September 08, 2008

Masdar to build CSP plant worth up to USD 500 million

It is reported that Abu Dhabi Future Energy Company will invite bids to build, own and operate a 100 MW concentrating solar power plant by early March 2008, costing USD 400 to USD 500 million.

Mr Ziad Tassabehji director innovation & investment unit at Abu Dhabi Future Energy Company said that "The project named Shams, which would be built in the town of Madinat Zayad in the western region of Abu Dhabi, would be the first of many CSP plants to be setup in the UAE, to feed electric power to the national grid." He added that the plant will use parabolic trough technology and is expected to be operational by the end of 2010. Bids would be invited for engineering procurement and construction along with technology and the capital to setup the project.

Mr Tassabehji said that Masdar provides market driven incentives for carbon management, by monetizing greenhouse gas emission reductions in compliance with the clean development mechanism framework of the Kyoto Protocol.

He said that the company is currently developing a portfolio of clean development mechanism projects with major asset owners in the UAE and the Middle East, including Abu Dhabi National Oil Company, Abu Dhabi Water and Electricity Authority and Dubai Aluminum.

In March 2007, Masdar announced a strategic initiative aimed at developing an Abu Dhabi based national CCS network for enhanced oil recovery.