Abu Dhabi clean-tech event sees big-ticket investments, new ventures

The Abu Dhabi Sustainability Week (ADSW) that was held last week has given the renewable energy and clean-tech sector a bouquet of goodies. Alongside the big-bucks commitments to the sector, there was also a raft of announcements with a focus on small and island nations.

The ADSW is an annual event held by the emirate through its renewable energy and sustainable real estate company, Masdar. A key development of the 2020 event was the launch of a $260-million real estate investment trust (REIT) by Masdar exclusively for green buildings.

Deal with NTPC

Masdar also signed a clutch of agreements with global energy majors, including an MoU with India’s NTPC for exploring green projects in India. The other agreements include one with France’s EDF for setting up a joint venture for energy efficiency and distributed solar generation projects in Abu Dhabi; with Infinity Energy to set up a JV for projects in Egypt and sub-Saharan Africa; and with chemical company Cepsa (partly owned by Masdar’s parent company, Mubadala) to set up renewable energy projects in Spain and Portugal.

Masdar has also picked up a 40 per cent stake in Australian waste-to-energy company East Rockingham Resource Recover, which is putting up a $350-million plant near Perth. Additionally, it signed a power purchase agreement with Indonesia’s utility, PLN, to sell power from a 145-MW, 225-hectare floating solar plant that Masdar is putting up on the Cirata Reservoir.

The Hindu
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