“Leveraging technologies will help meet sustainability objectives”
Masdar ramped up its efforts at this year’s Abu Dhabi Sustainability Week with several deals and collaborations
Last month saw the world come together to accelerate the movement for sustainability across a number of sectors, including the construction industry.
Held from the 11-18 January 2020, the Abu Dhabi Sustainability Week is a platform for reputable businesses to collaborate, implement strategies, and deliver solutions that overcome pressing challenges to sustainable development while driving human progress.
Abu Dhabi Future Energy Company (Masdar), the subsidiary of Mubadala Development showed exactly how they were ramping up activities to improve sustainability through collaborations regionally and internationally.
Masdar and Egypt’s renewable energy developer Infinity Energy agreed to establish a joint venture company – Infinity Power - to develop utility-scale and distributed solar energy and wind power projects in Egypt and Africa.
The deal was inked by the chief executive officer of Masdar, Mohamed Jameel Al Ramahi; the managing director and co-founder of Infinity Energy, Mohamed Elamin Ismail Mansour; and the CEO of Infinity Energy, Nayer Fouad, at the event.
Infinity Energy, which currently operates six solar PV assets with a cumulative capacity of 235 MWp in Egypt, completed the development and construction of Egypt’s first large-scale solar power plant in February 2018, followed by three other plants in the Benban Solar Park, which is touted as the largest solar park in the world.
Commenting on the deal, Al Ramahi said: “The establishment of Infinity Power will bolster the progress Egypt has made in renewable energy and catalyse further development in the region. We look forward to working with Infinity Energy to unlock opportunities to further Egypt’s renewable energy goals and extend energy access to those areas of Africa that are under-powered.”
UAE’s district cooling developer National Central Cooling Company (Tabreed) also acquired Masdar City’s district cooling plants and concession with a total capacity of nearly 69,000RT.
As part of the agreement, Tabreed will also acquire the use of two deep geothermal wells located in Masdar City that are a part of a major research and development collaboration initiative, which will see Tabreed create unique, reliable, and sustainable cooling solutions through geothermal technology.
The plants provide cooling services to more than 2.7km2 of sustainable urban communities in Masdar City, Tabreed said in a stock market missive.
Executive director of sustainable real estate at Masdar, Yousef Baselaib, said: “This agreement reflects the progress Masdar City has made in developing its residential and commercial portfolio.
“Tabreed’s expertise in leveraging emerging technologies such as artificial intelligence will help Masdar City meet its sustainability objectives.”
The changing nature of the Middle East and across the globe is clearly evident as sustainability is playing a key role in the transition of the region’s infrastructure sector.
Through events such as Abu Dhabi Sustainability Week, firms are reacting to the growing awareness of resource shortages, which is encouraging decision-makers to seek efficiencies to drive for greener living environment for the Middle East.