Masdar explores opportunities with Israel, China
reporters@khaleejtimes.com
Filed on January 21, 2021
The new partnerships with Israel and China will help the UAE achieve its goal of becoming a world leader in solar energy
Masdar and EDF Renewables have announced that they have signed a strategic agreement to explore renewable energy opportunities in Israel and support the country’s clean-energy objectives.
Mohamed Jameel Al Ramahi, CEO of Masdar and Bruno Bensasson, CEO of EDF Renewables, signed a memorandum of understanding (MoU) at a virtual ceremony held on the side lines of Abu Dhabi Sustainability Week (ADSW) 2021.
Under the agreement, Masdar and EDF Renewables Israel, a wholly owned subsidiary established in 2010, will look to collaborate on existing renewable energy projects, and projects under development, while also exploring joint participation in new programs announced by the government of Israel. Israel is targeting 30 per cent of its energy coming from renewable sources by 2030, up from a previous target of 17 per cent, as it looks to phase out coal use. Achieving the new target will require an additional 15 gigawatts (GW) of solar capacity being developed over the period.