The renewable energy market has net-zero ambitions
The renewable energy firm said that the acquisition would allow it to expand its presence in the UK and European renewable energy markets, while also enabling it to support the net-zero objectives of other countries.
Based in London, Arlington Energy has a proven record in developing, building, operating, and financing flexible energy solutions, having taken over 170MW of assets through to operation in the past two years.
Masdar’s acquisition of Arlington Energy will enable the development, construction, operational management, and financing of BESS projects under one Masdar-Arlington platform, the statement added.
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said: “Masdar and Arlington Energy share a long-standing belief that greater investment in energy storage is critical if countries are to expand their renewable energy portfolios and achieve their net-zero ambitions.
“By working together, we will be able to provide a more resilient and flexible energy resource, helping to accelerate the UK and other European countries’ clean energy transitions, and supporting our efforts in expanding our offshore wind and broader renewables portfolio.”
BESS solutions provide flexible energy to the grid, helping to overcome renewables’ intermittency challenges, and allowing energy to be released during peak demand, helping to ensure system security while keeping consumer costs down.
Matthew Clare, Co-Founder and Director of Arlington Energy, added: “Partnering with Masdar allows us to accelerate our BESS rollout in the UK and will make us the leading platform for energy storage. With Arlington’s experience and expertise in the procurement, construction, and operational management of BESS, and Masdar’s global capabilities in renewable energy, combining forces is a natural progression.
“This partnership creates a business with huge potential, immediately capable of delivering at scale domestically, and in other markets in the future, as more nations join the UAE and UK in setting net-zero targets.”
Increased investment in renewable energy
Alongside the Arlington acquisition, Masdar said that it intends to increase its investment in offshore wind and other renewables projects in new and existing markets, including the UK. Masdar is already a leading investor in the UK’s offshore wind sector, with stakes in London Array, one of the world’s largest offshore wind farms; the Dudgeon offshore wind farm off the coast of Norfolk; and Hywind Scotland, the world’s first commercial-scale floating wind farm.
Europe could need as much as 200 gigawatts of storage capacity by 2030, if it is to meet its renewable energy targets, according to a recent industry report. The UK alone may need as much as 50 GW of storage capacity by 2050, to achieve its target of net-zero carbon emissions by 2050, according to the National Grid.
Masdar is one of the fastest-growing renewable energy companies in the world. It aims to reach 100GW total capacity by 2030, with ambitions to double that in following years.
In December 2021, the UAE government announced Abu Dhabi energy champions TAQA, ADNOC, and Mubadala are to join forces as shareholders in Masdar, creating a truly global clean energy powerhouse that will be a major force in renewables and green hydrogen.
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