|Masdar-City Clean Energy, GE and Mubadala $8 Billion Investment Group Venture|
July 31, 2008
Total plans from ABUDHABI go for more than $15 bn in renewable energy investment.
Among other projects, world's super manufacturer of solar thin film PV
with german companies, MIT institute US for education and
projects. Lord Foster UK the leading archtect.BP investing
$2bn in Hydrogen plant.
Located near Abu Dhabi International Airport,
Masdar City will be the world’s first zero-carbon,
zero-waste, car-free city, aiming to exceed the 10
sustainability principles of “One Planet Living” -
a global initiative launched by WWF
and environmental consultancy BioRegional.
Photovoltaic panels will generate Masdar City’s
electricity, while cooling will be provided via
concentrated solar power.
Water will be provided through a solar-powered
The companies are set to establish projects in clean energy and water as well
as oil and gas.
Longer term, Mubadala aims to be one of GE's major shareholders.
Among the projects the two firms are set to work on is a clean energy
technology centre in a new city, Masdar City, that intends to be carbon neutral.