|Britain, Abu Dhabi to Sign Clean Energy Accord|
The World Business Council for Sustainable Development
November 3, 2008
Britain and an Abu Dhabi renewable energy company are to sign an agreement to
cooperate on clean energy technologies, British Prime Minister Gordon Brown said
"Today we will sign an MOU (memorandum of understanding) with Masdar to work to
develop and deploy low carbon technology for energy," Brown said during a visit
to the United Arab Emirates. He said the deal will cover wind and solar energy
as well as carbon capture and storage.
During Brown's visit to neigbouring Qatar, the Gulf state agreed on Sunday to
invest 150 million pounds ($243.4 million) in a British low-carbon energy
The investment will be topped up with 10 million pounds by Britain's Carbon
Trust and another 90 million pounds from private investors.
Last month, Abu Dhabi state-run Masdar said it was taking a 20 percent stake in
the 1,000 megawatt London Array offshore wind farm project for an undisclosed
sum. Abu Dhabi is the capital emirate of the UAE, the world's fifth-largest
exporter of oil.
Masdar has been set up by the Abu Dhabi government to develop sustainable and
clean energy. It aims to ensure a leading role in the future energy industry for
the emirate, holder of 90 percent of the UAE's oil reserves.
Britain and the UAE signed an initial agreement in May for cooperation in
peaceful use of nuclear energy.