Leader in developing sustainable green energy

One of Abu Dhabi’s most impressive feats is that in spite of its vast oil wealth, it has also become a global leader in developing sustainable new green energy. A key project that establishes Abu Dhabi’s role as a trend-setter in new energy development is Masdar, the Abu Dhabi Future Energy Company. It is a wholly owned subsidiary of Mubadala, the government’s investment arm. Khaldoon Al Mubarak, CEO of Mubadala, commented recently, “Masdar is a very exciting initiative, the first of its kind. It is a major commitment that Abu Dhabi is embarking on toward the development of renewable energy as a commercial form of energy for the future.”

Masdar Initiative

The Masdar Initiative has an ambitious goal: to search for solutions to some of mankind’s most pressing issues: energy security, climate change and the development of human expertise in sustainability.

As Masdar’s CEO, Dr. Sultan Ahmed Al Jaber, explains, “The Masdar Initiative is multi-faceted. We are positioning ourselves as global leaders in the push for new low-carbon energy technologies and clean, sustainable ways of living. The Masdar Initiative is a continuation and an evolution of Abu Dhabi’s five decades of leadership as a global energy provider. We developed considerable expertise over that period and we have inherited a strong tradition of environmental custodianship and a commitment to sustainability.”

Masdar City: world’s first carbon-neutral metropolis

The Masdar Initiative is creating Masdar City, the most ambitious sustainable development in the world today. It will be the world’s first zero-carbon, zero-waste city powered entirely by renewable energy sources.

Masdar City is being built over 7 years at a budget of more than USD 20 billion. Its master plan calls for a blend of traditional Arab architecture with cutting-edge technologies to ensure a sustainable, high-quality living environment for all residents. Masdar’s headquarters, the first building in the new development, is obtaining the energy required for its own construction from a vast array of solar panels installed on the roof before the rest of the building was built, a world first.

The city will be car-free and pedestrian-friendly, with an efficient public transport system, landscaping, common areas, leisure areas, access roads, bridges, tunnels and advanced ICT services. It is designed as the ideal base for innovative companies from all over the world. Masdar is currently embarking on a global drive to attract industry partners to participate in this historic endeavor.

Mubadala Green Technology Fund with General Electic

One resident of Masdar City will be General Electric, which will establish a research center there. GE and Mubadala recently launched an ambitious “green” initiative, the Mubadala Green Technology Fund to promote all types of green technologies, including alternative energy sources. Each partner has invested USD 40 billion in the fund, which will have a borrowing power of up to USD 50 billion.

World Future Energy Summit

Another new development that places Abu Dhabi’s commitment to new energies on the global stage is Masdar’s World Future Energy Summit, held in Abu Dhabi for the second year in January 2009. It is the world’s largest conference and exhibition on renewable and future energy solutions, innovations, investments, policy and vision. The 2009 event attracted around 15,000 people, including the world’s leading scientists, venture capitalists and experts in the field of future energy. It covered a wide range of themes, including energy policy, investment and funding, green buildings, clean transport, solar and wind energy, and biofuels.

Zayed Future Energy Prize

At the event, the USD 1.5 million Zayed Future Energy Prize was awarded to Bangladesh developer Grameen Shakti. The prize, announced by H.H. Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, at the first World Energy Summit last year, honors the legacy of environmental stewardship of H.H. Sheikh Zayed bin Sultan Al Nahyan. It is to be awarded each year to individuals, companies, governments, organizations and NGOs that have made significant contributions in the global response to the future of energy and climate change.

Another finalist, Dr. Green, a leading researcher in the field of PV,received USD 350,000; the prize is designed to help innovative projects take their ideas to the next level. The jury for the prize was headed by Dr. R.K. Pachauri, Chairman of the Intergovernmental Panel on Climate Change and winner of the 2007 Nobel Peace Prize.

The Masdar Initiative and Mubadala’s Green Technology Fund are two examples of Abu Dhabi’s strong commitment to positioning itself as a global hub for research and development in the field of new energy technologies. Through such projects, Abu Dhabi is demonstrating its innovative, forward-thinking approach to sustainable development.