x Abu Dhabi, UAEFriday 28 July 2017

Masdar to capitalise on cleaner new world

The Abu Dhabi Government's latest big investment in overseas energy will profit from carbon, not hydrocarbons.

The Abu Dhabi Government's latest big investment in overseas energy will profit from carbon, not hydrocarbons, in what officials hope will be a "new breed" of companies that could one day rival Big Oil. Masdar, the Government's clean energy venture, and the German power giant E.ON have agreed to put up US$140 million (Dh513.8m) for an enterprise to capitalise on reducing gas emissions, ending flaring and lifting energy efficiency for companies across South East Asia, central Asia and Africa, said Frederic Boeuf, the general manager.