Abu Dhabi goes green for $15bn

[OKIsItJustMe]

http://www.7days.ae/en/2008/01/22/abu-dhabi-goes-green-for-15bn.html

Abu Dhabi goes green for $15bn

Tuesday 22 Jan, 2008

Abu Dhabi will invest $15 billion in the first phase of an initiative to develop green energy, it emerged yesterday. The investment will be made as part of the Masdar initiative 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 capital, without giving a time frame for the investment.

“In a reverse of the usual exchange, which sees emerging economies so often following the patterns of more developed economies such as the US and Europe, here is an area where the status-quo has the potential to be reversed,” Oliver Cornock, Oxford Business Group’s (OBG) regional editor in the GCC, said. “Most environmentally-conscious countries of the world will be looking toward Abu Dhabi’s lead.”

The announcement came as OBG published an interview with former US president Bill Clinton, who said Gulf oil producers should use their windfalls to enter the renewable energy market. “Gulf states could generate a lot of their own energy from wind power, and every building could have solar cells on it,” Clinton said.

UAE greenhouse gas emissions were at 34.1 tonnes per head in 2004, according to a UN Development Programme report issued last year - the third highest in the world after Qatar and Kuwait and well above US per capita emissions of 20.6 tonnes. The alternative energy projects also aim to place the UAE at the forefront of the future energy industry after oil and enhance its reputation at a time of growing concern over climate change.

[Eurobabe]

1. FUCKING DUH!!!! I was in UAE in December

and my husband and I were always remarking: they could generate SO much energy with SOLAR and WIND power. In fact, I sent the GCC an email suggesting this, perhaps they listened to me? :rofl:

[OKIsItJustMe]

2. UAE intends "to become the world's leading funder and researcher of renewable energy"

http://www.guardian.co.uk/environment/2008/jan/21/energy.renewableenergy?gusrc=rss&feed=technology

...

Sheikh Mohamed bin Zayed Al Nahyan, the crown prince of Abu Dhabi, said the small emirate that controls 10% of the world's oil reserves intended to become the world's leading funder and researcher of renewable energy.

"The evidence is now overwhelming that our responsibility must be balanced by a duty to find mew sources of energy and protect the world," said the prince.

In a series of announcements, he said that Abu Dhabi would join the Massachusetts Institute of Technology in the US to set up an alternative energy university and would build the world's largest solar power station.

At 500MW, this could be as large as many nuclear and coal-fired power stations and provide 5-10% of the country's electricity.

...