Abu Dhabi Jan 17 (TNS): UAE base giant Masdar is planning to double its current portfolio size in renewable energy over the next five years and expand its operations to Pakistan and other countries in south-east Asia and North and South America due to an increase in demand for clean energy, a top executive of the Abu Dhabi-based firm told Gulf News in an interview on Wednesday.
Masdar is active in 20 countries with an installed capacity of nearly three gigawatts. It plans to grow to six gigawatts capacity by 2023.
“We would like to further expand into south-east Asian market and Americas both in wind and solar power generation. We are in the early stage of business development and will be screening opportunities one by one as we focus on expansion,” said Badr Al Lamki, executive director of clean energy at Masdar.
Malaysia, Thailand, Vietnam and Indonesia are some of the countries which the company is targeting to launch their operations in south-east Asia.
The clean energy firm is also looking into new opportunities in Indian sub-continent especially in India and Pakistan due to growing demand for renewable energy projects.