A solar power plant in the Abu Dhabi desert. Clean energy investment is expected to top $1.4 trillion in 2022. Wam
A solar power plant in the Abu Dhabi desert. Clean energy investment is expected to top $1.4 trillion in 2022. Wam

Masdar acquires Arlington Energy to expand presence in UK



Abu Dhabi clean energy company Masdar has acquired London-based energy storage developer Arlington Energy, as it continues to expand its presence across renewable energy markets in the UK and Europe as countries focus on cutting emissions to limit global warming.

The financial terms of the deal were not disclosed.

“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,” Mohamed Al Ramahi, chief executive of Masdar, said on Tuesday.

London-based Arlington Energy specialises in the development of battery energy storage systems, known as Bess – devices that enable energy from renewables, such as solar and wind, to be stored and then released when power demand rises.

Global investment in battery energy storage reached almost $10 billion in 2021, the International Energy Agency (IEA) said in a report last month.

Battery energy storage investment is expected to hit a record high of $20bn in 2022, based on the existing pipeline of projects and new capacity targets set by governments.

“The rapid scaling up of energy storage systems will be critical to address the hour‐to‐hour variability of wind and solar PV electricity generation on the grid, especially as their share of generation increases rapidly in the net-zero scenario,” the IEA said.

As Europe, the UK and several other parts of the world face an energy crisis caused by the war in Ukraine, clean energy investment is expected to top $1.4 trillion in 2022, according to the Paris-based agency.

It now accounts for almost three quarters of the growth in overall energy investment and has been growing at an average annual rate of 12 per cent since 2020, the IEA added.

Masdar, which intends to increase its investment in offshore wind and other renewables projects, already has a substantial foothold in the UK market.

The company owns stakes in London Array, one of the world’s largest offshore wind farms, and Hywind Scotland, the world’s first commercial-scale floating wind farm.

In 2019, Masdar also invested £35 million ($40m) in the UK’s Charging Infrastructure Investment Fund, a £400m plan that aims to double the country’s number of electric vehicle charging points.

“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,” said Matthew Clare, director of Arlington Energy.

The UAE is investing Dh600 billion ($163.5bn) in clean and renewable energy projects over the next three decades as it aims to achieve net-zero emissions by 2050.

The UK plans to decarbonise its electricity system by 2035 and become a net-zero consumer by 2050.

What went into the film

25 visual effects (VFX) studios

2,150 VFX shots in a film with 2,500 shots

1,000 VFX artists

3,000 technicians

10 Concept artists, 25 3D designers

New sound technology, named 4D SRL

 

Disability on screen

Empire — neuromuscular disease myasthenia gravis; bipolar disorder; post-traumatic stress disorder (PTSD)

Rosewood and Transparent — heart issues

24: Legacy — PTSD;

Superstore and NCIS: New Orleans — wheelchair-bound

Taken and This Is Us — cancer

Trial & Error — cognitive disorder prosopagnosia (facial blindness and dyslexia)

Grey’s Anatomy — prosthetic leg

Scorpion — obsessive compulsive disorder and anxiety

Switched at Birth — deafness

One Mississippi, Wentworth and Transparent — double mastectomy

Dragons — double amputee

A timeline of the Historical Dictionary of the Arabic Language
  • 2018: Formal work begins
  • November 2021: First 17 volumes launched 
  • November 2022: Additional 19 volumes released
  • October 2023: Another 31 volumes released
  • November 2024: All 127 volumes completed
The specs

  Engine: 2-litre or 3-litre 4Motion all-wheel-drive Power: 250Nm (2-litre); 340 (3-litre) Torque: 450Nm Transmission: 8-speed automatic Starting price: From Dh212,000 On sale: Now

Traits of Chinese zodiac animals

Tiger:independent, successful, volatile
Rat:witty, creative, charming
Ox:diligent, perseverent, conservative
Rabbit:gracious, considerate, sensitive
Dragon:prosperous, brave, rash
Snake:calm, thoughtful, stubborn
Horse:faithful, energetic, carefree
Sheep:easy-going, peacemaker, curious
Monkey:family-orientated, clever, playful
Rooster:honest, confident, pompous
Dog:loyal, kind, perfectionist
Boar:loving, tolerant, indulgent   

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COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Austrian Grand Prix race timings

Weekend schedule for Austrian Grand Prix - all timings UAE

Friday

Noon-1.30pm First practice

4-5.30pm Second practice

Saturday

1-2pm Final practice

4pm Qualifying

Sunday

4pm Austrian Grand Prix (71 laps)

Company%20Profile
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Company%20Profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%20%3C%2Fstrong%3ENamara%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJune%202022%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3EMohammed%20Alnamara%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%20%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EMicrofinance%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%20%3C%2Fstrong%3E16%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFamily%20offices%0D%3Cbr%3E%3C%2Fp%3E%0A
The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

Company%20Profile
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Updated: October 25, 2022, 2:39 PM