Masdar and National Petroleum Construction Company agree to explore renewable energy opportunities
Masdar, a global leader in renewable energy projects, announced today that it has signed an agreement with the UAE-based National Petroleum Construction Company (NPCC), a leading engineering procurement and construction company and a subsidiary of National Marine Dredging Company (NMDC), to explore collaboration in offshore wind, green hydrogen, and other renewable energy technologies.
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, and Eng. Ahmed Al Dhaheri, Chief Executive Officer of NPCC, signed the Memorandum of Understanding (MoU) on behalf of their respective organizations, at an event held in Masdar’s head office in Masdar City. The companies will initially focus on collaboration in offshore wind and will also explore extending their efforts to cover other sectors, including green hydrogen production and battery storage technologies.
Eng. Ahmed Al Dhaheri, Chief Executive Officer of NPCC, said, “NPCC continually explores new opportunities that align with our resources and engineering expertise in decarbonization projects in support of the UAE’s climate change action initiatives and long-term sustainable development vision. Partnering with Masdar will undoubtedly contribute towards advancing energy transition in the country and open new avenues for clean energy integration and adoption.”
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said, “Masdar and NPCC share a common commitment to advancing the UAE’s leadership position in the energy sector and to driving sustainable growth. By leveraging each other’s world-class expertise in our respective fields, our combined efforts could play a vital role in achieving the UAE’s clean energy objectives and support our nation’s net-zero commitment.”
Masdar is a major developer and investor in wind projects, including a stake in the London Array, one of the largest offshore wind farms in the world, and in Hywind Scotland, the world’s first floating offshore wind farm, which became operational in 2017. This year, Masdar signed an agreement with Cosmo Energy Holdings Co., one of Japan’s largest energy companies, to explore the development of renewable energy initiatives, including offshore wind projects, in Japan.
Masdar is also working in green hydrogen development, in collaboration with a number of international partners. In December, it formed a strategic alliance with France’s ENGIE to co-develop a UAE-based green hydrogen hub, with a planned investment in the region of US$5 billion. Masdar and Hassan Allam Utilities last month co-signed agreements with leading organizations in Egypt related to development of green hydrogen production plants in the country, targeting an electrolyzer capacity of 4 gigawatts (GW) by 2030.