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Source: cision | Published on: Tuesday, 05 December 2023
DUBAI, United Arab Emirates, Dec. 5, 2023 -- Abu Dhabi Future Energy Company PJSC – Masdar, the UAE's clean energy powerhouse, has signed a joint development agreement with the Jordanian Ministry of Energy and Mineral Resources to develop a 1 gigawatt (GW) wind project with a battery energy storage system (BESS), and a memorandum to explore the feasibility of establishing a green hydrogen plant.
The agreements with the Ministry were signed at COP28 by Masdar Chief Executive Officer, Mohamed Jameel Al Ramahi and the Jordanian Minister of Energy and Mineral Resources, His Excellency Dr Saleh Al-Kharabsheh. The signing ceremony was witnessed by UAE Minister of Industry and Advanced Technology, COP28 President and Masdar Chairman, HE Dr Sultan Al Jaber and the Minister of the Environment for Jordan, H.E.Dr Muawieh Khalid Radaideh.
The study will examine the feasibility of establishing a green hydrogen project near The Port of Aqaba to produce the most cost-competitive hydrogen, utilizing desalinated seawater, and dedicated renewable power.
Masdar Chief Executive Officer, Mohamed Jameel Al Ramahi said: "With substantial wind and solar resources that can be used to generate large amounts of renewable energy, and produce cost-competitive green hydrogen and green fuels, Jordan has the potential to become a global powerhouse in the green energy transition. Building on the strength of our longstanding partnership, Masdar is delighted to bring our expertise in clean energy projects and technologies to help Jordan achieve its decarbonization plans and unlock the nation's enormous potential."
HE Dr. Saleh Al-Kharabsheh, Minister of Energy and Mineral Resources in Jordan, said: "The Jordanian government's efforts continue to enhance Jordan's role as a regional center for green energy production and provide high-quality, cost-competitive green hydrogen fuel by taking advantage of the abundance of renewable energy sources and our nation's strategic geographical location in the region to provide excellent access to European markets."
HE Dr. Saleh Al-Kharabsheh added that Jordan valued cooperation at the regional and national level, and that the partnership with Masdar – through the signing of these agreements – will advance the Ministry's priorities and the Economic Modernization Vision (2023-2033) that was recently launched by the Jordanian government. This includes investment in green hydrogen production projects, which are part of Jordan's initiatives to transition towards the use of clean energy as it aims to achieve net zero.
Masdar already has a presence in Jordan through its Baynouna Solar Energy Company (BSCE) joint venture with Finnish investment and asset management group Taaleri, which inaugurated the 200MW Baynouna Solar Park, the largest clean energy project in Jordan, in February of this year.
Masdar is pursuing a target of 1 million tonnes of green hydrogen production by 2030 as part of the UAE's plans to establish itself as a green hydrogen hub and capture 25 per cent of the global low-carbon hydrogen market by 2030.
As the UAE's clean energy powerhouse and one of the world's fastest growing and leading investors in clean energy, Masdar is at the vanguard of advancing the development and deployment of renewable energy and green hydrogen technologies to address global sustainability challenges.
Established in 2006, Masdar has developed and partnered in projects in more than 40 countries across six continents. Its worldwide portfolio of investments, which are either operational, under construction or in exclusive development, have a combined value of more than US$30 billion.
About Masdar
Abu Dhabi Future Energy Company (Masdar) is the UAE's clean energy champion and one of the fastest growing companies in the world, advancing the development and deployment of renewable energy and green hydrogen technologies to address global sustainability challenges. Established in 2006, Masdar has developed and partnered in projects in over 40 countries, helping them to achieve their clean energy objectives and advance sustainable development. Masdar is jointly owned by Abu Dhabi National Oil Company (ADNOC), Mubadala Investment Company (Mubadala), and Abu Dhabi National Energy Company (TAQA), and under this ownership the company is targeting a renewable energy portfolio capacity of at least 100 gigawatts (GW) by 2030 and an annual green hydrogen production capacity of up to 1 million tonnes by the same year.
For more information please visit: http://www.masdar.ae and connect: facebook.com/masdar.ae and twitter.com/masdar
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