The UK Green Investment Bank plc (GIB) and Masdar, Abu Dhabi’s state-backed renewable energy company, have signed a Memorandum of Understanding (MoU) to explore project investment opportunities in the UK’s clean energy sector.
Under the MoU, the two parties will consider opportunities to jointly invest in green infrastructure projects in the UK over the next seven years. Together, they will introduce potential investment opportunities to one another and other potential investors. There is no change to the governance of both parties as joint investments will be made and managed independently. Masdar has already independently invested over £500 million through its equity stake in the UK’s London Array. This new alliance will unlock the potential for further investment.