The emirate of Abu Dhabi and Spain have signed a Memorandum of Understanding (MOU) on technical co-operation in the fields of renewable energies, transport, environment and tourism.

The agreement was signed during the official visit of Joan Clos i Matteu, Minister of Industry, Tourism and Trade of Spain.

Khaldoon Khalifa Al Mubarak, chairman of Abu Dhabi's Executive Affairs Authority (EAA), signed the agreement on behalf of the Abu Dhabi Government

The MOU on Technical Co-operation will both promote and strengthen economic cooperation.

As part of the MOU, Spain will commit €5 million to support feasibility studies, technical assistance and work related to projects that promote renewable energies and sustainable resource utilisation with a special focus on solar thermal and photovoltaic projects.

Abu Dhabi’s Masdar initiative will lead, manage and execute activities relating to the agreement.

Masdar is a multi-billion dollar, multi-faceted response to the need for a global focus on the development of advanced energies and sustainability-related technologies.

The MOU will see Spanish engineering companies, consulting firms and research institutions working closely with Masdar and its partners to implement research and demonstration projects in Abu Dhabi.

“Today’s signing represents the continued determination of the Abu Dhabi Government to create a world-class technology driven society as envisioned in the Masdar master plan,” said Khaldoon Khalifa Al Mubarak.

“It also demonstrates the commitment, to establish Abu Dhabi and the UAE as a technology hub of international standing through developing and maintaining relationships with the very highest calibre of global partners”.

Joan Clos i Matteu said: “This agreement is a valuable step to encourage Spanish firms to participate in Masdar’s unique projects and expand economic activities in the Emirate of Abu Dhabi.

“The agreement will promote entrepreneurial partnerships between Spanish and Abu Dhabi companies in key sectors, and deepen the economic ties between Spain and the Emirate of Abu Dhabi.”

Dr Sultan Ahmed Al Jaber, CEO, Abu Dhabi Future Energy Company, which drives the Masdar initiative and is wholly owned by Mubadala Development Company, said:

“Masdar is a global cooperative platform for open engagement in the search to some of mankind’s most pressing issues: energy security, the environment and truly sustainable human development.

“This is another step forward in Masdar’s plan for Abu Dhabi to become a world leader in research and development and an internationally recognised demonstration centre for solar and new advanced energy technologies.

“Our goal is to engage the world’s best minds and organisations to envision a cleaner, more sustainable future for the region and the global community”.

Abu Dhabi’s Executive Affairs Authority (EAA) will manage the fund along with Spain, Ministry of Industry, Tourism and Trade (MITT).  Masdar will lead, manage and execute the initiative.

The Abu Dhabi Future Energy Company (ADFEC) is Abu Dhabi’s vision and investment in the future of energy and environmental sustainability – a private joint stock company established and wholly-owned by Mubadala Development Company.

ADFEC drives the Masdar Initiative, a multi-billion dollar, multi-faceted response to the need for a global focus on the development of advanced energies and sustainability-related technologies.

Masdar is designed to ensure that Abu Dhabi grows its share of the global energy market by fostering the development and commercialization of advanced and innovative technologies in renewable, alternative and sustainable energies for a cleaner, safer environment and future.

Masdar has partnered with the world’s most prominent companies, educational institutions and investment firms to lead and advanc