British officials have welcomed Masdar's tie-up with a major Spanish electricity company to back the world's second-largest offshore wind project, off the coast of England.
East Anglia Three is set to deliver electricity to power 1.3 million homes from late 2026 after a €5.2 billion ($6 billion) co-investment, one of the largest offshore wind transactions in this decade.
Under the agreement, each company will hold a 50 per cent share in the East Anglia Three project.
“Masdar and Iberdrola are continuing to forge one of the largest and most powerful strategic clean energy partnerships to accelerate capacity growth in Europe and worldwide," said Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, and chairman of Masdar. "With demand surging due to exponential AI growth and the rise of emerging markets, projects such as these have never been more critical."
Projects such as these have never been more critical
Dr Sultan Al Jaber,
Masdar chairman
Edward Hobart, British ambassador to the UAE, welcomed the announcement on Friday. "Great to see Masdar’s ongoing commitment to the UK’s energy transition," he said.
A 15-year supply deal with the UK underpins the project. Through annual auctions, the country invites developers of renewable projects to bid for government-backed price guarantees for the electricity produced, called Contracts for Difference (CfDs).
The sixth annual UK auction in 2024 resulted in electricity price contracts for offshore wind of £54.20 to £58.90 ($73.40 to $79.80) per megawatt hour in 2012 prices, government data showed. This was significantly higher than the £44 per MWh offered for offshore wind in last year's auction.
Stockbroker Jefferies estimated the price awarded would be worth between £82.60 and £89.70/MWh in 2027 prices – when the first projects would be expected to go online – when inflation was included.
The financing agreement for the East Anglia Three project was signed for about £3.5 billion, with 24 international banks. Oversubscribed by 40 per cent, the facility is one of the largest of such transactions. It will cover a substantial part of the total costs of the project, without consolidating debt in any of the partners’ financial statements.
Located off the Suffolk coast, East Anglia Three is set to come into initial operation in the fourth quarter of 2026.
As Masdar advances towards its target of 100 gigawatts of global clean energy capacity by 2030, its European footprint continues to expand. Following last year's landmark acquisitions of Saeta Yield in Spain and Terna Energy in Greece, Masdar is expected to contribute up to 30 gigawatts of capacity and support the region’s clean energy goals.
In addition to its partnership with Iberdrola, Masdar has invested in wind and solar projects across key European markets.
Masdar and Iberdrola have also announced completion of the Baltic Eagle offshore wind farm in the German Baltic Sea. The first project of the strategic partnership is a 476MW wind farm to boost Germany’s clean energy ambitions. It will supply about 475,000 households with renewable energy.
High-level forum
Masdar convened a leadership business forum in Madrid this week to strengthen partnerships and position the company for its next phase of growth in the Iberian market.
Led by Dr Al Jaber, the forum assembled senior representatives from Spanish and Portuguese government organisations, regulatory bodies, utilities, institutional investors and technology providers. The discussions centred on accelerating the Iberian Peninsula’s energy transformation and reinforcing Spain’s role as a strategic hub within Masdar’s European portfolio.
Masdar’s European investments are highly diversified. In addition to a $1.4 billion acquisition of Saeta, Masdar concluded a €3.2 billion acquisition of Terna Energy in Greece and entered a €1.7 billion strategic partnership with Endesa in Spain, acquiring a 49.99 per cent stake in a 2.5-gigawatt portfolio of renewable assets – one of Spain’s largest clean-energy transactions.
Since its was established in 2006, Masdar has developed and partnered in projects in more than 40 countries, with a mandate to increase its renewable energy portfolio capacity to 100 gigawatts by 2030.
Brolliology: A History of the Umbrella in Life and Literature
By Marion Rankine
Melville House
A new relationship with the old country
Treaty of Friendship between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates
The United kingdom of Great Britain and Northern Ireland and the United Arab Emirates; Considering that the United Arab Emirates has assumed full responsibility as a sovereign and independent State; Determined that the long-standing and traditional relations of close friendship and cooperation between their peoples shall continue; Desiring to give expression to this intention in the form of a Treaty Friendship; Have agreed as follows:
ARTICLE 1 The relations between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates shall be governed by a spirit of close friendship. In recognition of this, the Contracting Parties, conscious of their common interest in the peace and stability of the region, shall: (a) consult together on matters of mutual concern in time of need; (b) settle all their disputes by peaceful means in conformity with the provisions of the Charter of the United Nations.
