Abu Dhabi Future Energy Company
| Subsidiary of State-owned enterprise | |
| Industry | renewable energy, clean technology, real estate |
| Founded | 2006 |
| Headquarters | Abu Dhabi, United Arab Emirates |
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Key people
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| Owner | Mubadala Development Company |
| Website | http://www.masdar.ae/ |
Masdar, also known as the Abu Dhabi Future Energy Company, is a renewable energy company based in Abu Dhabi, United Arab Emirates. The company's mission is to invest in renewable energy and clean technology in Abu Dhabi and around the world for both financial and social returns. Masdar is an important part of Abu Dhabi's efforts to diversify its economy beyond oil production. It pursues an "integrated, holistic" business model that merges higher education, research and development, finance, and the development of large-scale renewable energy projects and sustainable communities. Masdar has three business units including Masdar Clean Energy, Masdar City, and Masdar Capital. Masdar's mission is complemented by the Masdar Institute, an independent research university. Masdar is a subsidiary of the Mubadala Development Company and was founded in 2006.
Masdar Clean Energy invests in large clean energy projects such as utility-scale wind and solar, energy efficiency, and carbon capture, storage and use. In the United Arab Emirates, projects developed by Masdar Clean Energy include Shams 1, a concentrated solar power plant with 100 MW of capacity. Partnering with the government of Seychelles, it developed a 6 MW wind farm for Mahé Island. As of May 2013[update], Masdar is building a 100 MW hybrid photovoltaic and natural gas concentrated solar power plant in Al Ain called Noor 1, and a 30 MW wind farm on Sir Bani Yas island.
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