Abu Dhabi Future Energy Company (Masdar), a wholly-owned subsidiary of the the Mubadala Development Company, has invested $3 billion till date in renewable energy ventures.

In January 2008, Abu Dhabi decided to invest $15 billion in Masdar, the largest single government investment of its kind.

“Another $10 billion by late 2015, early 2016, is our current plan,” Masdar chief executive Sultan al-Jaber told Reuters.

He added that Masdar is closing financing for Shams 1. It expects the 100 MW Shams 1 CSP plant to be on line by late 2011, and the Shams 2 plant in mid-2013.

Masdar, which had established a joint venture in Spain, Torresol Energy, also plans to continue to make strategic investments and establish partnerships in European countries.

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