Abu Dhabi to Invest $15 Billion in Renewables | Renewable Energy News Article

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.

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."