Masdar and E.On said the deal was the first step in a broad initiative to collaborate on renewable energy projects. "We're looking at all areas of technology, all possibilities and all opportunities," said Rebecca Middleton, an E.On spokeswoman.
"This is an excellent example of the partnership we need between oil-producing and oil-consuming countries to develop new energy sources and technologies, diversifying their economies and reducing our dependence on carbon," the British prime minister Gordon Brown said yesterday at a signing ceremony in London.
Sultan al Jaber, the chief executive of Masdar, said the Abu Dhabi company and E.On hoped to help the UK government "drive the future growth of the renewable energy sector".
Following the transaction, Dong is the London Array's lead partner with a 50 per cent stake, while E.On's holding has been reduced to 30 per cent. The two European companies held equal stakes after Shell walked away from its investment citing cost concerns that raised questions about the development's future. Shell said at the time that it was quitting the British project to pursue wind-power opportunities in the US, where government incentives for investment were more favourable.
The involvement of a new partner backed by a petro-state's resources would help alleviate British environmentalists' fears that, with energy prices falling, the wind project could face serious delays or cancellation. However, it is unclear whether Masdar's deal with E.On may amount to a financial rescue.
Last month, E.On placed a US$1.4bn (Dh5.1bn) order with the German specialist manufacturer Siemens for 500 wind turbines for delivery to projects in Europe and the US. It had previously earmarked ?6bn (Dh29.7bn) for renewable energy investment.
Nonetheless, only 1.2 gigawatts of European offshore wind capacity had been installed by the end of last year, compared with 57 GW of onshore capacity, mainly because the cost of bringing offshore turbines into production is about 50 per cent higher. Despite the big run-up in energy prices earlier this year, many offshore wind projects found themselves in less viable economic territory as construction costs also soared.
With a planned 1 GW of generating capacity - the same as a typical coal-fired or a small nuclear power plant - the London Array ranks as a giant among wind-power ventures. When built, its 341 turbines to be located in south-east England's Thames Estuary would supply about one per cent of the UK's total electricity needs.
In January, the Abu Dhabi Government announced plans to invest $15bn in Masdar. The company last month bought a ?120 million stake in the Finnish wind-power company WinWinD.
tcarlisle@thenational.ae
MATCH INFO
Watford 2 (Sarr 50', Deeney 54' pen)
Manchester United 0
Maestro
Director: Bradley Cooper
Starring: Bradley Cooper, Carey Mulligan, Maya Hawke
Rating: 3/5
MATCH INFO
Chelsea 1 (Hudson-Odoi 90+1')
Manchester City 3 (Gundogan 18', Foden 21', De Bruyne 34')
Man of the match: Ilkay Gundogan (Man City)
The biog
Favourite hobby: I love to sing but I don’t get to sing as much nowadays sadly.
Favourite book: Anything by Sidney Sheldon.
Favourite movie: The Exorcist 2. It is a big thing in our family to sit around together and watch horror movies, I love watching them.
Favourite holiday destination: The favourite place I have been to is Florence, it is a beautiful city. My dream though has always been to visit Cyprus, I really want to go there.
Paris Can Wait
Dir: Eleanor Coppola
Starring: Alec Baldwin, Diane Lane, Arnaud Viard
Two stars
SCHEDULE
Saturday, April 20: 11am to 7pm - Abu Dhabi World Jiu-Jitsu Festival and Para jiu-jitsu.
Sunday, April 21: 11am to 6pm - Abu Dhabi World Youth (female) Jiu-Jitsu Championship.
Monday, April 22: 11am to 6pm - Abu Dhabi World Youth (male) Jiu-Jitsu Championship.
Tuesday, April 23: 11am-6pm Abu Dhabi World Masters Jiu-Jitsu Championship.
Wednesday, April 24: 11am-6pm Abu Dhabi World Professional Jiu-Jitsu Championship.
Thursday, April 25: 11am-5pm Abu Dhabi World Professional Jiu-Jitsu Championship.
Friday, April 26: 3pm to 6pm Finals of the Abu Dhabi World Professional Jiu-Jitsu Championship.
Saturday, April 27: 4pm and 8pm awards ceremony.
