Masdar, Bapco Energies Eye 2 GW of Wind Projects Offshore Bahrain

Business & Finance

May 3, 2024, by Adnan Memija

UAE-based Masdar has signed an agreement with Bahrain’s Bapco Energies to explore the development and investment in wind projects in Bahrain with a potential of 2 GW capacity.

Masdar Bapco Energies — *Source: Masdar*

Marking a strategic entry into the Bahrain market for the UAE’s clean energy company, the agreement for near-shore and offshore wind farms is Masdar’s first in the Kingdom and will be the first project of its kind in the region and the Middle East.

At up to 2 GW, the collaboration could support the Kingdom of Bahrain to accelerate the decarbonization of critical industrial sectors and open avenues to develop new market sectors.

According to Masdar, the partnership aligns with Bahrain’s environmental goals, aiming to reduce emissions by 30 per cent by 2035 and achieve net-zero emissions by 2060, as outlined in its National Energy Strategy.

“As a global clean energy pioneer, Masdar will utilize its well-established expertise and track record in delivering wind energy projects globally, both onshore and offshore. It is a privilege to be supporting the Kingdom of Bahrain to achieve its net zero ambitions and power a more sustainable future,” said Mohamed Jameel Al Ramahi, Masdar Chief Executive Officer.

“This strategic collaboration signifies a bold step towards realizing the ambitions outlined in Bahrain’s National Energy Strategy, propelling us closer to our net-zero goals. Together, we will pave the way for a more sustainable and resilient future for generations to come,” according to Mark Thomas, Bapco Energies Chief Executive Officer.

Masdar is aiming for a renewable energy portfolio capacity of 100 GW by 2030, as well as supporting the target set out in The UAE Consensus to triple global renewables capacity by the end of this decade.

In March 2024, the company completed the acquisition of a 49 per cent stake in the 3 GW Dogger Bank South offshore wind projects in the UK from RWE.

Located over 100 kilometres off the northeastern coast of England, the DBS offshore wind farm will be split across two sites, DBS East and DBS West, each with a capacity of 1.5 GW and spanning 500 square kilometres.

In addition, Masdar also secured a financing package worth EUR 488 million in March from a financial institutions consortium.