£1M TO FUND RESEARCH INTO RENEWABLE ENERGY POLICY IN THE UK AND UAE
25 January 2010
The Department of Energy and Climate Change (DECC) and the United Arab Emirates have today announced £1m of joint funding for renewable energy policy research.
DECC and the Masdar Institute have agreed to co-fund research which draws on domestic experiences of policy designed to promote renewables deployment.
The research will support the work of the International Renewable Energy Association (IRENA) to advise nations on putting renewable energy legislation in place.
Dr al Jaber described the partnership as creating "the kind of innovative solution the global challenge of climate change needs."
DECC and the Masdar Institute are also launching a partnership made up of government bodies and private sector companies to be directed and hosted by the Masdar Institute.
The partnership will develop, support and guide small businesses as they look to deploy low carbon energy sources on a massive scale. London-based sustainable financiers Earth Capital Partners have estimated a potential investment opportunity for the private sector of up to £2bn.
UK Energy & Climate Change Secretary Ed Miliband said, "These two new collaborative projects are examples of exactly the type of global collaborative effort that we must encourage to tackle climate change problems."
The Provost of the Masdar Institute, Dr John Perkins, said, "We are excited by the potential of our new relationship with DECC and the leading thinkers, researchers and officials working in renewable energy policy in the UK. A key part of our mission is to help translate ideas to the market and working with SMEs from the UK and the UAE to grow and be successful is essential in establishing a thriving renewable energy sector in both our countries. I look forward to seeing the fruits of the partnership at the European Future Energy Forum in London in October."