UAE's green energy giant Masdar names new chairman, CEO

Ahmad Belhoul is appointed new chief exec of Masdar as predecessor moves to chairman role
UAE's green energy giant Masdar names new chairman, CEO
Former CEO Sultan Ahmed al Jaber has become Masdars chairman
By Reuters
Thu 20 Mar 2014 02:18 PM

Abu Dhabi's state investment fund, Mubadala Development Company, has appointed a new chief executive at green energy firm Masdar and moved his predecessor to the chairman role, Mubadala said on Thursday.

Masdar, to which the oil-rich emirate's government has committed $15 billion, has invested over $1.7 billion in renewable energy projects around the world, including Britain, Spain, Afghanistan andMauritania.

Ahmad Belhoul has been appointed the new chief executive of Masdar, Mubadala said in a statement. His predecessor Sultan Ahmed al Jaber has become the firm's chairman.

Belhoul joins Masdar from Dubai's Department of Tourism and Commerce Marketing, where he worked as CEO of Strategy. Prior to this role, he was Vice President in the Industry unit of Mubadala.

Al Jaber will continue to serve as United Arab Emirates minister of state as well as the UAE Special Envoy for Energy and Climate Change, the statement added.

Last month, Masdar filed a legal complaint against Spain before the International Centre for Settlement of Investment Disputes over changes to renewable energy rules that have cut or eliminated subsidies for the sector and capped profits.

For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Last Updated: Sat 28 Jan 2017 04:05 PM GST

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.