Abu Dhabi Future Energy Company

The Abu Dhabi Future Energy Company (Masdar), fully owned by the government and Mubadala Development CompanyMubadala Development Company, was established to develop and manage Masdar City. The purpose of the company is to develop sustainable energy projects complemented by carbon management solution services, such as gas emission reduction, clean development mechanisms, project and waste management, science, technology, education and research, manufacturing of photovoltaic films, development of solar and hydrogen power plants and wind farms and investing in companies that develop renewable and sustainable energy technologies.

The AED80.80 billion (USD22 billion) Masdar City was launched in 2006 as the carbon-neutral and zero-waste industrial free zone and community. It covers an area of 6 million sq. m (64.6 million sq. ft.) and when completed in 2016, it will consist of the Masdar Institute of Science and Technology, wind farms, photovoltaic, hydrogen and solar power pants, underground rail roads and public transport routes which cars cannot access, commercial units for the power and industry related businesses and residential units.

The Masdar Institute of Science and Technology was launched in cooperation with the Massachusetts Institute of Technology (MIT). When it begins operations in September 2009, it will offer Masters and PhD programs in science and engineering, with a focus on advanced energy and sustainable technologies

Masdar established its first German subsidiary, Masdar PV, in April 2008. It is a manufacturing company for photovoltaic films, which are used to convert solar energy into electrical power. It is developing its first plant in Germany and the second is the High Tech Manufacturing Cluster plant in Abu Dhabi.

Masdar is also operating in private equity through its AED918.5 million (USD250 million) Masdar Clean Technology Fund, established in November 2006, in cooperation with Credit Suisse, Consensus Business Group and Siemens. The purpose of the fund is to invest in alternative, renewable and sustainable energy technologies. The company also expanded its investments in different countries such as Finland, when it invested in September 2008, an amount of AED650.7 million (USD177 million) in WinWinD, a wind turbine manufacturing company, in addition to investments in Spain and other countries.