UAE state-owned renewable energy firm Masdar launched a $ 6 billion 1 GW solar energy facility with battery storage. The project is expected to start operations by 2027. Sultan Al Jaber, Chief Executive of Abu Dhabi National Oil Company and the UAE Minister of Industry and Advanced Technology, noted that the growth of energy-intensive applications such as ChatGPT could drive a 250% surge in power demand by 2050, reaching 35,000 GW. He emphasized the importance of diversifying energy sources to address the rising demand.

The OPEC Fund for International Development is contributing $30 million to co-finance Africa’s largest onshore wind project in Egypt’s Gulf of Suez. The project includes two 550 MW wind farms with a combined capacity of 1.1 GW. Developed by Suez Wind, a joint venture between ACWA Power and HAU Energy, the facility aims to power over 1 million homes and reduce carbon emissions by approximately 2.5 million tons annually.

Masdar announced the expansion of its renewable energy capacity from 20 GW in 2022 to 51 GW at the end of 2024—a 150% increase in two years. Its operational, under-construction, and committed capacity grew from 16.5 GW to 32.6 GW in 2024. This growth aligns with the company’s goal to reach 100 GW capacity by 2030.

France-based utilities company ENGIE announced the expansion of its flagship wind farm in Ras Ghareb, on the Gulf of Suez, Egypt. The project is being developed with Orascom Construction, Toyota Tsusho Corporation, and Eurus Energy Holdings under the Red Sea Wind Energy Consortium. The expansion aims to boost the wind farm’s capacity from 500 MW to 650 MW.

Masdar signed agreements with the Philippine government to develop 1 GW of renewable energy projects, marking its entry into the country. The agreements include an implementation agreement with the Department of Energy and a memorandum of understanding with the country’s Board of Investments. These projects will focus on solar, wind, and battery energy storage systems and are expected to be completed by 2030.