- Masdar signed new agreements with Norwegian companies to expand renewable energy and green hydrogen projects during Crown Prince HH Sheikh Khaled bin Mohamed bin Zayed Al Nahyan’s visit to Norway.
- Key collaborations include Equinor for offshore wind projects, ICP Infrastructure for green energy in Europe, and Yara for green hydrogen and ammonia initiatives.
- Masdar aims to produce 100 GW of renewable energy and 1 million tonnes of green hydrogen annually by 2030, supporting global decarbonisation efforts.
Abu Dhabi Future Energy Company (Masdar) deepened its collaboration with Norwegian companies by signing new agreements to expand renewable energy and green hydrogen projects. Abu Dhabi’s Crown Prince, HH Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, announced the deals during his visit to Norway.
Senior leaders from both nations explored investment opportunities at the UAE-Norway Investment Forum, reinforcing the strong bilateral relationship between the UAE and Norway. Both countries are committed to advancing the global energy transition and developing sustainable solutions.
Masdar and its Norwegian partners have already seen success. The company partnered with Equinor to develop Hywind Scotland, the world’s first floating offshore wind farm, which began operations in 2017. Through a new Strategic Framework Agreement, Masdar and Equinor plan to enhance projects like Hywind and explore new opportunities. The agreement also aims to strengthen supply chains for future renewable energy projects.
Alongside its Equinor partnership, Masdar formed additional agreements with Norwegian firms. One deal with ICP Infrastructure, a fund manager backed by the Aker Group, will explore investments in green energy infrastructure across Europe, especially in the Nordics. Another agreement with Aker Horizons Asset Development focuses on joint efforts in the “Power-to-Green Hydrogen” value chain, targeting decarbonisation in hard-to-abate sectors through green hydrogen solutions.
Masdar also signed an agreement with Yara to pursue investment opportunities in the “Power-to-Green Ammonia” value chain, with green hydrogen playing a pivotal role. These partnerships reflect Masdar’s dedication to clean energy innovation and global decarbonisation efforts.
Masdar CEO Mohamed Jameel Al Ramahi praised the UAE-Norway partnership, highlighting both countries’ leadership in sustainable energy. “Our collaboration with Norwegian partners rests on a shared legacy of commitment to clean energy. These agreements will help drive the energy transition and support global decarbonisation,” Al Ramahi said.
Masdar has set ambitious goals for the future. By 2030, the company aims to achieve a renewable energy portfolio of 100 GW, aligning with the UAE’s objective to triple global renewable capacity. Masdar also plans to become a leading green hydrogen producer, targeting 1 million tonnes of production annually by 2030.
These new agreements mark significant progress in Masdar’s global strategy, solidifying its role as a key player in renewable energy and green hydrogen development. As the world moves toward a more sustainable future, Masdar’s partnerships with Norway will play a vital role in shaping the next phase of the energy transition.