Masdar, the Abu Dhabi government- owned renewable energy company, cut 9 percent of its workforce after an annual business review.
The venture, a unit of government-run Mubadala Development Co., will maintain its “long-term strategic vision” and “core objectives,” a Masdar official, who declined to be identified in line with company policy, said today in an e-mailed response to questions. The official declined to specify the size of the workforce or the number of jobs cut.
Abu Dhabi, the capital and largest sheikhdom in the United Arab Emirates, wants to generate at least 7 percent of its electricity from renewable sources by 2020. It holds almost all of the country’s oil reserves and is expanding use of solar and wind power in an effort to become a regional hub for renewable energy. Masdar is a prominent part of the strategy.
No comments:
Post a Comment