UAE company to invest $2 bln in solar energy technology

Sights

The United Arab Emirates based energy company Masdar has announced that it would invest $2 billion in solar energy technology, WAM news agency reported Thursday.

Masdar, which is owned by the Abu Dhabi government, plans to set up two plants for manufacturing solar panels. The first plant would be based in Germany and would become operational in 2009 while the second one would be set up in Abu Dhabi and would become operational in 2010. Earlier this year, the Abu Dhabi government committed $15 billion to explore, develop and commercialise clean energy sources. (The Economic Times)

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.

Support the BBJ

Travel