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."
Notes to editors:
- The fund and the set up of the working group were agreed at the World Future Energy Summit[external Link] in AbuDhabi on Monday 18 January 2010.
- The first ideas from the workshop will be presented at the European Future Energy Forum[external Link] in October 2010.
- The Department of Energy and Climate Change is central to the UK Government’s leadership on climate change. We are pushing hard internationally for ambitious effective and fair action to avert the most dangerous impacts. Through our UK Low Carbon Transition Plan we are giving householders and businesses the incentives and advice they need to cut their emissions, we are enabling the energy sector’s shift to the trinity of renewables, new nuclear and clean coal, and we are stepping up the fight against fuel poverty.