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State-owned renewables giant Masdar and China’s Silk Road Fund agreed to co-invest RMB 20 bn (USD 2.8 bn) in renewable energy projects within Belt and Road Initiative (BRI) countries under an MoU, according to a statement. The partnership focuses on emerging markets and the global south, with plans to invest in projects developed, invested in, or operated by Masdar.
ICYMI- The BRI links Asia, Europe, and Africa through trade and infrastructure projects, boosting economic ties between participating regions. The UAE has been a key BRI player, investing USD 10 bn in a joint China-UAE fund to back BRI projects in East Africa.
REMEMBER- Masdar is eyeing more acquisitions across the Middle East, Europe, Asia, and the US with a fairly equal split as it looks to increase its wind and solar capacity to 100 GW by 2030, its CEO Mohamed Jameel Al Ramahi said last month.
