Masdar signs co-operation deal with 1 Malaysia Development

18 January 2010

Companies to study joint clean technology schemes

Abu Dhabi Future Energy Company (Masdar) has signed a co-operation agreement with 1Malaysia Development Berhad (1MDB) to explore clean technology projects and investments.

This includes the possibility of building Malaysia’s first carbon-neutral city. The two companies will also invest in carbon reduction schemes under the Kyoto Protocol’s Clean Development Mechanism.

The deal was signed on during a visit to Abu Dhabi by Malaysian Prime Minister Najib Razak.

A day earlier, Masdar announced that it had launched a concentrated solar power central tower technology research and development project at Masdar City. The research will be carried out in collaboration with the Masdar Institute of Science & Technology, Japan’s Cosmo Oil Company and the Tokyo Institute of Technology.

Masdar is a wholly-owned subsidiary of the Abu Dhabi government, through the Mubadala Development Company.

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