March 1, 2023

Masdar to invest $1.2b in British battery storage tech

Posted By: ndeeney

Masdar bought UK-based battery company Arlington Energy last year

Jameel Al Ramahi, chief executive of Masdar.

By Reuters

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Published: Wed 1 Mar 2023, 5:42 PM

The UAE’s 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.

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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 (Taqa). — Reuters

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