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FINANCIAL NEWS
Masdar weighs USD200m wind farm
27 Apr 2011
(MENAFN) Masdar’s head of engineering at the power division, Dr Olaf Goebel, said that the company is weighing the development of a wind farm at the borders of Saudi Arabia, which would cost USD200 million, reported The National.
Goebel said that the company is working on expansions as the government of Abu Dhabi set the target of sourcing 7 percent of its power from renewable sources by 2020.
To achieve the government’s goal, Masdar already started two renewable plants in the works, Shams 1 and Nour 1, which generate 100 megawatts of electricity each.
It is worth noting that Masdar is a subsidy of Mubadala Development, the strategic investment company owned by the Abu Dhabi Government.
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