Masdar chairman Dr Sultan Al Jaber and Iberdrola’s executive chairman Ignacio Galan. Photo: Masdar
Masdar chairman Dr Sultan Al Jaber and Iberdrola’s executive chairman Ignacio Galan. Photo: Masdar
Masdar chairman Dr Sultan Al Jaber and Iberdrola’s executive chairman Ignacio Galan. Photo: Masdar
Masdar chairman Dr Sultan Al Jaber and Iberdrola’s executive chairman Ignacio Galan. Photo: Masdar

UAE's Masdar joins Spain's Iberdrola to invest in $1.77bn German wind farm


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Masdar has joined Spain’s Iberdrola to invest in a 476-megawatt offshore wind farm in Germany as the Abu Dhabi clean energy company moves ahead with its ambitious strategy to boost renewable energy capacity.

The Baltic Eagle wind farm, located in Germany's waters in the Baltic Sea, is valued at about €1.6 billion ($1.77 billion), the two companies said on Wednesday.

Iberdrola, which will retain a majority 51 per cent stake in the wind farm, is expected to control and manage the asset.

“When companies with long histories of pioneering clean energy join forces, it creates lasting solutions for people and the planet,” said Dr Sultan Al Jaber, Cop28 President-designate and chairman of Masdar.

“This landmark agreement between Masdar and Iberdrola will harness Germany’s abundant wind power in the Baltic Sea and bring electricity to nearly half a million homes, while cutting emissions,” said Dr Al Jaber, who is also the Minister of Industry and Advanced Technology.

Baltic Eagle, which will have 50 wind turbines, is expected to produce 1.9 terawatt-hours per year, powering 475,000 homes and preventing 800,000 tonnes of carbon dioxide from being released into the atmosphere annually, the companies said.

The wind farm, which is scheduled to come into initial operation at the end of 2024, has a minimum regulated tariff of €64.6 a megawatt-hour for the first 20 years.

All of its production has already been sold through long-term contracts, the companies said.

Iberdrola’s executive chairman Ignacio Galan said delivering the clean energy that the world needs required companies with vision that are committed to investing in new infrastructure.

“Masdar brings all of these qualities to Baltic Eagle. This is a major project that will help to drive forward green energy security in Europe, reduce emissions for homes and businesses, and support thousands of highly skilled jobs,” Mr Galan said.

Established by Mubadala in 2006, Masdar has taken a leadership role in the global clean energy sector and has helped to drive the nation’s economic diversification and climate action agenda.

It is currently active in about 40 countries and has invested or committed to invest in projects worth more than $30 billion.

Last week, Masdar raised $750 million through a green bond as part of a programme to raise up to $3 billion to meet Masdar’s equity funding commitments on new renewable energy projects in the UAE and overseas.

The company grew its renewable energy capacity to 20 gigawatts in 2022, producing 18,000 gigawatt hours of clean energy and reducing carbon dioxide emissions by 10 million tonnes.

Masdar aims to grow its capacity to at least 100 gigawatts of renewable energy by the end of the decade, to become one of the world’s largest renewable energy companies by 2030.

Annual renewable power capacity must add an average of 1,000 gigawatts annually by 2030 to meet Paris Agreement goals, according to the International Renewable Energy Agency.

Although global renewable capacity in the power sector grew by a record 300 gigawatts last year, the gap between actual progress and the development required to achieve long-term climate goals has continued to grow, the Abu Dhabi agency said in its World Energy Transitions Outlook 2023 last month.

Iberdrola, with a market capitalisation of more than €74 billion, is the largest electricity utility in Europe and the second largest in the world.

The company, which has more than 40,000 megawatts of renewable capacity, plans to invest €47 billion between 2023 and 2025 in power grids and renewables.

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

HOW TO WATCH

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Silent Hill f

Publisher: Konami

Platforms: PlayStation 5, Xbox Series X/S, PC

Rating: 4.5/5

In numbers: China in Dubai

The number of Chinese people living in Dubai: An estimated 200,000

Number of Chinese people in International City: Almost 50,000

Daily visitors to Dragon Mart in 2018/19: 120,000

Daily visitors to Dragon Mart in 2010: 20,000

Percentage increase in visitors in eight years: 500 per cent

UAE currency: the story behind the money in your pockets
AUSTRALIA SQUAD v SOUTH AFRICA

Aaron Finch (capt), Shaun Marsh, Travis Head, Chris Lynn, Glenn Maxwell, D'Arcy Short, Marcus Stoinis, Alex Carey, Ashton Agar, Mitchell Starc, Josh Hazlewood, Pat Cummins, Nathan Coulter-Nile, Adam Zampa

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Islamophobia definition

A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

UAE currency: the story behind the money in your pockets
Key figures in the life of the fort

Sheikh Dhiyab bin Isa (ruled 1761-1793) Built Qasr Al Hosn as a watchtower to guard over the only freshwater well on Abu Dhabi island.

