Masdar, Abu Dhabi’s renewable energy company, and Siemens have signed the detailed agreements on their long term strategic partnership, which was first announced in October 2010.
“The partnership of Siemens and Masdar has reached a significant milestone of what will be a long term strategic collaboration,” said Wolfgang Dehen, CEO of the Siemens Energy Sector und Member of the Siemens Board. “Not only have we firmly established the framework of our technology cooperation and the move of our regional headquarters to Masdar City. This marks the first time that Siemens establishes the headquarters of one of its global divisions outside Germany; a unique commitment to Abu Dhabi and the Middle East and a convincing demonstration of our vision to act as a global company with tight connections to our customers.”
Siemens’ proposition to research and development with Masdar Institute represents the largest global commitment of its kind with a science and technology organization Siemens has ever embarked upon. The agreement entails a long term R&D program for Smart Grid, Smart Buildings, and Carbon Capture and Storage in form of scholarships and R&D funding, as well as educational programs for the advancement of the knowledge economy in the United Arab Emirates.
“With this long term and strategic partnership with a leading global company, such as Siemens, Masdar will establish the foundations for developing and testing new technologies involving energy efficiency and carbon abatement that have both regional and global benefits”, said Dr. Sultan Al Jaber, Chief Executive Officer of Masdar.
More and more people are living in cities which now account for 75 percent of the energy consumed worldwide and are responsible for 80 percent of greenhouse gas emissions. “We are sure that this groundbreaking clean energy project in Abu Dhabi will also promote sustainable cities globally,” Dehen added.
Masdar is Abu Dhabi’s multi-faceted initiative advancing the development, commercialisation and deployment of renewable and alternative energy technologies and solutions. The company serves as a link between today’s fossil fuel economy and the energy economy of the future – developing the “greenprint” for how we will live and work tomorrow. Backed by the stability and reputation of the Mubadala Development Company, an investment vehicle of the government of Abu Dhabi, Masdar is dedicated to the emirate’s long-term vision for the future of energy. For more information about the Masdar Initiative, please visit: www.masdar.ae