April 14 (SeeNews) - Abu Dhabi-based renewables developer Masdar and Chinese clean- and energy efficient technologies firm BYD Co Ltd (HKG:1211) have entered into a long-term alliance involving a number of renewable energy initiatives.
At first, the preferred partnership agreement between the two companies will aim to promote the commercialisation of clean transport and battery storage systems. Afterwards, its scope may also include photovoltaic (PV) panels for both utility-scale and rooftop projects, as well as light-emitting diode (LED) and solar-powered street lighting.
Via this collaboration, Masdar will try to take advantage of BYD’s green energy know-how in order to pursue growth opportunities particularly in the Middle East and North Africa, according to CEO Mohamed Al Ramahi.
The move aligns with the Abu Dhabi city project’s strategy to interconnect its research and development (R&D), education, business and investment and will serve as a platform to showcase BYD’s technology. The agreement will also provide access to ongoing research at the Masdar Institute of Science and Technology and many other demonstration schemes across the city, such as the Personal Rapid Transit (PRT) driverless vehicles programme and the Electric Energy Storage Solutions Hub.
The Shenzhen-based corporation is the largest manufacturer of rechargeable batteries and electric vehicles (EV) worldwide and a top player in the electrified public transportation segment. BYD has a 1-GW photovoltaics (PV) production capacity, as well.