Mubadala

The state-owned UAE clean power developer appears to have quadrupled its previously announced ambition today as it announced its $20 billion renewables portfolio rose from 10.7GW to more than 15GW last year.

Masdar’s latest, 400 MW solar project win followed hot on the heels of the award of the contract to develop a 457 MW solar field elsewhere in the central Asian nation.

Abu Dhabi-based renewable energy group Masdar is sailing into the Southeast Asian solar market with Indonesia’s first floating solar project. The petro-state owned developer says the facility will be the largest in the region.

State-owned Masdar Clean Energy is in talks to acquire a 30-35% stake in Hero Future Energies. With the stake sale, the renewable energy arm of Hero Group expects to raise $300-350 million for its expansion into global markets, according to reports.

The CEO of Masdar has reportedly told Reuters of his company’s ambition and said it would partly be achieved by developing projects in new territories.