Masdar, Abu Dhabi’s state-backed renewable energy company, is eyeing further opportunities to invest in the UK’s renewable energy projects.
Following the official opening of the London Array offshore wind farm on July 4, in which Masdar invested a significant amount of money and is 20% stakeholder, the company’s CEO Dr. Sultan Ahmed Al Jaber said that the British Government has created an investment climate that provides for what is needed to advance the sector, Abu Dhabi’s The National writes.
This is not an unexpected announcement, as the company signed a Memorandum of Understanding (MoU) with the UK Green Investment Bank (GIB) to study opportunities to jointly develop renewable energy projects in the UK over the next seven years.
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Offshore WIND Staff, July 8, 2013; Image: Masdar