Mohamed Jameel Al Ramahi is the chief executive of Masdar
November 05, 2022
Next week, I will be travelling to Sharm El Sheikh, Egypt, to attend the 2022 United Nations Climate Change Conference, better known as Cop27. A primary goal of Cop27 will be for nations to demonstrate how they are undertaking real action toward their shared climate objectives as set out in the Paris Agreement. In Masdar, I am proud to say that the UAE will have a powerful example.
First established by the UAE leadership in 2006, Masdar has been a pioneering force in renewable energy, driving forward the global energy transition while cementing the UAE’s energy leadership and helping to diversify its economy. Today, Masdar has become one of the largest and fastest-growing renewable energy companies in the world, active in over 40 countries and with a global portfolio of projects that have a combined 15 gigawatts of clean electricity-generating capacity.
This growth trajectory underscores both the abundance of opportunities in the global renewable energy market and Masdar’s skill and ability in seizing them for the benefit of the UAE. In the last five years alone, we have increased our gross renewable energy capacity by about 30 per cent per year, close to twice the market average.
We also continue to grow across all sectors of our business, both here at home and around the world. In the UAE, where we are blessed with some of the lowest-cost solar resources in the world, Masdar is an investor and co-developer of three of the country’s leading solar plants, two of which are among the largest single-site solar plants in the world. Just this year, Masdar also inaugurated the first commercial waste-to-energy facility in the Middle East with our partner BEEAH in Sharjah.
Globally, Masdar has expanded in new and existing markets considerably this year. In Central Asia, we saw the groundbreaking of the 230-megawatt Garadagh Solar Plant in Azerbaijan, the country’s first foreign investment-based independent solar power project, as well as the financial close of the 500-megawatt Zarafshan Windfarm in Uzbekistan, set to be the largest of its kind in the region.
In the UK, Masdar has partnered with bp on joining its green hydrogen project, HyGreen Teeside, which aims to produce 500-megawatt electrical input by 2030. Just last month, Masdar also acquired Arlington Energy, a leading UK-based battery energy storage developer. The move, which supports Masdar’s global renewables investment strategy, will enable the further expansion of Masdar’s presence in the UK and Europe.
Across the globe, from Australia to the United States, and from Indonesia to Saudi Arabia, Masdar is developing world-class clean energy projects that are playing a key role in supporting the race to net zero and driving forward the energy transition.
This leadership in the global renewable energy landscape is a reflection of, and enabled by, the UAE’s own bold leadership in climate action. As the first country in the Mena region to adopt and sign the Paris Agreement, and the first to target net zero by 2050, the UAE’s commitment to climate action is unwavering. The UAE is driving massive investment in clean energy globally, already investing over $50 billion in clean energy projects in six continents, with an additional $50bn to be invested over the next decade.
Preparations are under way for Cop27 in Sharm El Sheikh, Egypt this month. AP
Across the globe, from Australia to the United States, and from Indonesia to Saudi Arabia, Masdar is developing world-class clean energy projects
With Cop27 being held in Egypt, “Africa’s Cop” will bring into sharper focus the continent’s incredible renewable energy potential, something that both the UAE and Masdar have long recognised. Through Etihad 7, a project launched by Sheikh Shakhboot bin Nahyan Al Nahyan, Minister of State for Foreign Affairs and International Co-operation, and supported by Masdar, the UAE is committed to helping to secure funding for renewable energy projects in Africa and aims to supply clean electricity to 100 million people by 2035 under the programme.
For Masdar’s part, we are working with our partners in Africa to empower local communities, developing over 1 gigawatt of clean energy projects capable of delivering electricity to over 845,000 homes in Egypt, Morocco, Mauritania and Seychelles. We are also actively pursuing avenues to expand our presence across the continent to unlock the tremendous renewable energy potential that Africa possesses. This includes recent agreements with leading Egyptian partners to develop an electrolyser capacity of 4 gigawatts, and an output of up to 480,000 tons of green hydrogen per year by 2030 in Egypt.
