Dubai Launches $3.27B Solar Energy Park

Law360, New York (January 9, 2012, 11:49 AM EST) -- Dubai plans to build a solar energy park worth 12 billion dirhams ($3.27 billion) as part of its 20-year plan to increase its renewable energy sources, the government said Monday.

The new park will run on solar power, and will have 10 megawatts of capacity by 2013 and 1,000 megawatts of capacity by 2030, according to a government statement.

The announcement indicated the oil-rich United Arab Emirates' attempt to meet its Dubai Integrated Energy Strategy 2030 plan, which sets a benchmark of 5 percent of the...
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