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Emirati renewables giant Masdar 'considering IPO'

UAE green power champion wants to build 100GW portfolio of wind, solar and other renewables assets by 2030

Masdar chair Sultan Ahmed Al Jaber, who is also the UAE Minister of Industry and Advanced Technology and managing director of Emirati oil giant ADNOC.
Masdar chair Sultan Ahmed Al Jaber, who is also the UAE Minister of Industry and Advanced Technology and managing director of Emirati oil giant ADNOC.Photo: Masdar
Journalist

Emirati state-owned renewable energy giant Masdar is reportedly considering an initial public offering.

The developer is considering a possible listing in Abu Dhabi to raise funds for renewables projects, three people with knowledge of the matter told Reuters. One said a dual listing in New York is possible.

The renewables giant has held informal talks with a bank, said one source. Two others said that if Masdar did move ahead with an IPO, this would not be before next year.

Masdar issued a statement denying the claims, saying it has “no current plans to go public.”

Masdar has three shareholders, with Abu Dhabi government majority-owned power and water firm TAQA holding the largest stake at 43%. Sovereign wealth fund Mubadala Investment Company owns 33% and national oil firm ADNOC holds the remaining 24%.

If Masdar did proceed with an IPO, it could help the company pursue its goal of building a 100GW renewables portfolio by 2030. That is almost double the 51GW portfolio it currently boasts.

Its drive to 100GW has seen the company complete several large acquisitions in the last year, including buying a 70% stake in Greece-based renewables player Terna for €3.2bn ($3.4bn).
It also paid €817m to join fellow green power giant Enel in a gigascale portfolio in Spain; and struck a deal worth $1.4bn last year to buy Spanish renewables developer Saeta Yield from Brookfield Renewable.
It was recently rumoured to be eyeing a stake in some of French oil major TotalEnergies’ renewables assets in Portugal.
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Published 26 March 2025, 10:18Updated 26 March 2025, 10:23
MasdarUnited Arab EmiratesMiddle East