Masdar, a wholly owned subsidiary of the Abu Dhabi Government-owned Mubadala Development Company was established in 2006 that aims at economic diversification of the Emirate. Masdar is a commercially driven enterprise that operates to reach the broad boundaries of the renewable energy and sustainable technologies industry – there by giving it the necessary scope to meet these challenges. Masdar City is a emerging global hub for renewable energy and clean technologies that position companies located here at the heart of this global industry.
Masdar nets $615m For world's largest solar power plant
Green energy firm Masdar got $615m of bank financing for the world's largest concentrated solar power (CSP) plant and $153m equity from its Spanish and French partners. Eight foreign banks and two local banks underwrote the 22-year deal with Masdar. $615m Solar power plant which will have a 100 megawatt capacity and would qualify for carbon credits under the United Nation's Clean Development Mechanism (CDM). Masdar has a 60 percent stake in its flagship project, while the European partners hold 20 percent each.
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