Ryse Energy Moves To Masdar City To Capture US$200 Billion Off-Grid Renewables Opportunity
Ryse Energy, a global leader in renewable off-grid energy systems with over 4,000 installations across all seven continents, has moved to Masdar City, Abu Dhabi, to expand into new markets and capture the multi-billion dollar market opportunities represented in the off-grid energy space across the globe.
Discussing Ryse Energy's UAE growth plans, Alistair Munro, Founder & CEO, said: "Ryse Energy is a global leader in renewable off-grid energy systems, and as a primary manufacturer of state-of-the-art wind turbine technologies, we will be looking to manufacture and develop new innovations from our international headquarters within Masdar City and the UAE."
"Masdar City is a global hub for renewable energy and sustainable urban development, and Abu Dhabi is driving innovation through investment into renewables and sustainable technologies, so it is a natural fit for us to establish our business here and build for a greener future for all."
Ryse Energy provides wind and solar as standalone technologies, offering either grid-connected or off-grid options with energy storage. Their innovative and unique wind technologies have been combined with solar PV and energy storage to create bespoke and reliable hybrid renewable solutions, with various applications including decarbonizing infrastructure in the telecoms and oil & gas industries, to community power for rural electrification.
"The addition of the Ryse Energy to Masdar City is further evidence of its reputation as a home of innovation and research & development. We are in one of the city's most exciting periods of growth, with over 860 companies calling Masdar City home. We look forward to supporting Ryse Energy's business operations in the city, as we advance our common aim of providing clean, secure and reliable energy generation to the communities around the world that need it most," said Abdulla Balalaa, Acting Executive Director of Sustainable Real Estate at Masdar.
Despite the COVID-19 pandemic, off-grid energy systems are on a growth trajectory. According to the World Bank, with the right policies in place, off-grid renewable power plants, also known as mini-grids, have the potential to provide electricity to as many as 500 million people by 2030. Approximately US$220 billion of investment is needed to build around 210,000 mini-grid projects across the globe.
With recent wildfires destroying power lines to the national grid and disrupting power supply in North America and Australia, mini-grids have been highlighted as a solution to provide a secure and sustainable source of energy during such crisis situations. The installation of mini-grids in Sub-Saharan Africa could also provide a reliable source of power to healthcare facilities and boost economic growth through energy access to those currently living without.
The development, commercialization and marketing of Ryse Energy's innovative technologies from within the UAE will not only position Ryse Energy as a global leader in the decentralized renewable energy space, but will also contribute to the UAE and Abu Dhabi's goals to tackle climate change and sustainability as part of its climate change initiative, as well as advance the country's efforts under United Nations Sustainable Development Goal 7: Affordable and Clean Energy Access.
