Al Ramahi: Masdar ready to invest more in Serbia and the region

What Serbia and the region mean to Masdar, and how the company managed, over the course of two decades, to develop renewable energy projects in a region traditionally reliant on fossil fuels, were among the topics discussed by Masdar CEO Mohamed Jameel Al Ramahi in an exclusive interview at the RES SERBIA 2026 conference in Vrdnik.

The day after Masdar from the UAE and the Finnish company Taaleri Energia officially commissioned the Cibuk 2 wind farm in Kovin, Mohamed Jameel Al Ramahi revealed to an audience of over 600 participants in Vrdnik the company’s journey from its initial solar power projects to becoming a global leader in renewable energy.

– We were founded 20 years ago and were pioneers of renewable energy in our region, an area known for conventional energy production methods, primarily using gas, as we were fortunate enough to possess vast fossil fuel reserves. When the UAE government made the strategic decision to diversify energy sources, renewables were neither at this level of development nor cost-competitive. However, our leaders had the vision to avoid reliance on a single energy source. We have abundant gas, yet our government decided to invest in clean energy sources as well as nuclear power; we are the first Arab nation to operate a nuclear power plant. We do not import energy, we export it – Al Ramahi emphasized during his conversation with Tamara Bullock, Managing Director at Altitude.

Globally, Masdar holds a portfolio exceeding 65 gigawatts across more than 40 countries, with a goal of reaching 100 gigawatts by 2030. Yet, as he pointed out, it all began with a 10 MW solar power plant in Abu Dhabi.

– It took time for us to build trust. We believe in energy security and consider it a vital issue for every government worldwide, though people often fail to realize this until a crisis strikes, by which point it is too late – he stated.

How Serbia has changed over the last decade

Discussing the company’s plans in Serbia, Al Ramahi revealed that he first visited Belgrade with his team over a decade before.

– Since then, we have witnessed an evolution in policy and seen the country grow and transform, and we have been part of the shift toward low-carbon operations. Yesterday, we inaugurated our second wind farm, which is a true blessing. Everything we do is based on partnerships. We cannot achieve anything without the state, but there are also other partners eager to co-finance projects with us. We could not have realized the Cibuk 1 project without the EBRD. And I thank Serbia for producing such great minds – he emphasized.

According to him, Serbia and the Western Balkans are central to Masdar’s future in Europe, and the company is ready to inject more capital and investment into the wider region. However, he stressed the need for regional cooperation, better interconnection, and grid improvements.

– We believe in an open market. Electricity can be generated in Serbia and sold in Hungary. I am an optimist, but we must also speak openly about the problems caused by delays in the permitting process – he added.

Renewable energy must be the backbone of any system

The CEO of Masdar also addressed changes in the renewable energy industry, noting that it was now among the most affordable and competitive sectors.

– Renewable energy must be the backbone of any system. We cannot ignore the fact that we still need other energy sources, but at the core, there must be renewables. The system is highly competitive today, and every country should take advantage of what the market offers. We have only one goal: to provide cleaner, reliable solutions – concluded the Masdar CEO at the RES SERBIA 2026 conference.

As a reminder, the UAE-based company Masdar and the Finnish company Taaleri Energia officially commissioned the 154-megawatt Cibuk 2 wind farm yesterday. It is located in the municipality of Kovin, southeast of the existing Cibuk 1 wind farm. This second project within the Cibuk complex raises the total installed capacity to 312 megawatts, enough to supply electricity to approximately 178,800 Serbian households.

Masdar Renewable Power Services d.o.o. Beograd

Masdar Taaleri Generation d.o.o. Beograd

Obnovljivi izvori energije Srbije

Masdar

RES Serbia

Mohamed Jameel Al Ramahi

Čibuk 2 wind farm

investments

renewable energy sources