COMPANY PROFILE
Company name: Almouneer
Started: 2017
Founders: Dr Noha Khater and Rania Kadry
Based: Egypt
Number of staff: 120
Investment: Bootstrapped, with support from Insead and Egyptian government, seed round of
$3.6 million led by Global Ventures
Results:
5pm: Conditions (PA) Dh80,000 1,400m | Winner: AF Tahoonah, Richard Mullen (jockey), Ernst Oertel (trainer)
5.30pm: Handicap (TB) Dh90,000 1,400m | Winner: Ajwad, Gerald Avranche, Rashed Bouresly
6pm: Maiden (PA) Dh80,000 1,600m | Winner: RB Lam Tara, Fabrice Veron, Eric Lemartinel
6.30pm: Handicap (PA) Dh80,000 1,600m | Winner: Duc De Faust, Szczepan Mazur, Younis Al Kalbani
7pm: Wathba Stallions Cup (PA) Dh70,000 2,200m | Winner: Shareef KB, Fabrice Veron, Ernst Oertel
7.30pm: Handicap (PA) Dh90,000 1,500m | Winner: Bainoona, Pat Cosgrave, Eric Lemartinel
FORSPOKEN
Developer: Luminous Productions
Publisher: Square Enix
Console: PC, PS5
Release date: January
Company of Heroes 3
Developer: Relic Entertainment
Publisher: SEGA
Console: PC, PS5, XSX
Release date: February
Star Wars Jedi: Survivor
Developer: Respawn Entertainment
Publisher: Electronic Arts
Console: PC, PS5, XSX
Release date: March
Suicide Squad: Kill the Justice League
Developer: Rocksteady Studios
Publisher: Warner Bros
Console: PC, PS5, XSX
Release date: May
Final Fantasy XVI
Developer: Square Enix
Publisher: Square Enix
Console: PS5
Release date: June
Street Fighter 6
Developer: Capcom
Publisher: Capcom
Console: PS5, XSX, PC
Release date: June
Diablo IV
Developer: Blizzard Entertainment
Publisher: Blizzard Entertainment
Console: PC, PS5, XSX
Release date: June
Baldur's Gate 3
Developer: Larian Studios
Publisher: Larian Studios
Console: PC
Release date: August
The Legend of Zelda: Tears of The Kingdom
Developer: Nintendo
Publisher: Nintendo
Console: Nintendo Switch
Release date: September
Marvel's Spider-Man 2
Developer: Insomniac Games
Publisher: PlayStation
Console: PS5
Release date: Fall
Assassin's Creed Mirage
Developer: Ubisoft
Publisher: Ubisoft
Console: PC, PS5, XSX, Amazon Luna
Release date: 2023
Starfield
Developer: Bethesda Game Studios
Publisher: Bethesda Softworks
Console: PC, Xbox
Release date: 2023
Rock in a Hard Place: Music and Mayhem in the Middle East
Orlando Crowcroft
Zed Books
COMPANY PROFILE
Name: Haltia.ai
Started: 2023
Co-founders: Arto Bendiken and Talal Thabet
Based: Dubai, UAE
Industry: AI
Number of employees: 41
Funding: About $1.7 million
Investors: Self, family and friends
'Tell the Machine Goodnight' by Katie Williams
Penguin Randomhouse
THE FLASH
Director: Andy Muschietti
Stars: Sasha Calle, Ben Affleck, Ezra Miller
Rating: 3/5
MATCH INFO
World Cup 2022 qualifier
UAE v Indonesia, Thursday, 8pm
Venue: Al Maktoum Stadium, Dubai
Company Profile
Name: HyveGeo
Started: 2023
Founders: Abdulaziz bin Redha, Dr Samsurin Welch, Eva Morales and Dr Harjit Singh
Based: Cambridge and Dubai
Number of employees: 8
Industry: Sustainability & Environment
Funding: $200,000 plus undisclosed grant
Investors: Venture capital and government
EMIRATES'S REVISED A350 DEPLOYMENT SCHEDULE
Edinburgh: November 4 (unchanged)
Bahrain: November 15 (from September 15); second daily service from January 1
Kuwait: November 15 (from September 16)
Mumbai: January 1 (from October 27)
Ahmedabad: January 1 (from October 27)
Colombo: January 2 (from January 1)
Muscat: March 1 (from December 1)
Lyon: March 1 (from December 1)
Bologna: March 1 (from December 1)
Source: Emirates
Profile Idealz
Company: Idealz
Founded: January 2018
Based: Dubai
Sector: E-commerce
Size: (employees): 22
Investors: Co-founders and Venture Partners (9 per cent)
COMPANY PROFILE
Company name: Revibe
Started: 2022
Founders: Hamza Iraqui and Abdessamad Ben Zakour
Based: UAE
Industry: Refurbished electronics
Funds raised so far: $10m
Investors: Flat6Labs, Resonance and various others
Brief scoreline:
Manchester United 2
Rashford 28', Martial 72'
Watford 1
Doucoure 90'