Energy company Reykjavík Geothermal (RG) is leading the search for geothermal energy for Masdar, a planned city in the principality Abu Dhabi in the United Arab Emirates. The project is worth ISK 200 million (USD 1.6 million, EUR 1 million) and will take eight months.
Harnessing geothermal energy in Iceland. Photo by Páll Stefánsson.
Former CEO of Reykjavík Energy (OR), Gudmundur Thóroddsson, is the main driving force behind RG. He and some of his partners in RG were originally planning to work for Reykjavík Energy Invest (REI), the investment branch of OR, Fréttabladid reports.
Thóroddsson said that if the project in Abu Dhabi proves successful, RG will continue its operations there. Masdar is only supposed to use renewable energy resources and the city is meant to make Abu Dhabi a leader in environmental issues.
Eco-friendly companies will be founded in Masdar and cars that run on gasoline will be banned. The idea to search for geothermal energy in Masdar came from President of Iceland Ólafur Ragnar Grímsson.
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