Masdar, a United Arab Emirates (UAE)-based energy company, has signed an agreement with the International Renewable Energy Agency (IRENA) to cooperate on a major international knowledge project. The partnership aims to triple global renewable energy capacity by the end of the 2020s. At the UAE climate tech forum in Abu Dhabi, both organisations signed a memorandum of understanding to collaborate on a project for COP28, which will outline global targets for renewable energy by 2030. The project aims to establish a global baseline for renewable energy by focusing on solar, wind, hydropower, geothermal and battery storage.

In April 2023, Masdar concluded the purchase of a 50 per cent interest in EDF Renewables North America’s solar and battery storage project. Located in California, the Big Beau project includes a 128 MW alternating current photovoltaic solar plant and a 40MW/160MWh battery energy storage system (BESS). The solar and BESS facility is one of eight projects with a 1.6 GW capacity that the duo agreed to jointly develop.