While deploying clean energy lies at the heart of Masdar’s operations, it is not the only way Masdar is supporting the UAE’s efforts on climate action. We also have a number of strategic platforms, including Abu Dhabi Sustainability Week (ADSW). Anchored by its flagship event held in Abu Dhabi every January, one of the largest events of its kind in the world, ADSW will serve as a bridge between Cop27 and Cop28, bringing together heads of state and global leaders across government and industry to further advance the critical dialogue around climate change and the energy transition.
From world-class clean energy projects to facilitating real climate action, Masdar is a true reflection of how sustainability is deep within the UAE’s DNA, and we will be a powerful example of the UAE’s climate leadership at Cop27. As the UAE prepares to host Cop28 in 2023, we will continue to be build on our successes, remaining a shining example of the UAE’s bold climate leadership and vision for a more sustainable future.
To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:
September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
February 2, 2018 Bodytree will host its 4th annual yoga market.
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ICC T20 Rankings
1. India - 270 ranking points
2. England - 265 points
3. Pakistan - 261 points
4. South Africa - 253 points
5. Australia - 251 points
6. New Zealand - 250 points
7. West Indies - 240 points
8. Bangladesh - 233 points
9. Sri Lanka - 230 points
10. Afghanistan - 226 points
HOW DO SIM CARD SCAMS WORK?
Sim swap frauds are a form of identity theft.
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Based: Riyadh
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Sector: FinTech, online payment solutions
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For decades the UAE has granted two and three year visas to foreign workers, tied to their current employer. Now that's changing.
Last year, the UAE cabinet also approved providing 10-year visas to foreigners with investments in the UAE of at least Dh10 million, if non-real estate assets account for at least 60 per cent of the total. Investors can bring their spouses and children into the country.
It also approved five-year residency to owners of UAE real estate worth at least 5 million dirhams.
The government also said that leading academics, medical doctors, scientists, engineers and star students would be eligible for similar long-term visas, without the need for financial investments in the country.
Men’s squad: Faisal Al Ketbi, Omar Al Fadhli, Zayed Al Kathiri, Thiab Al Nuaimi, Khaled Al Shehhi, Mohamed Ali Al Suwaidi, Farraj Khaled Al Awlaqi, Muhammad Al Ameri, Mahdi Al Awlaqi, Saeed Al Qubaisi, Abdullah Al Qubaisi and Hazaa Farhan
Women's squad: Hamda Al Shekheili, Shouq Al Dhanhani, Balqis Abdullah, Sharifa Al Namani, Asma Al Hosani, Maitha Sultan, Bashayer Al Matrooshi, Maha Al Hanaei, Shamma Al Kalbani, Haya Al Jahuri, Mahra Mahfouz, Marwa Al Hosani, Tasneem Al Jahoori and Maryam Al Amri
England's lowest Test innings
- 45 v Australia in Sydney, January 28, 1887
- 46 v West Indies in Port of Spain, March 25, 1994
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Creator: Jenna Lamia
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MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
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UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), EsekaiaDranibota (Harlequins), Matt Mills (Exiles), JaenBotes (Exiles), KristianStinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), EmosiVacanau (Harlequins), NikoVolavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), ThinusSteyn (Exiles)
What is an ETF?
An exchange traded fund is a type of investment fund that can be traded quickly and easily, just like stocks and shares. They come with no upfront costs aside from your brokerage's dealing charges and annual fees, which are far lower than on traditional mutual investment funds. Charges are as low as 0.03 per cent on one of the very cheapest (and most popular), Vanguard S&P 500 ETF, with the maximum around 0.75 per cent.
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The first ETF was launched as recently as 1993, but the sector boasted $5.78 billion in assets under management at the end of September as inflows hit record highs, according to the latest figures from ETFGI, a leading independent research and consultancy firm.
There are thousands to choose from, with the five largest providers BlackRock’s iShares, Vanguard, State Street Global Advisers, Deutsche Bank X-trackers and Invesco PowerShares.
While the best-known track major indices such as MSCI World, the S&P 500 and FTSE 100, you can also invest in specific countries or regions, large, medium or small companies, government bonds, gold, crude oil, cocoa, water, carbon, cattle, corn futures, currency shifts or even a stock market crash.
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Infiniti QX80 specs
Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
