Green City Project Masdar’s Fate May Hinge on Dubai Debt

Dubai’s debt woes could have an impact on a key experiment in the renewable energy sector.

In late November, Dubai indicated that its state-controlled investment firm Dubai World needed to restructure $26 billion in debt, sending a shock through global markets.

Dubai is part of the United Arab Emirates, a federation of seven city-states ruled by hereditary clans. It is largely bankrolled by neighboring Abu Dhabi, which uses Dubai as the UAE business center. (more…)