Abu Dhabi Future Energy Co (Masdar) and Spanish oil and gas company Cepsa have agreed to collaborate on expanding their renewable energy businesses internationally, they said on Thursday.
* The companies signed a memorandum of understanding in Abu Dhabi with the aim of collaborating on renewable energy projects, especially wind and solar.
* "Masdar's role as a global renewable energy leader, coupled with Cepsa's expertise and international presence in the oil and gas industry, creates an ideal synergy to further accelerate the deployment of renewable energy in international markets," said Bader Al Lamki, executive director for clean energy at Masdar.
* Cepsa is seeking to gain access to the growing renewable eenrgy market and mitigate the price volatility of its main market, crude oil, it said in a statement.
* Masdar has around 3 gigawatts of renewable energy capacity either in operation or under development in the UAE, Egypt, Morocco, Jordan, Mauritania, Britain, Serbia, Germany and Spain.
(Reporting by Nina Chestney; editing by Alexander Smith) ((nina.chestney@thomsonreuters.com; +44)(0)(207 542 8071; Reuters Messaging: nina.chestney.thomsonreuters.com@reuters.net))
* The companies signed a memorandum of understanding in Abu Dhabi with the aim of collaborating on renewable energy projects, especially wind and solar.
* "Masdar's role as a global renewable energy leader, coupled with Cepsa's expertise and international presence in the oil and gas industry, creates an ideal synergy to further accelerate the deployment of renewable energy in international markets," said Bader Al Lamki, executive director for clean energy at Masdar.
* Cepsa is seeking to gain access to the growing renewable eenrgy market and mitigate the price volatility of its main market, crude oil, it said in a statement.
* Masdar has around 3 gigawatts of renewable energy capacity either in operation or under development in the UAE, Egypt, Morocco, Jordan, Mauritania, Britain, Serbia, Germany and Spain.
(Reporting by Nina Chestney; editing by Alexander Smith) ((nina.chestney@thomsonreuters.com; +44)(0)(207 542 8071; Reuters Messaging: nina.chestney.thomsonreuters.com@reuters.net))
