Masdar in Arabic means ‘the source’ is constructed with a area around 6 sq km in the Emirate of Abu Dhabi, close to Abu Dhabi International Airport. The project is of Abu Dhabi Future Energy Company (Subsidiary concern of Mubadala Development Company) backed by Government Abu Dhabi in the strive for energy efficient community. Masdar city is a carbon neutral City which would wholly run on renewable source of energies like solar energy and other renewable source of energy. Masdar is created with aim of making Abu Dhabi the source of Knowledge on renewable energy, development of key technologies related to renewable sources of energy and facility for its testing and implementation.
Masdar City where harmonious environment is created for the advancement, development and commercialization of renewable energy solutions and technologies. Leading players in the energy sector like GE, Bayer Material Science, BASF and Schneider Electric has already marked their presence at Masdar City.
Masdar City also provide the best opportunities in terms of business like setting up of head quarters or regional marketing and sales offices to tap into the lucrative and growing markets for green technology products and services in Middle East, Gulf and Asia. And can also offer goods and services to be used in the development and building of Masdar city.
There are four components in Masdar City they are Masdar power, Masdar Institute of science and technology, Masdar carbon, Masdar venture Capital. The Masdar power a renewable energy power project developer which would be in charge of the power project of Masdar City and also has projects in UK and Seychelles. Masdar Institute of Science a non profit educational institute with the support from MIT (Massachusetts Institute of Technology) aimed on advanced alternative energy resources. Masdar Carbon which is investing in clean development mechanism projects and carbon capture and storage. Masdar venture capital which targets investments in sectors like clean energy, environmental refocuses, energy and Material efficiency and environmental services.
Masdar city is given the special economic zone status under law no. 22 of 2007 by His Highess Sheik Khailfa Bin Zayed Al Nahyan ruler of Abu Dhabi. The Special Economic Zone status helps to offer assortment of benefits to the entrepreneur who wants to set up a business in Masdar city. Some of the advantages which are available are