Abu Dhabi’s state-owned renewable energy company, Masdar, is evaluating the possibility of an initial public offering (IPO) to fund its expansion in the renewable sector, sources familiar with the matter told Reuters. The company is considering a primary listing on the Abu Dhabi Securities Exchange, with the potential for a dual listing in New York also under discussion. Any IPO would not occur before 2026, and the company may ultimately decide against proceeding.
Masdar, jointly owned by TAQA (43%), Mubadala Investment Company (33%), and ADNOC (24%), has stated that it currently has no plans to go public and does not comment on market speculation. The company’s focus remains on integrating and scaling its operations to achieve ambitious growth targets, including increasing its renewable energy capacity to 100 gigawatts by 2030, up from approximately 51 gigawatts currently in various stages of development.
Operating in over 40 countries, Masdar has been actively expanding its global footprint. In March 2025, the company agreed to acquire a 49.9% stake in a solar portfolio controlled by Spain’s Endesa for about $200 million, expanding their existing partnership. Additionally, in November 2024, Masdar completed the acquisition of a 70% stake in Greece’s Terna Energy, a deal valuing the Greek renewables firm at €3.2 billion.
The Middle East has emerged as a hotspot for IPO activity, with the region raising $12.6 billion in 2024, according to EY, amid a slowdown in other markets such as Europe.
