Masdar to invest $1.2 bln in UK’s battery sector
ABU DHABI, March 2, 2023 – Masdar has earmarked USD 1.2 billion for investment in the UK’s battery storage sector, the Emirati renewable energy giant announced on Wednesday.
The news was delivered by Jameel Al Ramahi, CEO of Masdar, to the International Energy Week conference.
The move follows Masdar’s acquisition of battery energy storage system developer Arlington Energy in October 2022.
The global renewables developer aims to have 100 GW of renewables capacity in its international assets by 2030.
Masdar is owned by ADNOC, Mubadala Investment Company and Abu Dhabi National Energy Company, which each acquired shares in the entity in December 2022.