Solar Sector Heats Up By $2 Billion
Posted by Srikant Rajan | # |
08:18:43 am on June 7, 2008

UAE  owned Masdar, has announced a whooping $2 billion investment in advancing solar energy technology.Masdar is targeting a a multi phased expansion strategy for manufacturing of thin film solar photovoltaic(PV) modules.The first phases involves investment of $600 million for development of 2 manufacturing facilities ,first one in Germany followed by one in Abu Dhabi.The German facility is expected to go functional by 2009 followed by Abu Dhabi facility in 2010. Masdar, is targeting an annual output of 210MW from both these manufacturing units and further envisages 1 GW of annual production by 2014.It has also entered in an agreement with Applied Materials for supplying SunFab lines to these manufacturing facilities.

Middle East has been a historic hydrocarbon energy source.However the launch of the launch of such a bold initiative by Abu Dhabi based Masdar in the alternative energy sector, signals the limited supply of hydrocarbon based fuels in the coming years.

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