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FINANCIAL NEWS
UAE’s Masdar, France to develop sustainable energy projects
16 Jan 2013
(MENAFN) Masdar CEO, Dr Sultan Ahmed Al Jaber, stated that the clean energy company has inked a deal with France for the development of several sustainable energy projects, reported Arabian Business.
Al Jaber said that the deal will allow the Abu Dhabi-based firm to work closely with French companies and institutions on expanding and advancing sustainable energy.
The joint declaration permits facilitating the co-development of new commercially doable technologies exchanging expertise, human capital development and sharing experience with policies and regulations, moreover, it enables mutual research in renewable energy projects and sustainability technologies.
France, which aims to produce 23 percent of its energy from renewable sources by the end of the decade, is the world’s sixth-biggest country in terms of wind energy capacity.
It is worth noting that Masdar and French Total have collaborated to set up Shams 1, a 100-megawatt concentrated solar power project in the Western Region of the capital of the UAE.
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