Mumtalakat, Masdar sign MoU

Manama, Dec. 6 (BNA): Bahrain Mumtalakat Holding Company (“Mumtalakat”), signed a Memorandum of Understanding (MoU) with Abu Dhabi Future Energy Company PJSC – Masdar.

 

The MoU aims at developing partnership in the development of clean and renewable energy projects in Bahrain.

 

Mumtalakat and Masdar will collaborate to develop a pipeline of renewable energy projects, supply cost competitive green energy to Bahrain, build local capabilities and foster innovation in Bahrain by utilising their complementary expertise and know-how.

 

The two countries will also explore co-investment opportunities in other markets of common interest.

 

Shaikh Abdullah bin Khalifa Al Khalifa, Chief Executive Officer of Mumtalakat, affirmed the importance of cooperation with industry leaders and investing in sustainable technologies to achieve positive outcomes in the clean energy sector.

 

 “We firmly believe that through strategic partnerships, we can contribute towards creating a lasting positive sustainable impact for future generations,” she added.

 

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, expressed his appreciation to partner with Mumtalakat to drive clean energy initiatives in the Kingdom.

 

“At COP28, we have seen the powerful role of collaboration and shared expertise in driving positive solutions and Masdar in turn looks forward to working with our strategic partners in Bahrain to explore the development of renewable energy projects in support of the Kingdom’s sustainability goals.”

 

This MOU serves as a key milestone in the collaborative efforts of Mumtalakat and Masdar in promoting sustainable development for a greener future. It has the potential to support the creation of high skilled job opportunities in Bahrain by training and enabling local talent to actively engage in the clean energy industry. This aligns with the afforestation plan of the Kingdom, which aims to double tree planting by 2035 and achieve net zero carbon emissions by 2060.

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