Masdar Named Energy Company of the Year

Masdar was recognised today as ‘Energy Company of the Year,’ and honoured with ‘Energy Business Leader of the Year’ distinctions during the first-ever Gulf Business Industry Awards. The awards underscore Masdar’s commitment to maintaining Abu Dhabi’s leadership position in the evolving energy market, and the company’s critical role in helping the Emirate move from a resource-based economy to one based on knowledge and innovation. The Gulf Business Industry Awards are the GCC’s benchmark for recognising and trumpeting local business achievement. The awards distinguish outstanding companies and executives whose leadership and business models promote strong financial standing, continued innovation and impactful growth. ‘It’s an absolute privilege to be recognised as Energy Business Leader of the Year,’ said Dr. Sultan Ahmed Al Jaber, Chief Executive Officer of Masdar, Abu Dhabi’s multifaceted renewable energy company. ‘These awards emphasise the momentum at Masdar, and the visible progress being made to transform Abu Dhabi into a future energy leader. With rapidly evolving energy markets, Masdar is ensuring Abu Dhabi remains a dominant energy exporter – from valuable hydrocarbons to renewable energy. ‘The UAE’s environmental stewardship was instilled by our nation’s founding father and president, the late Shaikh Zayed Bin Sultan Al Nahyan,’ added Dr. Al Jaber. ‘It’s that spirit that continues to drive this nation, as we look for ways to conserve our resources, integrate sustainable development, and make long-term investments for our future social and economic growth translating the leadership’s wise vision into reality.’ As the region’s largest and longest-standing monthly business publication, Gulf Business is celebrating the UAE’s most distinguished leaders and companies from nine sectors including aviation, banking, education, energy, IT/technology, media and marketing, real estate, retail and tourism. ‘Diversifying the energy mix – bringing online renewable sources of power to complement our oil and gas – is a critical step in addressing our growing domestic demand for energy and diversifying our economy,’ added Dr. Al Jaber. Launched by the Abu Dhabi leadership in 2006, Masdar is contributing to the diversification of Abu Dhabi’s economy and energy sources. Working across the value chain, the company invests in research, clean-technology companies and large-scale renewable power projects. Masdar’s flagship solar power project in Abu Dhabi, the 100MW Shams One, is the largest solar project in the Middle East and North Africa. Masdar has also developed projects in the United Kingdom and Spain, while also investing in clean-technology companies across North America, Europe and Asia. Earlier this year, Dr. Al Jaber received the United Nations’ Champions of the Earth award. Organised by the United Nations Environment Programme, the award honoured Dr. Al Jaber for his positive impact on the environment. Momentum for Abu Dhabi – and its role in the global energy landscape – continues this January with the start of Abu Dhabi Sustainability Week (ADSW). The global gathering will address the full spectrum of the business, technology and financial challenges that are required for sustainable development. Taking place January 13-17, ADSW will be the largest gathering on sustainability in the history of the Middle East. The event will draw more than 30,000 participants from 150 countries, including globally recognised leaders from governments, the private sector, academia, non-governmental organisations and other stakeholders. Events that will take place under the umbrella of ADSW include: The Assembly of the International Renewable Energy Agency (IRENA) from January 13-14; the 6th annual World Future Energy Summit (WFES) from January 15-17; the International Water Summit (IWS) from January 15-17; the 5th annual Awards Ceremony for the Zayed Future Energy Prize on January 15; and the International Renewable Energy Conference in Abu Dhabi (ADIREC) from January 16-17. Together, these gatherings will act as a platform enabling governments, businesses and organisations to demonstrate their sustainability achievements and share their knowledge.