Masdar, Cepsa forge RE alliance
MoU targets new projects in Europe, Americas, Africa, Middle East
Abu Dhabi company Masdar and Spanish energy outfit Cepsa have joined forces to develop renewables projects in markets including Europe, the Americas, Africa and the Middle East.
The partners have signed a memorandum of understanding centered mainly on wind and solar initiatives with the aim of “expanding their international presence”.
The collaboration is designed to mix Cepsa’s technical skills in operations and execution in Africa and the Americas with Masdar’s experience in renewable energy in the Middle East and UK.
It will "help drive the development of projects in strategic countries for both companies”, said the companies.
Cepsa and Masdar plan to explore opportunities in locations where they already operate or can easily access, including Spain, North Africa, Latin America and Europe, they said.
Both companies are linked to the Abu Dhabi investment vehicle Mubadala.
Image: towers being built for UK offshore wind farm, a sector where Masdar is already active (Statoil)