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Abu Dhabi Aspires to Become Global Hub of Renewable Energy
T Ramavarman / 18 January 2009
ABU DHABI - Abu Dhabi’s forays into the alternative energy sector are part of a well-chalked out plan to make the emirate a global hub of renewable energy, and are organically linked to its strategy of building world-class and competitive economy.
This was stated by the Dr. Sultan Al Jaber, the CEO of Masdar Initiative — a multi-faceted initiative launched by the UAE in April 2006 for advancing the development, commercialisation and deployment of renewable and alternative energy technologies and solutions — in an interview with Khaleej Times here.
The interview was done in the context of the World Future Energy Summit (WFES) being hosted here by Masdar from January 19 to 21.
Hailing the decision of the government to launch the Masdar Initiative, Dr Sultan Al Jaber said, “
To put it simply, Masdar makes sense. Masdar has grown out of
Masdar is a key element of the Abu Dhabi 2030 Plan and the Government of Abu Dhabi’s strategic policy framework. Both of these policies share a vision that seeks to build a sustainable, open and globally competitive economy.
Recalling that the first annual World Future Engery Summit was held last year in
This second annual WFES is also being arranged by Masdar to bring together the world’s leading innovators, educators, scientists, venture capitalists and experts in the field of alternative and renewable energies. WFES 09 again will stimulate innovative solutions for some of the most pressing challenges of our time: energy conservation, energy security, the environment and truly sustainable human development.
The summit is being held under the patronage of General Shaikh Mohammad bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. It will be the largest meeting of the future energy movement and the premier event for world leaders to preview new solutions and technologies and seek partners, he said.
What are the other sources of energy available, tapped and explored here? To this he said, “Masdar is engaged across the full spectrum of renewable energy.
“We are also making investments in other kinds of renewable energy, including wind. We have taken a significant stake in WinwinD, a leading European turbine manufacturer. We are exploring the development of a wind farm on
Masdar, is a wholly owned company of the government of
In May 2008, Masdar invested in a new company, Masdar PV in
In the first quarter of 2009, Masdar PV will break ground on a thin-film manufacturing facility in
In addition to developing our own projects within
Independent of Torresol Energy, Masdar is developing CSP plants in
How far Masdar has progressed? “2008 was a productive year for Masdar, beginning with the inaugural World Future Energy Summit last January. In February, we broke ground on
“We are also excited that the Masdar Institute faculty and facilities are in place, and we have 24 pre-class students who are currently doing research projects and will begin their studies this fall.”
On the impact of the global financial meltdown on Masdar Dr Sultan Al Jaber said: “Many of the issues Masdar addresses, such as energy conservation, energy security, the environment and truly sustainable human development, are not tied to the economic markets — they are the most pressing challenges of our time and must be addressed regardless of the state of the global economy.”
Furthermore, investments in sustainability and renewable energy provide an opportunity to stimulate the economy and jumpstart growth through the development of an entirely new economic sector, he added.
Masdar provides market-driven incentives by creating and monetising greenhouse gas emission reductions, primarily in compliance with the Clean Development Mechanism (CDM) framework of the Kyoto Protocol. Masdar views the CDM as an exceptional opportunity for Abu Dhabi to lead sustainable growth in the region and to simultaneously address global environmental concerns, offering companies in developing economies around the world the opportunity to receive tradable “carbon credits” against project-based emissions reduction.
Masdar is currently developing a large portfolio of CDM projects with major asset owners in the UAE and the
Ten quick facts about Masdar Eco-city
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