Masdar from the United Arab Emirates acquired on Thursday the majority stake in the Greek company Terna Energy.
This, of course, is more or less well known. However, the same does not apply to the person behind Masdar and by extension the new “boss” of Terna Energy.
Sultan Al Jaber established in 2006 the “green” investment fund, which operates exclusively in the Renewable Energy Sources sector.
Al Jaber, who is the head of the board of directors of Masdar (chairman), holds a series of public positions, which makes him one of the most influential personalities in the Arab country – and not only.
Specifically, he is a member of the cabinet in the federal government of the UAE, Minister of Industry and Advanced Technology, as well as the UN Special Envoy for Climate Change.
Last year, he served as president of the COP-28, the international conference to address the environmental problem. However, his simultaneous presence in the management of ADNOC (as Group CEO), the state-owned oil company, which is also one of Masdar’s main shareholders (TAQA and Mubadala are the other two state-owned shareholders), caused strong criticism, especially from environmental and activist organizations.
A global leader in renewable energy
The 51-year-old Arab, who is a graduate of a series of US universities with successive scholarships from ADNOC, has left his personal stamp on Masdar.
Under his leadership, the state-owned company has managed to “build” a huge portfolio, which extends from America and Europe to Africa, Asia and Oceania.
It is an energy “giant” with a presence in more than 40 countries, which by the end of the current decade aspires to manage at least 100GW of “green” energy.
