Abu Dhabi-based Masdar and China’s Silk Road Fund (SRF) signed a Memorandum of Understanding (MoU) at COP29 to explore renewable energy co-investment opportunities in Belt and Road Initiative (BRI) nations. SRF plans to invest up to ¥20 billion (~$2.8 billion) in projects developed, financed, or managed by Masdar, forming a strategic alliance. Masdar, targeting 100 GW capacity by 2030, operates in the Middle East, Central Asia, Southeast Asia, and Africa. SRF, with over 7 GW in renewable projects, focuses on BRI countries, including the Middle East, Africa, Southeast Asia, and Latin America. The company also plans to produce 1 million tons of green hydrogen annually by 2030. According to SRF, this partnership reinforces China-UAE collaboration under the “Green Silk Road” vision.
Masdar, Silk Road Fund to co-invest $2.8B in renewables
The partnership will target solar, wind, and other renewables across Belt and Road Initiative countries. (Image Credit/Source: Kindel Media/ Pexels)
The initiative aligns with Bhutan’s 2040 vision to achieve 25,000 MW of energy capacity while expanding into solar and geothermal energy. (Image Source: Tata Power)
The company currently operates 50 MW of solar capacity and has 283 MW in development in the Valencian region. (Image Source: NextPower UK)
The project will provide renewable energy to 600 residential subscribers, including low- and moderate-income households, at reduced rates. (Image Source: Chaberton Energy)
India, China, and Indonesia will lead APAC’s 57 GW dc floating solar capacity, achieving 31 GW (DC) combined by 2033. (Image Source: SOLARbytes)