Masdar and RWE sign agreement to support energy transformation in Germany and Europe
His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, and German Chancellor Friedrich Merz witnessed the exchange of a Memorandum of Understanding between Masdar (Abu Dhabi Future Energy Company PJSC) and RWE, a global leader in renewable energy, designed to support the expansion of renewables in Germany and Europe, advancing energy transformation on the continent. The agreement was exchanged by H.E. Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Managing Director and Group CEO of ADNOC and Chairman of Masdar, and Dr Markus Krebber, CEO of RWE, during the Chancellor’s state visit to the UAE.
Masdar and RWE will work together to identify and pursue investments in battery energy storage system (BESS) projects in Germany, under the terms of the MoU.
Mohamed Jameel Al Ramahi, CEO of Masdar, said: “Battery storage is critical to unlocking renewable energy deployment and delivering clean, reliable, affordable electricity for the benefit of consumers, businesses and communities. Germany is an important market for Masdar as we progress toward our target of 100 gigawatts of capacity worldwide by 2030 and we look forward to building on our already powerful partnership with RWE to support energy transformation in Germany and across Europe.”
Dr Markus Krebber, CEO of RWE AG, said: “The MoU with Masdar reflects the importance RWE and Masdar place on flexible energy storage as a foundation for grid stability, security of supply, and the integration of renewable energy - core pillars of Germany’s climate neutrality and energy policy objectives. Our collaboration is underpinned by a strong track record, most recently demonstrated by our joint success in the latest UK offshore wind auction for the Dogger Bank South projects. Together, we are making significant progress towards a secure and sustainable energy future for Europe.”
Masdar will explore potential investments in RWE’s battery energy storage system (BESS) projects in Germany, which have a capacity of up to 1 gigawatt (GW). In parallel, RWE and Masdar will evaluate the joint development of additional BESS projects totalling 1 GW by 2035.
The Masdar-RWE partnership began in 2008, with their combined investment in the London Array offshore wind farm.
