Masdar has collaborated with Emirates Steel Arkan, an Abu Dhabi-based steel and building materials manufacturer, to create an innovative green steel project. The success of this project has far-reaching implications that will decarbonize the UAE’s challenging steel sector. The pilot initiative is the region’s first of its sort in the Middle East and North Africa. The project is presently in the installation stage and is situated in the Emirates Steel Arkan production facilities in the Industrial City of Abu Dhabi.
Reportedly, electrolyzers have already been sent to the site to aid in the production of ‘green steel,’ which is a premium product sought after by worldwide manufacturers to fulfil net-zero targets. The project is anticipated to go online in early 2024. Furthermore, it will show how iron can be extracted from iron ore, a crucial step in the steelmaking process, using renewable hydrogen rather than natural gas. Moreover, this project could mitigate carbon emissions by 95 percent in the steel-making process.
Earlier this month, ACWA Power, Masdar and State Oil Company of Azerbaijan Republic inked a memorandum of understanding to build 500 MW of renewable energy projects in Nakhchivan Autonomous Republic of the Republic of Azerbaijan. Reportedly, Chief Investment Officer of ACWA Power, Chief Executive Officer of Masdar, and Vice President of SOCAR inked the MoU.
