Masdar targets Middle East expansion
Abu Dhabi-based clean energy firm plans to make more investments in 2015.
Abu Dhabi’s Masdar expects to makes more investments in Middle East renewable energy projects in the coming year.
The company believes momentum is building in the region, with Oman and Saudi Arabia likely to green light wind and solar projects in 2015, the National reports.
“Oman is stepping forward and we’re expecting Saudi Arabia to offer tenders this year,” Bader Al Lamki, the director of Masdar Clean Energy.
Mr Lamki said that 2014 was more about making new investments, but 2015 would see the company bring more projects to fruition.
The last time a Masdar Clean Energy project came online was the 100MW Shams 1 concentrated solar power (CSP) project in 2013.
Masdar is leading in Oman’s first wind power project, a 50 megawatts (MW) wind farm in the Dhofar region. The deal was signed in October and construction on the $125mn project is due to begin this year.
Masdar expects the 117MW Tafila wind farm in Jordan to complete after the summer.
The company is also active outside the region, including investments in the huge London Array wind farm and the 402MW Dudgeon wind project in the UK, which is expected to be completed by the end of 2017.