- Masdar buys leading battery energy storage developer to support offshore wind and renewables investment strategy
- Acquisition will enable the development, construction, operational management and financing of renewable energy storage projects under Masdar-Arlington platform
Abu Dhabi, United Arab Emirates; October 25, 2022: Masdar, one of the world’s leading renewable energy companies, today announced it has purchased UK-based battery energy storage system (BESS) developer Arlington Energy. The acquisition will enable Masdar to expand its presence in the UK’s renewables market and further support the nation’s net-zero objectives.
Based in London, Arlington Energy has a proven record in developing, building, operating and financing flexible energy solutions, having taken over 170 megwatts (MW) 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.
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’s clean energy transition, and supporting our efforts in expanding our offshore wind portfolio.”
Matthew Clare, Cofounder and Director of Arlington Energy, said: “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.”
The UK could need as much as 13 GW of storage capacity by 2030, and 50 GW by 2050, to achieve its target of net-zero carbon emissions by 2050, according to the National Grid. 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.
Greater deployment of battery storage could save the UK’s energy system as much as £40 billion by 2050, with subsequent reductions in consumer energy bills, according to government estimates. The UK government has also identified energy storage as a key technology area for investment, with the potential to generate an estimated £12 billion in new business revenues.
In parallel with the Arlington acquisition, Masdar will increase its investment in offshore wind 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.
Masdar is one of the fastest-growing renewable energy companies in the world, aiming to reach 100 GW 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.
