Masdar agrees research and investment pact with Scotland

The boss of Abu Dhabi’s flagship renewable energy city Masdar has agreed a deal with the Scottish government for a research and investment alliance that could be worth billions of dollars ” the first time Masdar has signed such a deal with another country.

Masdar chief executive Sultan Ahmed Al Jaber has asked Scotland to fast-track a renewable energy action plan for the two countries.

Scotland’s First Minister Alex Salmond said he expected the deal to be officially signed early next year and said it could be worth “billions”.

He added: “Dr Al Jaber insisted that he doesn’t want just a memorandum of agreement, he wants a framework for action. He’s looked at two areas in particular: co-operation over research into renewables technology between universities, and direct investment and partnerships for specific projects.

“This is the first time Masdar will have had an agreement with a government agency ” a country. Masdar’s previous agreements have been with individual companies, so this is quite a breakthrough for us both.”

Al Jaber said: “Scotland is a leading player in the renewable energy field and we are delighted to combine our knowledge and experience through this mutual and beneficial partnership.”

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