ABU DHABI, March 20 Abu Dhabi's state investment
fund, Mubadala Development Company, has appointed a
new chief executive at green energy firm Masdar and moved his
predecessor the the chairman role, Mubadala said on Thursday.
Masdar, to which the oil-rich emirate's government has
committed $15 billion, has invested over $1.7 billion in
renewable energy projects around the world, including Britain,
Spain, Afghanistan and Mauritania.
Ahmad Belhoul has been appointed the new chief executive of
Masdar, Mubadala said in a statement. His predecessor Sultan
Ahmed al Jaber has become the firm's chairman.
Belhoul joins Masdar from Dubai's Department of Tourism and
Commerce Marketing, where he worked as CEO of Strategy. Prior to
this role, he was Vice President in the Industry unit of
Al Jaber will continue to serve as United Arab Emirates
minister of state as well as the UAE Special Envoy for Energy
and Climate Change, the statement added.
Last month, Masdar filed a legal complaint against Spain
before the International Centre for Settlement of Investment
Disputes over changes to renewable energy rules that have cut or
eliminated subsidies for the sector and capped profits.
(Reporting By Stanley Carvalho, editing by Olzhas Auyezov)