Sheikh Shakhbut bin Dhiyab (ruled 1793-1816) Expanded the tower into a small fort and transferred his ruling place of residence from Liwa Oasis to the fort on the island.

Sheikh Tahnoon bin Shakhbut (ruled 1818-1833) Expanded Qasr Al Hosn further as Abu Dhabi grew from a small village of palm huts to a town of more than 5,000 inhabitants.

Sheikh Khalifa bin Shakhbut (ruled 1833-1845) Repaired and fortified the fort.

Sheikh Saeed bin Tahnoon (ruled 1845-1855) Turned Qasr Al Hosn into a strong two-storied structure.

Sheikh Zayed bin Khalifa (ruled 1855-1909) Expanded Qasr Al Hosn further to reflect the emirate's increasing prominence.

Sheikh Shakhbut bin Sultan (ruled 1928-1966) Renovated and enlarged Qasr Al Hosn, adding a decorative arch and two new villas.

Sheikh Zayed bin Sultan (ruled 1966-2004) Moved the royal residence to Al Manhal palace and kept his diwan at Qasr Al Hosn.

Sources: Jayanti Maitra, www.adach.ae

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David Haye record

Total fights: 32
Wins: 28
Wins by KO: 26
Losses: 4

Some of Darwish's last words

"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008

His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.

2020 Oscars winners: in numbers
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  • 1917– 3
  • Ford v Ferrari – 2
  • Joker – 2
  • Once Upon a Time ... in Hollywood – 2
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BUNDESLIGA FIXTURES

Friday (UAE kick-off times)

Cologne v Hoffenheim (11.30pm)

Saturday

Hertha Berlin v RB Leipzig (6.30pm)

Schalke v Fortuna Dusseldof (6.30pm)

Mainz v Union Berlin (6.30pm)

Paderborn v Augsburg (6.30pm)

Bayern Munich v Borussia Dortmund (9.30pm)

Sunday

Borussia Monchengladbach v Werder Bremen (4.30pm)

Wolfsburg v Bayer Leverkusen (6.30pm)

SC Freiburg v Eintracht Frankfurt (9on)

The specs

Engine: Two permanent-magnet synchronous AC motors

Transmission: two-speed

Power: 671hp

Torque: 849Nm

Range: 456km

Price: from Dh437,900 

On sale: now

The specs

Engine: 2.0-litre 4cyl turbo

Power: 261hp at 5,500rpm

Torque: 405Nm at 1,750-3,500rpm

Transmission: 9-speed auto

Fuel consumption: 6.9L/100km

On sale: Now

Price: From Dh117,059

Profile of RentSher

Started: October 2015 in India, November 2016 in UAE

Founders: Harsh Dhand; Vaibhav and Purvashi Doshi

Based: Bangalore, India and Dubai, UAE

Sector: Online rental marketplace

Size: 40 employees

Investment: $2 million

UAE tour of Zimbabwe

All matches in Bulawayo
Friday, Sept 26 – UAE won by 36 runs
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I

The specs
Engine: 2.0-litre 4-cyl turbo

Power: 201hp at 5,200rpm

Torque: 320Nm at 1,750-4,000rpm

Transmission: 6-speed auto

Fuel consumption: 8.7L/100km

Price: Dh133,900

On sale: now 

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Opening Rugby Championship fixtures: Games can be watched on OSN Sports
Saturday: Australia v New Zealand, Sydney, 1pm (UAE)
Sunday: South Africa v Argentina, Port Elizabeth, 11pm (UAE)

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The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

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if you go

The flights

Etihad, Emirates and Singapore Airlines fly direct from the UAE to Singapore from Dh2,265 return including taxes. The flight takes about 7 hours.

The hotel

Rooms at the M Social Singapore cost from SG $179 (Dh488) per night including taxes.

The tour

Makan Makan Walking group tours costs from SG $90 (Dh245) per person for about three hours. Tailor-made tours can be arranged. For details go to www.woknstroll.com.sg

Updated: July 26, 2023, 7:32 AM