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FINANCIAL NEWS
UAE’s Masdar to invest USD1.5b in UK’s alternative energy market
01 May 2013
(MENAFN) The UK’s Department of Energy & Climate Change announced that Abu Dhabi’s Masdar will ink a USD1.5 billion deal with the British government’s Green Investment Bank (GIB), reported Arabian Business.
According to British media reports, the deal will cover investments in the European country’s alternative energy market and will include several green infrastructure projects over the coming 7 years.
Masdar already has an investment of USD775 million in UK’s London Array, the world’s largest offshore wind farm.
It is worth noting that the GIB was initially capitalized with a huge injection of USD4.65 billion to act as a vehicle to attract other finance into the UK Low Carbon economy.
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