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Abu Dhabi Commits $15 Billion to Alternative Energy, Clean Technology, Hydrogen

ABU DHABI, United Arab Emirates, Jan. 21 - During opening ceremonies of the World Future Energy Summit here today, Abu Dhabi announced what’s described as the most ambitious sustainability program ever launched by any government:

An initial investment of US $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 channelled through the Masdar Initiative, a company that aims to explore, develop and commercialize future energy sources. Masdar will leverage the Abu Dhabi government's initial $15 billion investment with joint ventures and other investment partners for a grand portfolio many times larger, comprised of projects in Abu Dhabi, the MENA (Middle East & North Africa) region and globally, the announcement said.

It added the emirate of Abu Dhabi, the capital of the seven-member United Arab Emirates, has been a leader in the field of hydrocarbons for nearly half a century. One of Masdar's primary objectives is to build upon Abu Dhabi's energy leadership and develop an entirely new domestic economic sector built on energy innovation and intellectual property, thereby establishing the emirate as the regional and global center of future energy solutions.

(A more detailed version of this report will appear in the upcoming February 08 issue of “The Hydrogen & Fuel Cell Letter”)

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