Monday, January 28, 2008

Abu Dhabi Plans To Become Cleantech Hub, Commits $15 Billion

Abu Dhabi, one of the seven states of the United Arab Emirates, has announced a massive, $15-billion, green programme which would make the emirate a major hub for cleantech manufacturing, production and research and renewable energy, says a report on
The Abu Dhabi government announced the heavy capital commitment at the three-day conference of the World Future Energy Summit held in the city recently. A large chunk of the $15 billion will go toward projects within the emirate only.
The state has in fact started moving towards cleantech and hi-tech. The Abu Dhabi-based, $250-million, Masdar Clean Tech Fund - made-up of commitments from the Abu Dhabi Future Energy Company, Consensus Business Group, Credit Suisse and Siemens AG - recently co-invested in NanoGram Inc., a solar technology company.

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