Masdar and Silk Road Fund to Co-Invest $2.8bn in Renewable Energy Projects

Strategic Partnership for Clean Energy Expansion
Masdar, the leading clean energy company based in Abu Dhabi, has partnered with China’s Silk Road Fund (SRF) in a landmark agreement to co-invest up to $2.8 billion in renewable energy projects across countries participating in the Belt and Road Initiative (BRI). This MoU was officially signed during the 2024 United Nations Climate Change Conference (COP29) and aims to advance the development of clean energy projects in the Middle East, Southeast Asia, Central Asia, and Africa, all of which are integral members of the BRI.

Boosting Masdar’s Renewable Energy Goals
Masdar’s CEO, Mohamed Jameel Al Ramahi, emphasized that this partnership aligns with the company’s goal of reaching 100 gigawatts (GW) of renewable energy capacity by 2030. The deal will enable Masdar to enhance its existing renewable energy projects and expand its footprint across the BRI regions, with a particular focus on solar and wind energy solutions. By leveraging the financial strength and global influence of the Silk Road Fund, the collaboration is set to drive major growth in Masdar’s portfolio and contribute to sustainable energy transitions in emerging markets.

Silk Road Fund’s Role in the Global Energy Transition
The Silk Road Fund has invested heavily in renewable energy, with a portfolio exceeding 7GW across the Belt and Road regions, including Africa, Southeast Asia, the Middle East, and Latin America. The fund is focused on sustainable development, supporting the UN’s sustainability goals through strategic investments. Chairwoman Zhu Jun highlighted that the partnership between SRF and Masdar is a powerful example of how China and the UAE are working together to develop and scale sustainable energy solutions. This collaboration not only strengthens the clean energy sector but also deepens the economic and trade relationship between the two nations.

Strengthening UAE-China Energy Ties
The agreement further solidifies the UAE’s role as a key participant in the Belt and Road Initiative, with significant investments already made in joint projects, including a $10 billion China-UAE fund to support energy and infrastructure projects in East Africa. In addition to its work with SRF, Masdar recently signed an agreement with the Ministry of Energy in Uzbekistan to develop a 1GW wind farm in the Mingbulak region, reinforcing its leadership in the global clean energy market.

Looking Ahead: A Collaborative Approach to Global Clean Energy
As part of its ambitious clean energy expansion, this partnership with SRF represents a major step forward in Masdar’s strategy to become a global leader in renewable energy. The BRI’s continued growth and the increasing global demand for clean energy make this collaboration an important driver for the transition to a sustainable, low-carbon economy.