ARTICLE 2 The Contracting Parties shall encourage education, scientific and cultural cooperation between the two States in accordance with arrangements to be agreed. Such arrangements shall cover among other things: (a) the promotion of mutual understanding of their respective cultures, civilisations and languages, the promotion of contacts among professional bodies, universities and cultural institutions; (c) the encouragement of technical, scientific and cultural exchanges.
ARTICLE 3 The Contracting Parties shall maintain the close relationship already existing between them in the field of trade and commerce. Representatives of the Contracting Parties shall meet from time to time to consider means by which such relations can be further developed and strengthened, including the possibility of concluding treaties or agreements on matters of mutual concern.
ARTICLE 4 This Treaty shall enter into force on today’s date and shall remain in force for a period of ten years. Unless twelve months before the expiry of the said period of ten years either Contracting Party shall have given notice to the other of its intention to terminate the Treaty, this Treaty shall remain in force thereafter until the expiry of twelve months from the date on which notice of such intention is given.
IN WITNESS WHEREOF the undersigned have signed this Treaty.
DONE in duplicate at Dubai the second day of December 1971AD, corresponding to the fifteenth day of Shawwal 1391H, in the English and Arabic languages, both texts being equally authoritative.
Signed
Geoffrey Arthur Sheikh Zayed
RESULT
Aston Villa 1
Samatta (41')
Manchester City 2
Aguero (20')
Rodri (30')
Indoor cricket in a nutshell
Indoor Cricket World Cup – Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
The 12 Syrian entities delisted by UK
Ministry of Interior
Ministry of Defence
General Intelligence Directorate
Air Force Intelligence Agency
Political Security Directorate
Syrian National Security Bureau
Military Intelligence Directorate
Army Supply Bureau
General Organisation of Radio and TV
Al Watan newspaper
Cham Press TV
Sama TV
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
Match info
Bournemouth 1 (King 45 1')
Arsenal 2 (Lerma 30' og, Aubameyang 67')
Man of the Match: Sead Kolasinac (Arsenal)
COMPANY PROFILE
Name: Almnssa
Started: August 2020
Founder: Areej Selmi
Based: Gaza
Sectors: Internet, e-commerce
Investments: Grants/private funding
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
What sanctions would be reimposed?
Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:
- An arms embargo
- A ban on uranium enrichment and reprocessing
- A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
- A targeted global asset freeze and travel ban on Iranian individuals and entities
- Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
Killing of Qassem Suleimani
Essentials
The flights
Emirates and Etihad fly direct from the UAE to Geneva from Dh2,845 return, including taxes. The flight takes 6 hours.
The package
Clinique La Prairie offers a variety of programmes. A six-night Master Detox costs from 14,900 Swiss francs (Dh57,655), including all food, accommodation and a set schedule of medical consultations and spa treatments.
Planes grounded by coronavirus
British Airways: Cancels all direct flights to and from mainland China
Hong Kong-based Cathay Pacific: Cutting capacity to/from mainland China by 50 per cent from Jan. 30
Chicago-based United Airlines: Reducing flights to Beijing, Shanghai, and Hong Kong
Ai Seoul: Suspended all flights to China
Finnair: Suspending flights to Nanjing and Beijing Daxing until the end of March
Indonesia's Lion Air: Suspending all flights to China from February
South Korea's Asiana Airlines, Jeju Air and Jin Air: Suspend all flights
THE SPECS
Engine: 6.75-litre twin-turbocharged V12 petrol engine
Power: 420kW
Torque: 780Nm
Transmission: 8-speed automatic
Price: From Dh1,350,000
On sale: Available for preorder now
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Zayed Sustainability Prize
