The United Arab Emirates is currently engaged in discussions with the British government with a view to investing up to £1bn in renewable energy in tandem with the country’s state-owned Green Investment Bank.

A memorandum of understanding is expected to be signed on Wednesday at at Buckingham Palace by Sultan Ahmed al-Jaber, head of Masdar, as part of the state visit to the UK by Sheikh Khalifa bin Zayed al-Nahyan, the United Arab Emirates president.
David Cameron and Sheikh Khalifa bin Zayed al-Nahyan the United Arab Emirates president
The deal will enable Masdar, the UAE’s renewable energy company to invest alongside the green bank in future projects and according to the FT is loosely based on the way that private equity firms often have co-investment partners.

The oil-rich capital of the UAE is already an investor in the world’s biggest offshore wind project, the London Array scheme off the Kent coast.

For more power generation business news