Masdar and Silk Road Fund Join Forces for Green Energy Investment

Abu Dhabi Future Energy Company PJSC – Masdar, a leader in the UAE’s clean energy sector, has partnered with China’s Silk Road Fund (SRF) to explore joint investment opportunities in renewable energy projects. The collaboration will focus on countries involved in the Belt and Road Initiative (BRI), with particular attention to developing regions and the global south.

Signing of Memorandum of Understanding at COP29

The Memorandum of Understanding (MoU) was officially signed at COP29, where Masdar’s Chief Executive Officer, Mohamed Jameel Al Ramahi, and Silk Road Fund’s Chairwoman, ZHU Jun, formalized the agreement between the two organizations.

Details of the MoU and Investment Plans

As part of the MoU, Masdar and Silk Road Fund will collaborate strategically on renewable energy projects, targeting opportunities developed or operated by Masdar. Silk Road Fund has committed to investing up to RMB 20 billion (approximately USD 2.8 billion) alongside Masdar in these projects.

Masdar’s Expanding Global Presence

Masdar, which has a strong presence in the Middle East, Central Asia, Southeast Asia, and Africa, will continue to invest in regions that participate in the BRI. This is aligned with its goal to achieve 100GW of renewable energy capacity by 2030, further solidifying its leadership in the global clean energy transition.

Silk Road Fund’s Renewable Energy Portfolio

The Silk Road Fund, with an established renewable energy portfolio of over 7GW in BRI countries, focuses on regions like the Middle East, Africa, Southeast Asia, and Latin America. SRF is committed to advancing sustainable development by collaborating with high-quality strategic and financial partners, aligning with the United Nations’ sustainability goals.

Commenting on the MoU, Masdar’s Chief Executive Officer, Mohamed Jameel Al Ramahi said: “This collaboration between two companies with significant investments in renewable energy projects in emerging markets and the global south will provide a major impetus to efforts to advance the energy transition. We look forward to a successful and rewarding partnership with Silk Road Fund.”

Silk Road Fund’s Chairwoman, Zhu Jun said: “The UAE is a key Belt and Road Initiative participant and one of the most important investment and trading partners for China. The partnership between Silk Road Fund and Masdar is a strong testament to both parties’ commitment to the development of sustainable energy on a global scale, and will act as an enabler to help further strengthen investment collaboration between the two countries. We look forward to working with Masdar as well as other partners to jointly build ‘the Green Silk Road’ in the decades to come.”

BRI’s Role in Global Connectivity and Investment

The Belt and Road Initiative (BRI) links Asia, Europe, Africa, and other regions through a network of infrastructure and trade projects. This initiative aims to enhance economic, trade, and investment relationships among participating countries, supporting mutual growth and development.

UAE’s Active Role in the BRI

The UAE has been a key supporter of the BRI since its inception and has contributed $10 billion to a joint China-UAE investment fund, specifically aimed at supporting BRI initiatives in East Africa.

Masdar’s Commitment to Global Sustainability Goals

Since its founding in 2006, Masdar has played a crucial role in the UAE’s mission to become a global leader in sustainability and climate action. The company has successfully partnered on projects in over 40 countries and aims to increase its renewable energy capacity to 100GW by 2030. Additionally, Masdar has set a target to produce 1 million tonnes per year of green hydrogen by 2030, supporting the global shift to cleaner energy solutions.