Masdar to build CSP plant worth up to $500 million
ABU DHABI - Abu Dhabi Future Energy Company (Masdar) will invite bids to build, own and operate a 100 MW Concentrating Solar Power (CSP) plant by early March, costing $400-500 million.
"The project named Shams, which would be built in the town of Madinat Zayad in the western region of Abu Dhabi, would be the first of many CSP plants to be setup in the UAE, to feed electric power to the national grid," said Ziad Tassabehji director, Innovation and Investment Unit, at Abu Dhabi Future Energy Company (Masdar).
The plant will use parabolic trough technology and is expected to be operational by the end of 2010.
He said that bids would be invited for engineering procurement and construction (EPC) along with technology and the capital to setup the project. "We are expecting five/six bidders to the project."
Tassabehji said Masdar provides market-driven incentives for carbon management, by monetising greenhouse gas emission reductions in compliance with the Clean Development Mechanism (CDM) framework of the Kyoto Protocol.
Masdar is leveraging the CDM to promote sustainable growth in the region offering companies in developing economies the opportunity to receive tradable 'carbon credits' against project-based emissions reduction," he said, adding that Masdar provides an end-to-end solution for project developers under the CDM, including investment, technical assistance, project management and carbon finance.
He said that the company is currently developing a portfolio of Clean Development Mechanism (CDM) projects with major asset owners in the UAE and the Middle East,including Abu Dhabi National Oil Company (Adnoc), Abu Dhabi Water and Electricity Authority (ADWEA) and Dubai Aluminum (Dubal).
Masdar also advancing sustainable infrastructure projects, leading to sizeable carbon emission reductions, with a particular focus on CO2 Capture and Storage (CCS).In March 2007, Masdar announced a strategic initiative aimed at developing an Abu Dhabi-based national CCS network for enhanced oil recovery.
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