Masdar has seen its renewable energy capacity increase by 87% since 2020.

The UAE-based energy giant claims it is now on track to become one the world’s largest renewable firms, having achieved a capacity of 20GW last year, generating 18,000GWh of energy.

With solar and wind projects across Uzbekistan, Azerbaijan, Egypt, Jordan, Kyrgyzstan, Turkmenistan, and Tanzania – the company has now taken the next step in its development, building the first commercial scale waste to energy project in the Middle East.

In its latest sustainability report, it also revealed that in 2022 it prevented 10 million tonnes of carbon emissions; representing an 85% increase from three years ago.

Sultan Al Jaber, Chairman of Masdar and COP28 President-Designate, said: “Our momentum will see us accelerate global clean energy growth, expand our renewable energy footprint and play a vital role in delivering the UAE’s net zero by 2050 strategic initiative.

“As the UAE prepares to host COP28, we are keen to collaborate with all parties to help the world triple renewable energy capacity by 2030 and achieve the goals of the Paris Agreement.”