UAE’s Biggest Clean-Energy Firm Looks at Deals in US, Europe

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 The United Arab Emirates’ biggest renewable-energy company will make acquisitions and sell bonds as part of a plan to more than double its operations this decade and help the country achieve a net-zero target.


Masdar is interested in acquisitions of power firms in places such as the US and Europe, Chief Executive Officer Mohamed al Ramahi said in an interview at the COP27 climate summit in Sharm el Sheikh, Egypt.


Masdar is owned by Abu Dhabi National Oil Co., wealth fund Mubadala and Taqa, the emirate’s main utility. It recently bought UK-based Arlington Energy, a developer of battery-energy storage. It also signed a memorandum of understanding earlier this year to buy a stake in a BP Plc-led project to make green, or carbon-free, hydrogen in Teeside in the north of England.

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