Tuesday, January 22, 2008

Energy: Abu Dhabi to go green

Local media reports that Abu Dhabi is to spend $15bn in the first phase of an initiative to develop green energy and build the world's largest hydrogen power plant.

Abu Dhabi's Crown Prince Sheikh Mohammed bin Zayed Al Nahyan told the World Future Energy Summit, the investment would be part of the Masdar initiative, set up to develop sustainable and clean energy, in the emirate.

The Peninsula quotes Sultan Al Jaber, CEO of Abu Dhabi Future Energy Company, as saying the money will go into infrastructure, renewable energy projects such as solar power, and manufacturing, to position Abu Dhabi as a leader in the global clean energy market. The project includes plans to start building a zero carbon, zero waste city of up to 15,000 residents in the desert in the first quarter of this year. "Achieving a zero carbon city is doable," Jaber said.