Business & Money | Sunday 1 March, 2020 3:04 am |

Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, has received a coveted award normally reserved for leaders of the oil & gas industry.

Recognizing his personal legacy in advancing the clean energy transition while reflecting the increasing alignment between the conventional and renewable energy sectors in the fight against climate change, Al Ramahi collected the Gulf Intelligence International Energy Diplomacy Person of the Year Award during the fourth Middle East Energy Summit in London.

Speaking on stage after receiving the award from Steve Holliday, President of the Energy Institute, Al Ramahi described the United Arab Emirates as a first-mover in renewable energy and was bullish about its potential to become a leading player in the low-carbon economy. He further stressed the importance of strategic partnerships – to the UAE and to Masdar.

“As a global leader we have all the necessary technical expertise at Masdar, but partnerships with companies that share our values will always be part of our strategy because every market is unique,” Al Ramahi said. “We support governments in achieving their renewable energy targets besides working with the private sector – for example, we worked with Equinor to deliver one of the world’s largest offshore wind farms here in the UK.”

Al Ramahi told his audience of mostly oil & gas industry decision-makers that in 2006, when Masdar was established, few believed Abu Dhabi’s target of 7 per cent renewables by 2020 was realistic.

Fast forward to today and the emirate has far surpassed that milestone, while the UAE as a whole is pursuing an even more ambitious strategy to deliver 50 per cent of the nation’s electricity from clean energy sources by 2050. 

Masdar will shortly inaugurate the 800-megawatt third phase of the Mohamed Bin Rashid Al Maktoum Solar Park in Dubai together with Dubai Electricity Water Authority and EDF Renewables, after setting a record-low price for solar power generation. 

Masdar is also building Oman’s first utility-scale wind farm and developing the Dumat Al Jandal wind farm in Saudi Arabia, the region’s largest wind energy project to date. Later this quarter, the company will unveil Jordan’s largest solar power plant, Al Ramahi added. 

“Today we have nearly 6GW of power generating capacity either installed or under development, and more than double that in the pipeline. We are already active in 30 countries, including in Texas and New Mexico in the United States, but that is only the start.”

Commenting on the Person of the Year Award, Al Ramahi said: “Being the first CEO of a renewable energy company to receive this prestigious award is a great honour, while it further shows the astonishing progress the renewables sector has made in such a short period. The award is also a tribute to the outstanding performance of every employee of the company I am so proud to lead.”

Held on Thursday, the Middle East Energy Summit hosted by Gulf Intelligence is part of International Petroleum Week, hosted by the Energy Institute, the UK-based international professional membership organization whose patron is Her Majesty the Queen. IP Week is widely regarded as one of the world’s leading oil & gas events.