Masdar City aims to be of the world’s most sustainable urban developments powered by renewal energy. Masdar City is the most visible component of Masdar, Abu Dhabi’s multifaceted future energy company, engaged in the development and commercialisation of innovative technologies in renewable energy and clean technology.
As home to the headquarters of the International Renewable Energy Agency (IRENA), Masdar City is testament to the vision of the Abu Dhabi Government to place the city at the crossroads of global innovation and policymaking in the fields of renewable energy and sustainable technology.
Abu Dhabi and Masdar City were selected for IRENA’s secretariate by a vote of the agency’s than-143 member countries in June 2009, as the perfect base for IRENA. The UAE will support the agency with a grant of US$136 million over a six-year period, while also covering all operational costs in perpetuity. Moreover, the Abu Dhabi Fund for Development created a special endowment of up to US$50 million annually to be used for loans in support of renewable energy projects in the developing world.
At the heart of Masdar City is the Masdar Institute of Science and Technology, developed in cooperation with the Massachusetts Institute of Technology (MIT). By 2011 the institute will offer Msc and PhD programmes in alternative energy and sustainable technologies, eventually hosting 600-800 students and more than 100-150 faculty and staff.
For more information on IRENA and Masdar, please visit http://www.masdar.ae
07 October 2010