The first solar energy plant at the capital's Masdar City carbon-free development will be opened within the next few days, an official has revealed.
"The Dh185 million plant is the first-of-its-kind in the Middle East and has a capacity of 10 megawatts," Khaled Awad, Director of Property Unit Development at the Abu Dhabi Future Energy Company (Masdar), told Emirates Business.
"The plant will serve residential buildings in Masdar City, which is due to be completed this year. Solar panels will be installed on the majority of residential buildings to generate further supplies of energy. "The plant will be expanded in the future. Masdar is installing thousands of panels in the city to determine their potential to generate solar energy. Sixty per cent of work on Masdar Institute has been completed and it will be inaugurated this year."
Awad, when asked if the global financial crisis was affecting Masdar's plans, said: "We are continuing with our projects, thanks to the government support. The finance required for the Masdar City projects is available. We have received many offers to fund the projects from international banks and financial institutions. The reason is that these banks and institutions realise our projects will be successful."
"The private sector will have the biggest involvement in the implementation of the city's projects – its share might go up to 80 per cent. We have had a lot of applications from foreign firms and investors to start working in the city. A lot of the city's projects will be completed over the next two years. We are constructing the world's first carbon-free city and will complete the project thanks to the total support of the Abu Dhabi government and through cooperation with many countries," Awad said.