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About New Energy- CGGC International and Masdar of the United Arab Emirates Signed A Strategic Cooperation Agreement
Date:2021-01-23 VisitCount: Font size:[ L M S ]
On January 21, during the 2021 Abu Dhabi Sustainable Development Week, CGGC International and Masdar of the United Arab Emirates signed a memorandum of understanding on cooperation for sustainable development collaboration. The two sides agreed to promote strategic cooperation in the field of renewable energy worldwide. Lyu Zexiang, Party Secretary and Chairman of CGGC International, and Mohamed Jameel Al Ramahi, CEO of Masdar, signed the agreement on behalf of both parties through video. Liu Huailiang, General Manager and Deputy Party Secretary of CGGC International, attended the signing ceremony.

Scene of signing ceremon

In his speech, Mr. Ramahi said that Masdar, as one of the most competitive developers of electric power in the world, had invested 11 GW in electric power projects worldwide, with a total amount of about USD 20 billion. In the post-epidemic era, the investment and construction of global renewable energy has broad prospects, and Masdar is actively committed to investment and development of renewable energy. As one of the world's leading international engineering companies, CGGC is also the Chairman Unit of the New Energy International Investment Alliance and a global strategic partner that Masdar can trust. The signing of this Memorandum of Understanding opens a new chapter of practical cooperation between the two sides, and the implementation of more cooperation projects can be expected.

In his speech, Lyu Zexiang congratulated on the success of the Abu Dhabi Sustainable Development Week. He expressed that Masdar, as the world's leading developer of clean energy, has broad market influence in the Middle East and a number of regions around the world. CGGC International is willing to give full play to its advantages in the investment, construction and operation of renewable energy and its overseas layout, to strengthen comprehensive cooperation with Masdar in the fields of global solar energy, wind energy, energy storage, seawater desalination and garbage power generation under the framework of energy cooperation between China and Arab countries. CGGC International is looking forward to exploring new and more collaborative results in 2021.

In 2020, affected by the COVID-19 epidemic, the global power market saw a significant decline in demand, but the global energy transformation has been accelerating. Global renewable energy generation grew by nearly 7% year-on-year, accounting for 28% of global total power generation, making it one of the most important power sources in the world. Under the vision of "3060 Target", CGGC International will always adhere to the cooperation philosophy- "the other party has needs, our party boast advantages, the two parties recognize mutual understanding, and cooperation will lead to win-win results”, and will actively explore the in-depth cooperation with global quality partners in key regions and even around the world, to continuously forge new development advantages.

Masdar, founded in 2006, is headquartered in Abu Dhabi and is a wholly-owned subsidiary of Mubardara Investment Company, the sovereign investment fund of the Government of Abu-Dhabi. Masdar is committed to renewable energy development investment and sustainable urban development, and is one of the most competitive developers of renewable energy generation projects.
Yousif Al Ali, Director of Masdar Renewable Energy, Mohamed Al Shehhi, Head of the Investment and Development Team, Chen Xiangdong, Deputy General Manager of CGGC International, and relevant personnel of the Thermal Power New Energy Department attended the above activities.

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