Abu Dhabi to invest £1bn in UK renewable energy

Greg-Barker-Dr-Sultan-Al-Jaber-Masdar-Abu-Dhabi-DECC-140113-SGB-em (1)

Greg Barker MP, UK Energy and Climate Change Minister, and Dr. Sultan Ahmed Al Jaber, UAE Special Envoy for Energy and Climate Change, and CEO of Masdar

On Wednesday, Abu Dhabi will invest £1bn in the UK alternative energy market, the UK’s Department of Energy & Climate Change has confirmed. Masdar, Abu Dhabi’s state-backed renewable energy company will sign the deal with the UK’s Green Investment Bank (GIB) at an event in Buckingham Palace.

“The creation of the Green Investment Bank is one of the Coalition Government’s key green achievements. Initially capitalised with a huge injection of £3 billion, we always intended this brand-new financial institution to act as a catalyst to attract other finance into the UK Low Carbon economy.”

“This alliance is a big step in that direction, and a huge vote of confidence in the UK clean energy sector,” said Masdar CEO Dr. Sultan Ahmed Al Jaber. (Quote from arabianbusiness.com)

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s