A 500 MW solar power plant will be developed in Abu Dhabi and is expected to begin operations in 2009.
The US $350 million plant is the first of its kind in the world’s biggest oil exporting region, an investor in the project has said.
Sultan al-Jaber, chief executive of state-owned Abu Dhabi Future Energy Company described the development as part of Abu Dhabi’s drive to cut dependence on hydrocarbon power generation.
Future Energy, a subsidiary of government-owned Mubadala Development Company, and the Abu Dhabi Water & Electricity Authority will fund the plant with other investors.
“The emirate eventually hopes to provide solar power to 10 000 homes and is setting up a special economic zone for the alternative energy industry,” said Jaber.
“We... do not want to be 100% dependent on [hydrocarbon power],” Jaber continued.
“We have an economic development programme dedicated to establishing an entirely new economic sector focused on alternative energy and sustainable technologies.
“The plant will be the first of its kind in the Gulf, home to oil and gas producers who supply a fifth of the world’s energy needs. Abu Dhabi is truly leveraging its financial and human resources effectively into the high-tech, highly-skilled industries of the future.
“Abu Dhabi knows the energy business rather well. It also enjoys competitive advantages allowing it to successfully establish these new industries, while simultaneously diversifying its economy and providing high-quality job opportunities,” he added.For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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