By Andy Sambidge
Energy giant signs detailed agreements with Abu Dhabi clean energy company
Energy giant Siemens on Tuesday said it had relocated its regional headquarters to Masdar City, Abu Dhabi as part of agreements with the emirate's clean energy company.
The companies said they have signed the detailed agreements on their long term partnership, which was first announced in October 2010.
"Today the partnership of Siemens and Masdar has reached a significant milestone of what will be a long term strategic collaboration," said Wolfgang Dehen, CEO of the Siemens Energy Sector.
"Not only have we firmly established the framework of our technology cooperation, but also the relocation of our regional headquarters to Masdar City. This marks the first time that Siemens has moved headquarters of a global division...a unique commitment to Abu Dhabi and the Middle East," he added in a statement.
The agreement also includes a long term R&D programme for smart grids, smart buildings, and carbon capture and storage, as well as educational programmes for the advancement of the knowledge economy in the UAE.
Dr Sultan Al Jaber, CEO of Masdar, said: "With this long term and strategic partnership with a leading global company, such as Siemens, Masdar will establish the foundations for developing and testing new technologies involving energy efficiency and carbon abatement that have both regional and global benefits."
Siemens added that it plans to open a centre of excellence for building technologies in Masdar City i the near future.