Do More With Reuters
Partner Services

Green energy agency to locate headquarters in UAE

Mon Jun 29, 2009 8:15pm IST
 
Email | Print | | Single Page
[-] Text [+]

CAIRO, June 29 (Reuters) - Member states of the International Renewable Energy Agency (IRENA) voted to locate their headquarters in the United Arab Emirates, Egypt's state news agency MENA said on Monday.

MENA said the UAE, which defeated Austria and Germany, had seven ministers to lobby for the move at the conference in the Egyptian resort of Sharm El-Sheikh. The meeting was attended by 129 states. It gave no further details.

IRENA, which was founded in January, has 114 members and aims to promote a rapid transition towards the widespread adoption of renewable energy, according to its website.

The UAE said last week it was ready to spend $136 million by 2015 to fund IRENA if its bid to host the headquarters succeeded.

The world's third-largest oil exporter had said it wanted to place itself at the forefront of developments that may shape the future energy industry, and hosting IRENA was part of that plan.

The UAE said it plans to house IRENA in Masdar City, a project underway to build a carbon-neutral town in the desert, and said the IRENA headquarters would be ready by 2011. (Writing by Aziz El-Kaissouni, Editing by Peter Blackburn)

Construction workers work at a site as the sun sets in Chandigarh in this December 2006 file photo. REUTERS/Ajay Verma
Economy seen growing at 7.2 pct in FY10 - govt

The forecast reinforces the possibility that the government may start to unwind its fiscal stimulus in the budget.  Full Article 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives
Greece's Finance Minister Papaconstantinou addresses reporters during a news conference in Athens, January 20, 2010.
Eurozone agreed in principle to aid Greece

Euro zone countries have decided in principle to help debt-stricken Greece, a senior German ruling coalition source said.  Full Article 

FROM THE MARKETS

After the Bell
After the Bell

Reuters Money's Kshitij Anand updates you on the movers and shakers of the Indian stock market.  Blog 

SHOWCASE

"Claw Back" Pay
"Claw Back" Pay

Banks and regulators hope that threats to "claw back" pay if trades later blow up will rein in risk taking on Wall Street.  Full Article 

 
James Saft
Blaming Asperger's

COLUMN - Did Asperger's help cause the financial crisis?  Full Article 

 
Going Global
Going Global

With Volvo, Chinese eye M&A abroad to win at home.  Full Article 

 
Delivery Woes
Delivery Woes

Boeing 787 delivery schedule could slip - experts.  Full Article 

 
Central Banks Cautious
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.   Full Coverage