The joint venture company will explore new opportunities under the guidance of both owners. Photo: Masdar
The joint venture company will explore new opportunities under the guidance of both owners. Photo: Masdar
The joint venture company will explore new opportunities under the guidance of both owners. Photo: Masdar
The joint venture company will explore new opportunities under the guidance of both owners. Photo: Masdar

Masdar and Alpha Dhabi unit form new company to develop clean energy projects


Mary Sophia
  • English
  • Arabic

Abu Dhabi clean energy company Masdar and W Solar, a subsidiary of Alpha Dhabi Holding, have formed a joint venture company to develop clean energy projects in various locations.

The new company, MW Energy Limited, will act as a development platform and will focus initially on an already identified pipeline of projects, Masdar said on Tuesday.

MW Energy will also explore new opportunities under the guidance of both owners.

"Having more than tripled the capacity of our renewable energy portfolio within three years, we are committed to extending our reach even further, by entering new markets and by partnering with other Abu Dhabi entities to become a global leader in clean energy," said Mohamed Al Ramahi, chief executive of Masdar.

"Through this JVC, we will be able to respond faster to market opportunities, extend our footprint into new geographies and support more nations in their climate action.”

Masdar, which currently operates in more than 30 countries with a total investment of about $20 billion, has been harbouring ambitions to be a clean energy powerhouse after an agreement through which Abu Dhabi National Oil Company and Taqa would become its shareholders along with existing owner Mubadala Investment Company.

The deal will boost the clean energy company's renewable power capacity to more than 50 gigawatts by 2030 and allow it to create synergies and tap into a booming market for hydrogen, often considered a clean alternative to polluting fuels.

The new joint venture company will initially focus on identified projects, particularly in Africa and in the Commonwealth of Independent States region such as Azerbaijan, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan and Georgia – as well as other geographies.

The total capacity of these identified projects is more than eight gigawatts. The company will also explore and develop other opportunities to meet the shareholders’ clean energy objectives.

MW Energy will also support Etihad 7, a UAE-led initiative to secure funding for renewable energy projects in Africa that aims to supply clean electricity to 100 million people by 2035. The programme will mobilise funds from the public and private sectors to finance clean energy investment.

COMPANY PROFILE
Name: Airev
Started: September 2023
Founder: Muhammad Khalid
Based: Abu Dhabi
Sector: Generative AI
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
 
ELIO

Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett

Directors: Madeline Sharafian, Domee Shi, Adrian Molina

Rating: 4/5

MATCH DETAILS

Barcelona 0

Slavia Prague 0

SPECS

Engine: 4-litre V8 twin-turbo
Power: 630hp
Torque: 850Nm
Transmission: 8-speed Tiptronic automatic
Price: From Dh599,000
On sale: Now

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
The specs
Engine: 4.0-litre flat-six
Power: 510hp at 9,000rpm
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Price: From Dh801,800
UAE currency: the story behind the money in your pockets
The%20specs
%3Cp%3E%3Cstrong%3EEngine%3A%3C%2Fstrong%3E%206.5-litre%20V12%20and%20three%20electric%20motors%0D%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E1%2C015hp%0D%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E1%2C500Nm%20(estimate)%0D%3Cbr%3E%3Cstrong%3ETransmission%3A%3C%2Fstrong%3E%20Eight-speed%20dual-clutch%20auto%0D%3Cbr%3E%3Cstrong%3EOn%20sale%3A%3C%2Fstrong%3E%20Early%202024%0D%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh2%20million%20(estimate)%3C%2Fp%3E%0A
Ultra processed foods

- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns 

- margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars;

- energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces

- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,

- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.

Kibsons%20Cares
%3Cp%3E%3Cstrong%3ERecycling%3Cbr%3E%3C%2Fstrong%3EAny%20time%20you%20receive%20a%20Kibsons%20order%2C%20you%20can%20return%20your%20cardboard%20box%20to%20the%20drivers.%20They%E2%80%99ll%20be%20happy%20to%20take%20it%20off%20your%20hands%20and%20ensure%20it%20gets%20reused%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EKind%20to%20health%20and%20planet%3C%2Fstrong%3E%3Cbr%3ESolar%20%E2%80%93%2025-50%25%20of%20electricity%20saved%3Cbr%3EWater%20%E2%80%93%2075%25%20of%20water%20reused%3Cbr%3EBiofuel%20%E2%80%93%20Kibsons%20fleet%20to%20get%2020%25%20more%20mileage%20per%20litre%20with%20biofuel%20additives%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ESustainable%20grocery%20shopping%3C%2Fstrong%3E%3Cbr%3ENo%20antibiotics%3Cbr%3ENo%20added%20hormones%3Cbr%3ENo%20GMO%3Cbr%3ENo%20preservatives%3Cbr%3EMSG%20free%3Cbr%3E100%25%20natural%3C%2Fp%3E%0A
The stats

Ship name: MSC Bellissima

Ship class: Meraviglia Class

Delivery date: February 27, 2019

Gross tonnage: 171,598 GT

Passenger capacity: 5,686

Crew members: 1,536

Number of cabins: 2,217

Length: 315.3 metres

Maximum speed: 22.7 knots (42kph)

'Nope'
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Updated: January 25, 2022, 2:12 PM`