EAA launches 'Al Masdar'

ABU DHABI — The Executive Affairs Authority (EAA) of Abu Dhabi yesterday launched 'Al Masdar' Initiative, to create a new structure for the development and promotion of industries on global scale using renewable energy and resources in the emirate.

By A Staff Reporter

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Published: Fri 17 Mar 2006, 10:29 AM

Last updated: Sat 4 Apr 2015, 3:35 PM

The 'Al Masdar' Initiative will focus on the development and commercialisation of advanced and innovative technologies in renewable energy, energy efficiency, carbon management and monetisation, water usage and desalination. It will be based on the four elements: An Innovation Centre to support the demonstration, commercialisation and adoption of sustainable energy technologies; A world-class University offering specialist graduate programmes in renewable energy and sustainability, in partnership with leading international universities and research institutes and a specialised Development Company focused on the commercialisation of emissions reduction, and Clean Development Mechanism solutions as provided by the Kyoto Protocol on climate change.

A Special Economic Zone tailored to hosting institutions, which will invest in development, and production of renewable energy technologies and products is also planned. As part of the initiative Khaldoon Khalifa Al Mubarak, Chairman of the Abu Dhabi Executive Affairs Authority, a special corporation to oversee its commercial implementation would be set up, which will be responsible for the development of all four aspects of the 'Al Masdar' initiative, and work in close coordination with ADNOC, ADWEA, the Abu Dhabi Environmental Agency, and the Abu Dhabi Education Council, as well as other government departments.

He said: "We recognise that the future of sustainability and renewable energy lies in both increased scale and commercialisation. Our approach is therefore about creating a significant initiative; one borne out of partnership with commercial entities that already do, or will, lead the sector."

The 'Al Masdar' Initiative will see Abu Dhabi become a global centre of excellence for sustainable technologies, said Al Mubarak. "Significantly, it will also provide a strong driver for further economic diversification and a transition mechanism to the industries of the future," he added.

This significant investment in sustainability and renewable energy technologies is a logical extension

of Abu Dhabi's existing position as a leading global energy producer. We are already in numerous advanced discussions with leading academic and research bodies, the renewable energy sector and international agencies working towards sustainable development, he added.

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