UAE launches Solar Energy Park in Abu Dhabi

19/01/2012 - Northern Emirates Property & Investment News Posted Bob Brunskill
UAE launches Solar Energy Park in Abu Dhabi

Property investors in the Middle East could be among those encouraged by the recent comments from senior officials regarding Abu Dhabi's energy strategy.At the recent launch of the Mohammad Bin Rashid Solar Energy Park, it was claimed that the project will build on the "solid foundations for sustainable development" that were established by Masdar City, Gulf News reported.His Highness Shaikh Mohammad Bin Rashid Al Maktoum, vice-president and prime minister of the UAE and ruler of Dubai, explained that a strategy is now in place to help the emirate produce its own clean and sustainable energy.It has now been confirmed that the projects will cost Dh12 billion and it is hoped that it will help the UAE meet growing demand for energy."It goes without saying that these new approaches in the area of energy will have a significant economic and environmental impact," the news provider explained.In other news, recently-published figures have shown that banks in the UAE are lending more money.Data from the Central Bank showed that lending by 51 local and foreign firms operating in the UAE increased by 4.2 per cent in the first 11 months of 2011.