Masdar and EDF Renewables announced today that they have signed a strategic agreement to explore renewable energy opportunities in Israel and support the country’s clean-energy objectives.
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar and Bruno Bensasson, EDF Group Senior Executive Vice-President Renewable Energies and Chairman and Chief Executive Officer of EDF Renewables, signed a memorandum of understanding (MoU) at a virtual ceremony held on the side lines of Abu Dhabi Sustainability Week (ADSW) 2021.
Under the agreement, Masdar and EDF Renewables Israel, a wholly owned subsidiary established in 2010, will look to collaborate on existing renewable energy projects, and projects under development, while also exploring joint participation in new programs announced by the government of Israel. Israel is targeting 30 percent of its energy coming from renewable sources by 2030, up from a previous target of 17 percent, as it looks to phase out coal use. Achieving the new target will require an additional 15 gigawatts (GW) of solar capacity being developed over the period.
Speaking of the agreement, Dr Yuval Steinitz, Israel's Minister of Energy, said, "We are seeing the first fruits of the Abraham Accords in the field of energy! We welcome all investment that brings us closer to achieving the targets that I set for solar energy in Israel. The new partnership between Masdar from the United Arab Emirates and EDF - an international company that invests in renewable energy around the world and operates in Israel for a decade - is an expression of confidence in Israel's energy market and will help us achieve our goal of becoming a world leader in solar energy within six to seven years."
"The UAE and Israel have embarked on a new era of co-operation on renewable energy and associated technologies, which will benefit both our nations and support our clean-energy objectives. Israel is known for its innovation ecosystem and we look forward to working in partnership with EDF Renewables Israel on developing solutions that will drive the energy transition," said Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar. "This also strengthens our already powerful partnership with EDF Renewables, with whom we are already working together on projects across the Middle East and North Africa, and in North America."
"Israel is a country with an attractive long-term potential for renewable energies and innovative technologies, where EDF Renewables has developed a leading position, especially in solar energy. I am very happy to extend to new geographies, our trusted partnership with Masdar and to sign this strategic alliance today in Israel. By joining our forces with Masdar on the Israeli market, we will strengthen the leading position that the teams of EDF Renewables Israel have achieved over the last decade", added Bruno Bensasson, EDF Group Senior Executive Vice-President Renewable Energies and Chairman and Chief Executive Officer of EDF Renewables.
Masdar and EDF Renewables are already partnering on a number of projects in the Middle East and North Africa region, including the Al Dhafra solar project – set to the be the world’s largest single-site solar plant. The companies are also collaborating on the 800-megawatt (MW) third phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, and are part of the consortium developing the largest wind farm in the Middle East, the 400MW Dumat Al Jandal project in Saudi Arabia.
Last year, Masdar and EDF Renewables also agreed to partner in eight renewable energy projects in the United States, including wind, solar, and battery storage assets, for a total combined capacity of 1.6 GW.
EDF Renewables Israel operates and manages 18 medium and high-voltage projects connected to the grid, totalling 323 MWp in operation, and is currently building 17 more ground-mounted and floating projects for an additional 255 MWp, to be connected in 2021.
