Masdar has inked an agreement with Bapco Energies to jointly explore the development and investment in wind projects in Bahrain with a capacity of up to 2 GW. This will be the first project of its kind in the region and the Middle East. This clean energy collaboration will support the Kingdom of Bahrain to accelerate the decarbonization of critical industrial sectors and open avenues to develop new market sectors.
In March 2024, Masdar secured €488 million in funding for its 49 percent ownership in Germany’s Baltic Eagle offshore wind farm. It will be situated 30 km northeast of Rügen Island and will have the advantage of an initial 20 years of operation with a guaranteed minimum price of €64.6 per MWh. By the end of 2024, the €1.6 billion Baltic Eagle wind farm is expected to be operational.
