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.