Thursday, January 15, 2009
ABU DHABI (Reuters) - Gulf Arab oil exporter Abu Dhabi plans to spend $15 billion in the first phase of an initiative to develop green energy and build the world's largest hydrogen power plant, it said on Monday.
The investment would be part of the Masdar initiative, set up to develop sustainable and clean energy, Abu Dhabi's Crown Prince Sheikh Mohammed bin Zayed al-Nahayan told the World Future Energy Summit in the emirate. He gave no time frame.
"I would like to underscore the government of Abu Dhabi's commitment to the Masdar initiative by announcing an initial investment of $15 billion," he said. "Next month ground will be broken on Masdar city, the world's first carbon-neutral city."
pic: Masdar headquarters
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