EIB, Masdar ink RE collaboration pact

Masdar's Shams 1 CSP plant in the UAE

Masdar's Shams 1 CSP plant in the UAE

Masdar has signed a framework agreement with the European Investment Bank (EIB) to “accelerate” the roll-out of renewable energy across the Middle East and North Africa.

The arrangement, whose exact nature remains vague, will see Abu Dhabi-based Masdar working alongside the EIB to “identify investment opportunities to develop and finance renewable energy projects”.

The two clean-energy powerhouses will work together in the realms of “project identification, evaluation and development”, in addition to training up locals in critical renewables-related skills.

Recent reports suggesting that key Western lenders – including the EIB, the World Bank and Germany’s KfW – will be unwilling to finance mega-solar projects in politically sensitive areas in North Africa serve to underscore the central role Arab Gulf states may have to Log in to read complete article.

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