Abu Dhabi plans to spend $15 billion in the first phase of an initiative to develop green energy, The money will go into infrastructure, renewable energy projects such as solar power, and manufacturing, to position Abu Dhabi as a leader in the global clean energy market. The Masdar project includes plans to start building a zero carbon, zero waste city of up to 15,000 residents in the desert in the first quarter of this year. The project's engineering and design would be concluded by the end of 2008. According to a U.N. Development Program report issued last year, UAE greenhouse gas emissions were 34.1 tons per head in 2004, the third highest in the world after Qatar and Kuwait and well above U.S. per capita emissions of 20.6 tons. Abu Dhabi signed an agreement with France this month for cooperation on the development of nuclear energy in the world's fifth-largest oil-exporter. Sheikh Mohammed also announced the establishment of the Zayed Future Energy Prize, with an annual prize pool of $2.2 million, designed to reward achievements in energy innovation.

Masdar's $250 million Clean Technology Fund has already invested in different projects and Jaber said there were plans to launch another fund soon. This city looks like its going to be a car-less one; I wonder how people will be getting around? I mean who wouldn't want to blow some smoke when you're living in a eco-Heaven of sorts? OH! I see!! DUH!

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