Masdar has signed two strategic agreements with European energy partners during the state visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, to Germany. The agreements cover offshore wind and battery energy storage, with Masdar planning investments in energy infrastructure in Germany and wider Europe.
Masdar signed a memorandum of understanding with RWE to explore joint participation in future German offshore wind auctions. The agreement has an indicative investment value of more than €3 billion and builds on the existing partnership between the two companies.
In a separate agreement, Masdar and Luxcara, a German asset manager for energy infrastructure, signed a memorandum of understanding to establish a strategic partnership focused on the energy transition in Germany and wider Europe.
The partnership will explore investments in battery energy storage systems and offshore wind, as well as potentially other technologies. The parties said the potential overall value of these investments could exceed €5 billion.
