Built to inform

Sign up for the daily newsletters

No, Thank you

Masdar CEO: Brexit unlikely to affect UK ventures

Masdar holds significant investments in the UK and Europe, which is unlikely to be impacted by the current Brexit

Masdar is the co-owner of the 630MW London Array wind project.
Masdar is the co-owner of the 630MW London Array wind project.

The recent decision by Britain to leave the European Union (EU) will not have any implications on Masdar's UK investments, said its chief executive officer (CEO).

Mohamed Jameel Al Ramahi, who was appointed CEO of Masdar in February 2016, said that the company will continue to invest in the UK in the foreseeable future.

In the UK, Abu Dhabi’s renewable energy company Masdar is a co-owner of the 630MW London Array, the world’s largest offshore wind development, currently in operation, inaugurated in July 2013.

Masdar has also partnered with Norway’s Statoil and Statkraft in a 402 MW offshore wind farm project, off the Norfolk coast in Eastern England. Masdar acquired a 35% stake in the project from Statoil.

He said: "We are monitoring the Brexit very closely. The decision will have no real impact on our significant UK investments, it will give us a natural edge." 

The company also has a portion of its investments in the renewable sector in Europe.

Ramahi said: "We have operational assets in Europe, and also several projects in the pipeline there. The whole market, including us, is studying the situation very closely.

"Further decisions will be made depending on the prevailing market situations."


Most popular


Dubai's JW Marriott Marquis Hotel to host CW Awards 2019
15th edition of the CW Awards will be held at the five-star Dubai hotel to


Leaders UAE 2019: ALEC, CSCEC ME, Arada bosses on diversification
EXCLUSIVE: Kez Taylor, Sachin Kerur, Elie Mrad, and Grigoris Christofides share insights at Leaders UAE
Leaders UAE 2019: Dispute law updates can drive investments
EXCLUSIVE: Panel featuring HFW, Addleshaw Goddard, HKA, Al Tamimi & Co, and Pinsent Masons discusses

Latest Issue

Construction Week - Issue 749
Sep 15, 2019