UAE – Masdar, a leading renewable energy company, has signed a Memorandum of Understanding (MoU) with China’s Silk Road Fund (SRF) to explore co-investment opportunities in renewable energy projects across Belt and Road Initiative (BRI) countries, focusing on the developing world and the global south.
The agreement, signed during COP29 by Masdar CEO Mohamed Jameel Al Ramahi and SRF Chairwoman Zhu Jun, aims to establish a strategic partnership for investments in renewable energy ventures that Masdar develops, operates, or invests in.
Under the partnership, SRF plans to allocate up to RMB 20 billion (approximately US$2.8 billion) for co-investments alongside Masdar.
Masdar, which already holds significant renewable energy assets in the Middle East, Central Asia, Southeast Asia, and Africa—key regions within the BRI framework—continues to expand its global footprint.
The company is on track to achieve its goal of 100GW renewable energy capacity by 2030. Similarly, SRF’s renewable energy portfolio exceeds 7GW in BRI regions, including the Middle East, Africa, Southeast Asia, and Latin America.
Masdar CEO Mohamed Jameel Al Ramahi remarked, “This collaboration between two entities with substantial investments in renewable energy projects in emerging markets and the global south will significantly advance the energy transition. We are excited about this rewarding partnership with Silk Road Fund.”
Zhu Jun, Chairwoman of SRF, emphasized the strategic importance of the partnership, “The UAE is a key participant in the Belt and Road Initiative and a critical investment and trading partner for China.
“This collaboration demonstrates both parties’ shared commitment to sustainable energy development globally, while further enhancing investment ties between our nations.”
The Belt and Road Initiative connects Asia, Europe, Africa, and other regions through infrastructure and trade projects, fostering economic, trade, and investment synergies.
The UAE, an active BRI partner since the initiative’s inception, has invested $10 billion in a joint China-UAE investment fund to support BRI projects, including those in East Africa.
This partnership underscores the shared vision of Masdar and SRF to accelerate the global energy transition, leveraging their combined expertise and resources to drive sustainable energy development in key markets worldwide.
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