Abu Dhabi Future Energy Company is using the emirate’s excess petrodollars and its low-cost manufacturing environment in a bid to become the world’s leader in renewable energy, initially exploiting the United Arab Emirates’ plentiful sunshine for solar power.

The company, also known as Masdar, plans to fund research and development of a variety of alternative energy technologies, foster the businesses that create them, and use the emirate’s financial clout to make these expensive ideas economical. “We have a unique ability to invest at all stages of the development timeline,” says Steven Geiger, Masdar’s director of special projects.