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Abu Dhabi To Invest $15B Under Masdar Energy Initiative

Abu Dhabi, the largest U.A.E. emirate and holder of almost all of the country's oil reserves, will spend as much as $15 billion on its Masdar initiative dedicated to alternative and sustainable energy, a top government official said Monday.
Δευ, 21 Ιανουαρίου 2008 - 02:10
Abu Dhabi, the largest U.A.E. emirate and holder of almost all of the country's oil reserves, will spend as much as $15 billion on its Masdar initiative dedicated to alternative and sustainable energy, a top government official said Monday.

"We will be investing $15 billion in the Masdar energy initiative," Abu Dhabi Crown Prince Sheikh Mohammed Bin Zayed Al Nahayan said at the opening of the World Future Energy Summit in Abu Dhabi.

The Masdar initiative was launched in April 2006 to establish Abu Dhabi as a hub for alternative energy resources and sustainable technologies at a time of rising concerns over global warming fueled by increased consumption of hydrocarbons.

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