Dubai announces solar park plans

10/01/2012 - Dubai Investment News Posted by Bob Brunskill
Dubai announces solar park plans

Property investors with portfolios in Dubai could be among those interested in the emirate's bold plans to reduce its carbon footprint.Officials have announced plans to develop a multi-billion dirham solar energy park in order to reduce the region's reliance on fossil fuels.The news could mean changes in the way property developers go about building and fitting new properties as the market gains an increasing focus on energy efficiency.Dubai's ambitious plans to build the Mohammed bin Rashid Al Maktoum Solar Park will take around 20 years to complete, but the final result will be a plant capable of producing 1,000MW by 2030.The park was named after Sheik Mohammed as a result of his involvement in the project as vice-president and ruler of Dubai.Saeed Al Tayer, the vice-chairman of the Supreme Council of Energy, is quoted by The National as saying of the project: "We have a plan to diversify the energy [sector] in Dubai and to increase solar power to one per cent by 2020 and five per cent by 2030."