The United Arab Emirates is looking to develop a “world-leading'' clean energy portfolio, with state-run giants Abu Dhabi National Oil Company (Adnoc) and national energy company Taqa to join Mubadala Investment Company as major shareholders in Abu Dhabi-based renewables player Masdar.

The newly formed strategic partnership will launch under the Masdar brand, combining their renewable energy commitment of 23GW, with a target to more than double that figure to over 50GW by 2030.

Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed Al Nahyan revealed the plan this week for the companies to combine their renewables and green hydrogen portfolios, subject required agreements being completed and necessary approvals being obtained.