Globally (various continents)
As the first major hydrocarbon-producing nation to take such a step, it has established its leadership position by launching the Masdar Initiative, a global cooperative platform for open engagement in the search for solutions to some of mankind`s most pressing issues: energy security, climate change and truly sustainable human development.
We are at the dawn of a global energy revolution that will transform the way we think about power generation, distribution and consumption. The scale and complexity of these changes is almost without precedent, and companies that seek to survive and thrive in this new environment must have the agility, the expertise and the long-term vision to respond to this new and uncertain landscape.
To make Abu Dhabi the preeminent source of renewable energy knowledge, development, implementation and the world’s benchmark for sustainable development.
To advance renewable energy and sustainable technologies through education, research and development, investment, commercialization and adaptation.
We believe that success in today’s energy marketplace requires the ability to move swiftly and in sync with changes in technology – that we can make decisions quickly and decisively and with an agility that keeps us at the forefront of the industry.
We believe that the best way to increase use of clean technologies is to demonstrate that they are commercially viable – to prove that their adoption will not only benefit the health and sustainability of our planet, but will also return profits to shareholders.
We believe that sustainability is a key criteria that we must use in making decisions. We think about the degree to which the actions we take can be repeated in the future without any significant loss in quality, resources or efficacy.
We believe that because our business is so forward thinking – pioneering new concepts and technologies – it’s vital that our decision-making process be firmly rooted in reality. Everything we do is grounded in what is feasible, given financial and technical constraints. This will result in better technology, healthier returns and greater uses.
Established in 2006, Masdar is a commercially driven enterprise that operates to reach the broad boundaries of the renewable energy and sustainable technologies industry – there by giving it the necessary scope to meet these challenges.
Masdar operates through five integrated units, including an independent, research-driven graduate university, and seeks to become a leader in making renewable energy a real, viable business and Abu Dhabi a global centre of excellence in the renewable energy and clean technology category. The result is an organisation greater than the sum of its parts and one where the synergies of shared knowledge and technological advancement provide this commercial and results-driven company with a competitive advantage that includes an ability to move with agility and intelligence within an industry that is evolving at great speed.
This holistic approach keeps Masdar at the forefront of this important global industry, while ensuring it remains grounded in the pursuit of pioneering technologies and systems that also are feasible. As a result, it delivers innovation to the market while deriving profits for its shareholders.
Masdar is a wholly owned subsidiary of the Abu Dhabi Government-owned Mubadala Development Company, a catalyst for the economic diversification of the Emirate.
Why Future Energy?
Abu Dhabi is home to 8% of proven global crude oil reserves, while the Abu Dhabi National Oil Company is one of the 10 largest oil companies in the world; what’s more, the Emirate has enough hydrocarbon reserves at current production levels to last 100 years. So why has the leadership of this Emirate, which is the capital of the United Arab Emirates, committed billions of dollars to developing Masdar and establishing Abu Dhabi as a global centre of excellence in renewable energy and clean technologies?
For the Planet: With a heritage tied to life in the harsh and unforgiving desert, Abu Dhabi’s leadership well understands the lessons of traditional desert living, where sustainable practices and resource conservation are not just slogans, but are essential to survival in such surroundings. That’s why the emirate’s leadership understands the tremendous challenges posed by climate change, environmental degradation and the need to find sustainable energy sources.
For Abu Dhabi’s Future: Abu Dhabi has traditionally played a leading role in global energy markets as a significant hydrocarbon producer. Through Masdar, it seeks to leverage its substantial resources and experience in this sector to maintain its leadership position in an evolving world energy market that is increasingly looking to renewable energy. Through Masdar, Abu Dhabi aspires to be an international hub for renewable energy, new energy and sustainable technologies, thereby balancing its already strong hydrocarbon position.
This leadership is expressed in other ways as well. While Abu Dhabi has always been known as a global energy player, through Masdar, it is demonstrating what a responsible oil producer can do to help create a balance between hydrocarbons and renewable energy in addressing both climate change and energy security.
For Abu Dhabi’s People: Abu Dhabi has embarked on a two-decade programme to transform its economy from one based on natural resources to one based on knowledge, innovation and the export of cutting-edge technologies. Guiding this transformation is a document called the Abu Dhabi Economic Vision 2030, which provides a comprehensive plan, including the steps to be taken to transform the emirate’s economy over the next two decades.
Key goals include increasing the non-oil share of the economy from approximately 40% to more than 60% and significantly diversifying the scope of economic activity to include priority sectors such as education, banking & finance, tourism, pharmaceuticals, media, aviation & aerospace, transportation & logistics, and manufacturing in areas such as aluminum and petrochemicals. It also puts a strong emphasis on value-added knowledge-based industries, such as renewable energy and sustainable technologies.
Masdar will contribute significantly to this diversification in a number of ways. Across its five integrated units, the company will help:
- Expand the export base.
- Encourage private-sector entrepreneurship.
- Invest in education and research that stimulates innovation.
- Train, attract and retain skilled workers in knowledge-based sectors.
- Encourage investment in areas that generate intellectual property gains.
- Grow the non-oil sector’s share of the emirate’s economy and decouple economic growth from fluctuating oil prices.
Masdar Carbon manages projects that bring reductions in carbon emissions through energy efficiency and waste heat/CO2 recovery, as well as through carbon capture and storage (CCS). The unit provides value to industrial asset owners by monetising carbon emission reductions under the current United Nations-based Clean Development Mechanism (CDM) or other applicable future international climate trading schemes, and by providing an end-to-end solution to ...
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Masdar Power is a developer and operator of renewable power generation projects. In building a portfolio of strategic utility-scale projects, Masdar Power makes direct investments in individual projects in all areas of renewable energy, with a focus on Concentrating Solar Power (CSP), photovoltaic solar energy and on- and offshore wind energy. In a joint venture with Abengoa Solar and Total, Masdar Power is developing the 100MW Shams 1 CSP plant in ...
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GLOBE 2012, World Future Energy Summit