Abu Dhabi-based Masdar has acquired UK’s battery energy storage system (BESS) developer Arlington which will support its expansion in Europe’s renewable energy markets.
In a statement, Masdar said the acquisition will allow the development, construction, operational management and financing of BESS projects under the Masdar-Arlington platform.
“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,” said Masdar CEO Mohamed Jameel Al Ramahi.
“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,” he added.
Aside from this, Masdar also plans to ramp up its investment in offshore wind and other renewable energy projects in new and existing markets, including the UK.
The company noted that Europe could need up to 200 gigawatts of storage capacity by 2030 to meet its renewable energy targets, citing a recent industry report. The National Grid has also stated that the UK would need up to 50GW of storage to meet its 2050 net-zero carbon emissions target.