Tag Archives: climate-change

Business & Investments

Masdar Accelerates U.S. Renewables Expansion

Closes Acquisition of 50% Stake in Terra-Gen

  • Masdar’s joint ownership of Terra-Gen demonstrates long-term commitment to investing in and supporting U.S. energy transition
  • Terra-Gen’s gross operating portfolio comprises 3.8GW of wind, solar and battery storage projects, including 5.1GWh of energy storage facilities across 30 renewable power sites
  • Terra-Gen’s 12GW+ pipeline includes new windfarm and new solar park to start commercial operations in 2025

ABU DHABI, United Arab Emirates & NEW YORK – OCTOBER 01, 2024 – Abu Dhabi Future Energy Company PJSC – Masdar (“Masdar”), the United Arab Emirates’ clean energy powerhouse, today announced the closing of its acquisition of a 50 percent stake in Terra-Gen Power Holdings II, LLC (“Terra-Gen” or “the Company”), one of the largest independent renewable energy producers in the United States, from Energy Capital Partners (“ECP”).

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Business & Investments

Al Seer Marine Expands Fleet with Delivery of two new MR Tankers: M.T. Betelgeuse and M.T. Bellatrix

  • M.T. Betelgeuse and M.T. Bellatrix are IMO II/III oil and chemical tankers, designed to carry six fully segregated grades of cargo, with a deadweight of 49,757 MT each.
  • The six state-of-the-art MR tankers are built ready for alternative fuels such as Liquified Natural Gas (LNG), ammonia, and methanol.

Abu Dhabi, September 26, 2024: Al Seer Marine (ADX: ASM), a frontrunner in various maritime industries and a subsidiary of International Holding Company (ADX: IHC), has recently taken delivery of M.T. Betelgeuse and M.T. Bellatrix, the first two in a series of six New Building MR tankers from K Shipbuilding Korea. These new additions are intended to meet the rapidly growing demand for the transportation of clean petroleum products (CPP) and chemicals.

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Business & Investments

Masdar to Acquire Saeta from Brookfield for $1.4 Billion

  • As an established renewables platform equipped with end-to-end capabilities and strong growth opportunities, Saeta strengthens Masdar’s footprint in the Iberian Peninsula
  • Successful execution of Brookfield’s business plan resulted in significant value creation and growth of Saeta
  • The transaction would see Masdar acquire a portfolio of 745MW of predominantly wind assets, and a 1.6GW development pipeline in Spain and Portugal
  • Deal advances Masdar’s growth plans in the region, representing one of Spain and Portugal’s largest renewable energy transactions, as the company targets global capacity of 100GW by 2030
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