Gulf News reported that the world's first 24 hour solar energy plant, consisting of reflective mirrors arranged around a central tower, could shine in Abu Dhabi.
Mr Pedro Mugarra MD of Sener said that Torresol Energy, a JV between Masdar and Spanish engineering company Sener, is studying the possibility of building such a plant in the capital.
He added that the project depends on approval and subsidies of the concentrated solar power project from the Abu Dhabi government and funding from the banks. He said that "We have started [undertaking] studies. If, and underscore if, the plant goes on, it will take at least five to 10 years."
Gemasolar, which is based in Spain, is the world's first commercial plant to use the central tower technology that costs about EUR 300 million.
Mr Mugarra said that the cost of the plant here would depend on the size and energy needs of Abu Dhabi. He added that "Every investment you plan has to respond to the business case."
He said that Masdar is pushing for the project in Abu Dhabi, as well as in South Africa and the US, but no conclusions have been reached with the Abu Dhabi government. He added that "A technical study could be done in just two months. The problem is that you have to go to the banks for finance and you have to convince the authorities that they should subsidize."
Gemasolar was officially inaugurated in October 2011 by General Mr Shaikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, and King Mr Juan Carlos I of Spain.