Renewable energy is expected to account for 7% of Abu Dhabi's total power generation capacity by 2020, according to Sultan al-Jaber, the CEO of government-owned green energy company Masdar, who was speaking at the The World Future Energy Summit in Abu Dhabi in January. Jaber said, "It is estimated that Abu Dhabi's 7% renewable energy target will produce a market of $6-8 billion over the next 10 years. . . We are looking beyond the current economic downturn, so all of our projects are proceeding," he said.rnMasdar, which is wholly owned by Abu Dhabi investment conglomerate Mubadala, last year began construction of the world's first zero carbon city at a cost of $20 billion to be powered entirely by renewable energy sources. The company teamed up with Hydrogen Energy, a joint venture between BP and Rio Tinto, to build the world's biggest hydrogen-fueled power plant alongside a carbon capture project that could potentially allow the emirate to add 1-3 billion barrels of crude oil to its oil reserves.
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