Masdar Institute to get $1.2b funds

The government of Abu Dhabi plans to invest as much as $1.2 billion (Dh4.41 billion) in the Masdar Institute of Science and Technology, the world's first graduate academic institution dedicated to the research of alternative energy, environmental technologies and sustainability, the chief executive officer of Masdar (Abu Dhabi Future Energy Company) said yesterday.

"That's the total budget until the end of 2018 for the Masdar Institute," Dr. Sultan Al Jaber told Gulf News. In a statement, Masdar said lectures at the institute in Abu Dhabi began yesterday for the first batch of 92 graduate students. The students were selected from more than 1,200 applicants from 82 countries.

The students, who represent 22 nations, are part of Masdar Institute's two-year Master's programme, which offers five multidisciplinary specialised areas geared towards the research and development of alternative energy and sustainability. The UAE has 13 per cent of the total students.