London [UK], February 7: President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and German Chancellor Friedrich Merz witnessed today the exchange of a Memorandum of Understanding (MoUs) between Abu Dhabi Future Energy Company PJSC - Masdar, a global clean energy leader, and RWE, designed to support the expansion of renewables in Germany and Europe, advancing energy transformation on the continent.
The agreement was exchanged by 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.
Under the MoU, Masdar and RWE will work together to identify and pursue investments in battery energy storage system (BESS) projects in Germany. Masdar will explore investing by 2030 in existing BESS projects in the country owned by RWE, with a capacity of up to 1 gigawatt (GW). In addition, RWE and Masdar will assess the joint development of new BESS projects of up to 1 GW by 2035. Development of battery storage systems will support the expansion of renewable energy by balancing intermittent supply, therefore ensuring a stable, affordable, and secure power supply in Germany. This will also help to meet the growing demand for reliable power from new data centers.
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."
RWE's longstanding partnership with Masdar began in 2008 with their co-investment in the London Array offshore wind farm. Last month, the companies were awarded Contracts for Difference (CfDs), the UK Government's primary mechanism for enabling the deployment of low-carbon electricity at scale, for the DBS (Dogger Bank South) offshore wind farms. Representing an £11 billion investment, DBS comprises two 1.5GW projects, DBS East and DBS West, together forming one of the UK's largest offshore wind projects currently under development.
Source: Emirates News Agency
