DUBAI, July 2 The UAE'S Masdar has formed a
partnership with German solar power systems maker Conergy
CGYG.DE that aims to provide up to 40 megawatts of solar power
capacity within two years.
Masdar is an initiative set up by the Abu Dhabi government
to develop sustainable energy and other clean technologies.
The UAE is the world's sixth-largest oil exporter, but like
its Gulf Arab neighbours is looking to diversify its economy.
One of Masdar's objectives is to ensure Abu Dhabi's role in the
future energy industry.
The 40 MW of solar power will be enough to power 10,000
homes in the emirate of Abu Dhabi, Masdar said in a statement.
The partnership aims to make Masdar the top developer and
installer of photovoltaic systems in the region.
"The agreement will allow the new partnership to capture the
huge potential of the Middle East and North Africa," Masdar said
in the statement.
Solar power could help reduce peak power demands on the
electricity grid, Masdar Chief Executive Officer Sultan Al Jaber
UAE power demand peaks in midday in the summer when air
conditioning needs are highest. Power demand in the UAE is
growing rapidly as petrodollars fuel economic expansion.
The Masdar initiative is driven by the Abu Dhabi Future
Energy Company (ADFEC), which is owned by the Mubadala
Development Company. Mubadala is 100 percent owned by the
government of Abu Dhabi.
On Wednesday, ADFEC awarded Canada's SNC Lavalin (SNC.TO) a
contract for a feasibility study on a project to capture carbon
emissions and boost oil output. The project is part of a wider
plan in the United Arab Emirates to reduce emissions of
greenhouse gases, blamed for global warming, by 40 percent.
Abu Dhabi is one of seven emirates in the UAE and the
location of the country's capital.