The Strategist

UAE to invest £10B in Britain's energy complex

09/17/2021 - 09:55

The UAE is investing £10 billion in Britain's technology, infrastructure and energy sectors, the British government's international trade department said.

"The UK Investment Authority (OfI) and Abu Dhabi investment firm Mubadala signed an agreement today in Downing Street for a significant expansion of the UAE-UK Sovereign Investment Partnership (SIP) announced in March 2021," the statement said.

"As part of today's agreement, the UAE has committed £10 billion through the UAE-UK SIP, controlled by OfI and Mubadala, one of the world's leading sovereign investors," the UK government said.

It is specified that investment in three sectors will increase over the next five years: technology, infrastructure and the green energy transition. In doing so, SIP will be the central investment platform under the two countries' new partnership, Partnership for the Future, which will enable cooperation in priority areas, including climate change, education, regional stability and food security.