This deal is believed to be worth up to AED5.7bn ($1.55bn), reports

Through its equity stake in London Array, which is considered to be the world’s largest offshore wind farm, Masdar has invested more than £500m in the UK.

Masdar and GIB will jointly invest in green infrastructure projects over the seven-year period and will present potential opportunities of investment to each other and also to other investors in the segment.

Masdar CEO Dr. Sultan Ahmed Al Jaber said the UAE and the UK have already forged a strong bond in the advancement of clean energy.

The joint investment efforts will strengthen the relations between the countries and also pays sufficient dividends for both countries, Jaber added.

Last month, Financial Times reported that Qatar planned to invest £10bn in energy, waste and transport projects in the country. However, a formal agreement is yet to be signed.

GIB was formed with an initial funding of £3bn in order to speed up UK’s shift to a greener economy.