Masdar's Clean Power Generation Rises 38% to 40.2TWh in 2025

Masdar generated 40.2 terawatt-hours of clean electricity from its operating projects in 2025, a 38 percent increase from 29.2 terawatt-hours the prior year, avoiding 19.5 million tonnes of carbon dioxide equivalent in the process. The Abu Dhabi-based developer's 13th annual sustainability report shows capacity in operation or under construction climbing roughly 40 percent to 45.8 gigawatts, while its total portfolio, including 20.7 gigawatts of secured projects or those nearing final investment approval, reached 66.5 gigawatts by year-end. The expansion was driven partly by the first-time inclusion of Saeta Yield and TERNA ENERGY within Masdar's reporting boundary, additions that brought wind and solar assets across Spain, Portugal, and Southeastern and Central Europe into the platform alongside a pumped hydro storage pipeline. Chief Executive Officer Mohamed Jameel Al Ramahi framed the year's growth against Masdar's target of 100 gigawatts of capacity by 2030, saying the company's focus going forward is not simply on scale but on building a more competitive global energy business.

 

Portfolio Growth Accelerates on New Acquisitions

 

The jump from 32 gigawatts to 45.8 gigawatts of operating and under-construction capacity represents one of the larger single-year increases in Masdar's history, and the inclusion of Saeta Yield and TERNA ENERGY explains a meaningful share of that growth rather than organic build-out alone. Both acquisitions extend Masdar's operating footprint into markets it had limited direct exposure to previously, giving the company established wind and solar assets in Southern and Central Europe rather than requiring it to develop projects from the ground up in those jurisdictions. The addition of a pumped hydro storage pipeline alongside the acquired generation assets also signals a broader push into long-duration storage, a category Masdar has approached cautiously compared with battery storage until now. With 20.7 gigawatts still in the secured or near-final-investment-decision stage, the total portfolio figure of 66.5 gigawatts indicates Masdar has roughly two-thirds of its stated 100 gigawatt target either operating, under construction or substantially derisked heading into 2026, leaving the remaining gap to be closed through a mix of further acquisitions and new development.

 

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Green Bond Demand Underscores Investor Confidence

 

Masdar issued a second US$1 billion green bond in May, following the publication of an updated Green Finance Framework in March, and the offering drew investor orders of US$6.6 billion, oversubscribing the deal 6.6 times with international investors purchasing 85 percent of the bonds. That level of demand pushed Masdar's total outstanding green bonds to US$2.75 billion and came alongside investment-grade corporate credit ratings of AA- from S&P, A1 from Moody's and AA- from Fitch, all affirmed during the year. Moody's separately reaffirmed an SQS1, or Excellent, rating for the updated Green Finance Framework, while Masdar's Sustainable Fitch ESG score rose from 71 to 74 out of 100. The combination of a heavily oversubscribed bond, stable investment-grade ratings and an improving third-party ESG score suggests fixed-income investors are pricing Masdar's growth plans as broadly credible rather than treating the 100 gigawatt target as aspirational, which matters for the cost of capital behind the additional 34 gigawatts still needed to reach that goal.

 

Flagship Projects Advance Across Three Continents

 

The report credits several project milestones with driving the year's generation and capacity gains, including the start of power generation at the 476 megawatt Baltic Eagle Offshore Wind Farm in Germany, the inauguration of the 250 megawatt Nur Bukhara solar project in Uzbekistan and the securing of financing for the 2 gigawatt Al Sadawi solar project in Saudi Arabia. Each milestone sits at a different stage of the project lifecycle, from Al Sadawi's financial close through Nur Bukhara's commissioning to Baltic Eagle's operational start, illustrating a pipeline that is converting at multiple points simultaneously rather than bunching activity around a single phase. Masdar also broke ground on a gigascale round-the-clock clean energy project in Abu Dhabi that pairs a 5.2 gigawatt solar plant with a 19 gigawatt-hour battery storage system, designed to deliver 1 gigawatt of continuous power regardless of time of day. The project is explicitly positioned as a blueprint intended for replication elsewhere as global electricity demand grows, making it as much a proof-of-concept for solar-plus-storage baseload power as a standalone asset for Abu Dhabi's grid.

 

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Workforce, Biodiversity and Community Metrics Round Out the Report

 

Beyond generation and financing figures, the report documents more than 100 community initiatives delivered across eight countries during the year, alongside expanded biodiversity work that included 23 surveys, three conservation partnerships and the deployment of an Integrated Biodiversity Assessment Tool across Masdar's global portfolio. Artificial intelligence-powered bird detection technology installed at the Zarafshan Wind Farm recorded no fatalities among target species during the reporting period, a result Masdar is likely to point to as evidence that mitigation technology can keep pace with wind capacity additions rather than trailing them. On workforce composition, women represented 30.2 percent of Masdar's total workforce and 20 percent of management roles, while the Emiratization rate reached approximately 46 percent excluding international operations. Employees across Masdar's operations also completed 250,000 hours of health, safety and environmental training during the year, a figure that scales roughly in line with the company's expanding construction and operating footprint.

 

What's Next

 

With 20.7 gigawatts of secured or near-final-investment-decision capacity still to convert and a stated target of 100 gigawatts by 2030, the coming year will show whether Masdar can sustain a growth rate close to 2025's roughly 40 percent capacity increase without relying as heavily on portfolio-boundary acquisitions like Saeta Yield and TERNA ENERGY. The Abu Dhabi gigascale solar-and-storage project will also be worth monitoring as a technical proof point, since its success or delay in delivering continuous round-the-clock power could shape how readily Masdar and other developers pursue similar solar-plus-storage baseload projects elsewhere. Continued green bond issuance under the updated Green Finance Framework, and whether investor demand holds at levels similar to May's 6.6 times oversubscription, will indicate whether capital markets remain as supportive of Masdar's expansion as they were in 2025. The pace at which Saeta Yield and TERNA ENERGY are integrated into Masdar's reporting and operating structure will also be an early signal of how the company plans to handle further inorganic growth as it closes the remaining distance to its 2030 target.

 

Source: Masdar