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January 23, 2008

Abu Dhabi to Invest $15 Billion in Renewables

Abu Dhabi, United Arab Emirates [RenewableEnergyAccess.com]

General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has announced the launch of an initial investment of $15 billion in projects targeting solar, wind and hydrogen power, carbon reduction and management, sustainable development, education, manufacturing and research and development.

"Today, as global demand for energy continues to expand and as climate change becomes a real and growing concern, the time has come to look to the future. Our ability to adapt and respond to these realities will ensure that Abu Dhabi's global energy leadership as well as our own growth and development continues."

--Dr. Sultan Al Jaber, CEO, Masdar

The investment will be channeled through the Masdar Initiative. Masdar will leverage the Abu Dhabi government's initial investment with joint ventures and other investment partners for a total portfolio many times larger, made up of projects in Abu Dhabi and around the world.

"Today, as global demand for energy continues to expand and as climate change becomes a real and growing concern, the time has come to look to the future," said Masdar CEO Dr. Sultan Al Jaber. "Our ability to adapt and respond to these realities will ensure that Abu Dhabi's global energy leadership as well as our own growth and development continues."
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Reader Comments (8)
 
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January 25, 2008

VERY GOOD DECISION .  GREAT OPPORTUNITY


Comment 1 of 8
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January 25, 2008

Great Story and we're ready for the opportunity.  It has just landed in our lap.

Jim

 

 


Comment 2 of 8
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It is high time that the entire World turns towards Wind Energy .At last Abudhabi has  begun well in this field.I wish that all GCC countries who are financially sound should go in for Wind enrgy since Gulf has huge potential for wind energy.
Comment 3 of 8
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Abu Dhabi is not too late in entering non conventional energy.Iam really happy that Gulf Countries have started involvement in Wind Energy which other GCC Countries must follow immediately
Comment 4 of 8
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January 25, 2008
I wondered when the big oil money would pour into renewables. Is this the first step or has it been happening surrepticiously for a while now? Looks like renewables will be the next big investment opportunity so I expect the progress to be exponential.
Comment 5 of 8
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January 26, 2008
"Abu Dhabi to Invest $15 Billion in Renewables,"  Here we see another example of how other nations and their leaders and citizens continue to lead the way in renewable energy development and production.  As a citizen of the U.S.A., I am gtrateful other nations are making these committments and am hopeful it will stimulate such investments in the U.S.   JerryCheesman@yahoo.com  
Comment 6 of 8
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January 26, 2008

Electric power outages threaten to choke all nations’ economic growth, all business mast to be prepared to produce they own electricity.

g.negrini@gnpimb.com
Comment 7 of 8
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January 29, 2008

Wonderful,  huge investments in Renewable energy research by ABU Dhavi  Emphasis must be laid in harnessing Solar energy by enhancing  energy conversion of photo cells more than 45% and using electricity for producing Hydrogen fuel


Comment 8 of 8
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