Spanish oil group Cepsa has inked a memorandum of understanding (MoU) with Abu Dhabi renewable energy company Masdar to collaborate on future wind and solar power projects internationally.
Masdar said in a statement that the MoU was “a reflection of the constant search for synergies among businesses of [Masdar parent company] Mubadala Investment.
“The combination of Cepsa’s excellence in operations and execution of industrial projects in places like Algeria and Latin America, coupled with Masdar’s experience in renewable energy in the Middle East, the UK and other markets, will help drive the development of projects in strategic countries for both companies.”
