UAE’s Masdar to invest $1.2 bln in British battery storage tech

The United Arab Emirates’ state-owned renewables developer Masdar will invest 1 billion pounds ($1.20 billion) in British battery storage technology, its chief executive said on Wednesday.

“We are committed to deploy a billion pounds across the United Kingdom to accelerate the battery storage solutions,” Jameel Al Ramahi told the International Energy Week conference.Masdar bought UK-based battery company Arlington Energy last year.

Masdar is owned by the Abu Dhabi National Oil Company (ADNOC), Mubadala Investment Company, and Abu Dhabi National Energy Company PJSC (TAQA).

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