Tuesday, January 20, 2009

Masdar Signs Agreement with Seychelles Government


Masdar Signs Agreement with Seychelles Government

ADU DHABI, January 20, 2009 — Masdar, Abu Dhabi’s multi-faceted future energy initiative wholly owned by the Mubadala Development Company, and the Seychelles government announced today a collaborative agreement to develop renewable energy in the Seychelles.
Preliminary studies have indicated that wind energy, solar energy and waste-to-energy options will be able to supply the pristine island of Mahé with clean, renewable power.
Under this collaborative agreement, it is expected that feasibility studies and the required environmental impact assessments will be undertaken to determine the positioning of wind turbines in several locations around Mahé Island. An initial target of 18 megawatts of electricity generated from wind power is envisaged, which could initially supply at least 10-15 percent of
Mahé Island’s total energy demand, offsetting the need for expensive imports of traditional diesel and heavy fuel oil.
“This collaboration is a direct result of our leadership’s mandate of diversifying our renewable energy portfolio through strategic international partnerships,” said Sultan Al Jaber, Chief Executive Officer of Masdar. “This wind power project reflects the commitment to sustainability by both the Abu Dhabi and Seychelles governments.”
“Wind power is a viable, clean and renewable energy resource that must be harnessed to reduce our dependence on imported fuel and ensure the preservation of the Seychelles’ stunning natural beauty for future generations,” said James Alix Michel, President of the Republic of Seychelles. “We have been working closely with Masdar for several months to
identify the most effective renewable energy solution for our island nation with the least environmental and visual impact.”
Emission reductions resulting from the project will be monetized under the Clean Development Mechanism (CDM) framework of the Kyoto Protocol as Certified Emission Reduction (CER) credits.

About Masdar
Masdar is Abu Dhabi’s multi-faceted future energy initiative advancing the development, commercialisation and deployment of renewable and alternative energy technologies and solutions. Masdar is driven by the Abu Dhabi Future Energy Company (ADFEC), and is wholly owned by Mubadala Development Company. For more information about the Masdar Initiative, please visit [url][/url].
High-resolution images of Masdar City and the 2009 World Future Energy Summit are available at [url][/url].

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