Strategic partnership agreement covering broad partnership initiatives between the two entities

Masdar, Abu Dhabi‘s multi-faceted renewable energy company and a wholly owned subsidiary of the Mubadala Development Company (Mubadala), and Schneider Electric, the global specialist in energy management, today announced the signing of a strategic partnership agreement covering broad partnership initiatives between the two entities.

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About Masdar:
Masdar is Abu Dhabi’s multi-faceted 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), a wholly owned company of the government of Abu Dhabi through the Mubadala Development Company.

About Masdar City:
Masdar City is the first clean-technology cluster located in a carbon-neutral, zero- waste city powered entirely by renewable energy. This free zone in Abu Dhabi seeks to become a global centre for innovation, research, product development and light manufacturing in the fields of renewable energy and sustainable technologies. Leading multinational companies in the cleantech sector, as well as small- and medium- sized enterprises and entrepreneurial start-ups will locate R&D labs, marketing offices and headquarters in the city. The International Renewable Energy Agency (IRENA) will also base its headquarters in the city.

About Schneider Electric:
As a global specialist in energy management with operations in more than 100 countries, Schneider Electric offers integrated solutions across multiple market segments, including leadership positions in energy and infrastructure, industrial processes, building automation, and data centres/networks, as well as a broad presence in residential applications. Focused on making energy safe, reliable, and efficient, the company’s 114,000 employees achieved sales of more than EUR18.3bn in 2008, through an active commitment to help individuals and organisations “Make the most of their energy”. www.schneider-electric.com

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Source: Middle East Company News
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