala holding 33 percent and TAQA 24 percent.