Masdar and E.on create carbon trading venture

EMIC will be based in Abu Dhabi and focus on improving the energy efficiency of oil and gas power generation facilities in the Middle East, Africa and Asia.

"We see a lot of potential for energy efficiency projects in the Middle East," says E.on Climate & Renewables spokesperson Christian Drepper. "This new company will develop the finance for projects that will source credits under the United Nations' Clean Development Mechanism (CDM)," he adds.

EMIC will focus on technologies with large carbon