Masdar City Chosen as World Headquarters for New International Renewable Energy Agency
Abu Dhabi's Masdar City can stick another green feather in its cap. The under-construction "carbon neutral" city in the desert will host the recently-formed International Renewable Energy Agency. The city beat out locations in Germany, Austria and Denmark for the honor, and is the first time an international organization of this scope has chosen the Middle East for its headquarters:UAE to Pay All IRENA's Operating Costs
As part of its commitment, the United Arab Emirates has agreed to grant $136 million over a six year period the IRENA, as well as covering all operations costs for the organization for perpetuity. Additionally, the Abu Dhabi Fund has been set up as an endowment that will give out up to $50 million annually to renewable energy projects in the developing world.
Although not originally members (a slightly strange thing to say as the organization is so new) the Australia, Costa Rica, Japan, the United Kingdom, and the United States all joined IRENA just prior to the vote.
At the same vote which will bring IRENA to Masdar, French diplomat Hélène Pelosse was chosen to be the organization's first director-general.
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