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Torresol Energy, a joint venture between Masdar, a wholly-owned subsidiary of the Mubadala Development Company, and SENER, a leading international multidiscipline engineering company, with offices in Abu Dhabi, has secured US$760 million project finance loans for the construction of its twin Concentrated Solar Power (CSP) plants - Valle 1 and Valle 2 - in Andalucía, Spain. The total investment value for the two plants is US$1bn.

torresol masdar sener csp Concentrating solar power

The future of urban transportation, a driverless taxi that will get you where you're going without any unpleasant human interaction or labor disputes. This is the PRT (Personal Rapid Transit) podcar from Zagato, a fully electric and fully automated taxi system set to shuttle people around Masdar City, that pledges to have no carbon footprint and no real roads, leaving these to buzz along underground at a leisurely 15 mph.

masdar zagato podcar taxi driverless taxi

Spend a few days prowling the packed exhibition floor of Abu Dhabi's World Future Energy Summit, and you might forget that the global economy is suffering through an existential crisis that has overshadowed just about everything else — including climate change. Booths showing off the technology of Chinese solar companies and German wind businesses buzz with visitors. Conference panels on biofuels or green design are half-empty, but that's only because attendees are busier cutting deals.

financial crisis masdar world future energy summit