Since its launch in April 2006, Abu Dhabi Future Energy Company (Masdar), owned by state conglomerate Mubadala Development, has made headlines by investing in projects including the world’s largest wind farm and concentrated solar power plant. Abu Dhabi hosts the International Renewable Energy Agency (IRENA) world headquarters on the back of such projects. Masdar’s CEO, Sultan Ahmad al-Jabir, was appointed to a cabinet position earlier this month (MEES, 15 March).
But Masdar also aimed too high, setting targets it was unlikely to hit including: a $22bn zero-carbon Masdar City; attracting tens of billions of dollars in green investment; the world’s largest Carbon Capture and Storage (CCS) project; and producing 7% of Abu Dhabi’s power from renewable energy by 2020. (CONTINUED - 982 WORDS)