Abu Dhabi could invest £1 billion in UK alternative energy

  • Dr Sultan Ahmed al-Jaber  

    Dr Sultan Ahmed al-Jaber will reportedly sign an MoU with the UK government to support alternative energy projects in the UK. Image credit: Masdar Corporate/Flickr

Abu Dhabi’s state owned renewable energy company, Masdar, is reportedly set to announce that it will invest ‘up to £1 billion’ in alternative energy schemes alongside the UK’s Green Investment Bank (GIB).

The Financial Times is reporting that a memorandum of understanding will be signed at Buckingham Palace by Sultan Ahmed al-Jaber, head of Masdar, on 8 May as part of Sheikh Khalifa bin Zayed al-Nahyan’s state visit to the UK.

The deal has been reportedly masterminded by the energy and climate change minister Greg Barker and will be seen as a significant boon to the GIB which has come under heavy criticism from the clean tech sector due to its lack of borrowing powers.  

The GIB has been hailed by the Coalition government as an innovative solution that will attract the serious green investment required in order to kick-start low-carbon projects across the UK.

Newsletter

We won't share your details - promise!

Preview Latest

Solar Business Focus UK »

The must-have UK solar installer magazine.
Subscribe today!

Only £60 for five editions sticker
Solar Business Focus UK Magazine Cover

Latest Poll

To what extend do you agree with the following statement? ‘Current installer standards agencies are supporting the progression of the UK solar PV industry’

Latest MCS Products »

  • Ground Source Heat Pump
    OCHSNER Warmepumpen

    GMSW 7 plus, GMSW 10 plus, GMSW 10 plus S, GMSW 15 plus and GMSW 17 plus ground source units

    Certificate: BBA 0037/1
  • Ground Source Heat Pump
    OCHSNER Warmepumpen

    GMSW 7 plus, GMSW 10 plus, GMSW 10 plus S, GMSW 15 plus and GMSW 17 plus ground source units

    Certificate: BBA0037/2
  • Solar Photovoltaic
    Solaria Energia Y Medio Ambiente S.A.

    S5M150W to S5M185W with increment of five S6P195W to S6P240W with increment of five S6M195W to S6M245W with increment of five S6M2G195W to S6M2G245W in increments of five

    Certificate: BBA0040