What Serbia and the wider region mean to Masdar, and how the company has managed over two decades to develop renewable energy projects in an area traditionally reliant on fossil fuels – these were among the topics addressed by Masdar’s Chief Executive Officer Mohamed Jameel Al Ramahi in an exclusive interview at the RES SERBIA 2026 Conference in Vrdnik.
Just one day after Masdar from the United Arab Emirates and Finland’s Taaleri Energia officially commissioned the Čibuk 2 wind park in Kovin, Al Ramahi shared with more than 600 participants in Vrdnik the story of Masdar’s journey – from its first solar projects to becoming one of the global leaders in renewable energy.
– We were founded 20 years ago and became pioneers of renewable energy in our region, which was traditionally known for conventional energy production, mostly from gas, as we were fortunate to have large reserves of fossil fuels. When the Government of the United Arab Emirates made the strategic decision to diversify energy sources, renewables were not yet at this level, nor were they competitive. But it was the vision of our leaders not to depend on a single source of energy. We have gas in abundance, yet our government decided to invest in clean sources, as well as in nuclear energy – and we became the first Arab country with a nuclear power plant. We do not import energy; we export it – Al Ramahi emphasized in conversation with Tamara Bullock, Director of Altitude.
Masdar today has a global portfolio exceeding 65 gigawatts across more than 40 countries, with the goal of reaching 100 gigawatts by 2030. As Al Ramahi pointed out, it all began with a 10 MW solar plant in Abu Dhabi.
– It took time to build trust. We believe in energy security, and we think this is an issue of importance for every government worldwide, only people don’t realize it until a crisis occurs, and then it’s too late – he said.
How Serbia Has Changed in Ten Years
Speaking about the company’s plans in Serbia, Al Ramahi revealed that he first came to Belgrade with his team more than a decade ago.
– During that time, we witnessed the evolution of policy, we saw the country grow and change, and we were part of the shift toward low‑carbon development. Yesterday we inaugurated our second wind park, which is a blessing. Everything we do, we do through partnerships. We cannot achieve anything without the state, but there are also other partners willing to co‑finance with us. Without the EBRD, we would not have been able to realize Čibuk 1. And I thank Serbia for producing great minds – he emphasized.
According to Al Ramahi, Serbia and the Western Balkans are central to Masdar’s future in Europe, with the company ready to bring more capital and investment into the wider region. However, he stressed that regional cooperation, stronger interconnections, and improved grid infrastructure are essential.
– We believe in an open market. Electricity can be produced in Serbia and sold in Hungary. I am optimistic, but we must also speak openly about the problems caused by delays in issuing permits – he added.
Renewables as the Backbone of Every System
The Masdar CEO also reflected on changes in the renewable energy industry, which he noted has become one of the cheapest and most competitive today.
– The backbone of every system must be renewable energy. We cannot ignore the fact that other sources are still needed, but at the core renewables must prevail. Today the system is highly competitive, and every country should take advantage of what the market offers. Our goal is simple: to deliver cleaner, more reliable solutions – Al Ramahi concluded at the RES SERBIA 2026 Conference.
As a reminder, Masdar from the United Arab Emirates and Finland’s Taaleri Energia officially commissioned the 154‑megawatt Čibuk 2 wind farm on Monday, located in the municipality of Kovin, southeast of the existing Čibuk 1 wind park. The second project within the Čibuk complex raises the total installed capacity to 312 megawatts, enough to supply around 178,800 Serbian households with electricity.
