| 02/06/08 - On February 9, 2008 at 6:30 p.m. in Abu Dhabi, United Arab Emirates, the Masdar Initiative will break ground on Masdar City, the world's first zero-carbon, zero-waste, car-free city, powered entirely by renewable energy. Leading architects and engineers have come together from around the world to design Masdar City, which will save more than $2 billion of oil over 25 years and serve as a benchmark for the next generation of green design. During his keynote address, Masdar's CEO Dr. Sultan Al Jaber will announce previously unreleased details on the construction and financing of Masdar City. The event will be culminated by the laying of a "cornerstone." The entire groundbreaking will be offset by solar power reserves produced by Masdar's photovoltaic testing facilities. This groundbreaking is the first physical step towards creating the home of the Masdar Initiative. The first phase of the city's seven-phase plan is the development of The Masdar Institute of Science and Technology -- the world's only graduate school dedicated to renewable energy -- developed in collaboration with MIT and scheduled to open in 2009.
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