Solar power plant for Abu Dhabi
Posted: 18 February 2007
Abu Dhabi is set to build a $350-million solar power plant.
"The 500 megawatt plant is part of Abu Dhabi's drive to cut dependence on hydrocarbon power generation," said Sultan al-Jaber, chief executive of state-owned Abu Dhabi Future Energy Co.
Future Energy, a subsidiary of government-owned Mubadala Development Co, and the Abu Dhabi Water & Electricity Authority will fund the plant with other investors.
The plant is expected to begin operations in 2009,
Abu Dhabi holds more than 90 per cent of the oil reserves of the United Arab Emirates, but does not want to be totally dependant on hydrocarbon power
"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," Jaber said.
"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.
"We have an economic development programme dedicated to establishing an entirely new economic sector focused on alternative energy and sustainable technologies."