UK's Department of Energy and Climate Change (DECC) and the United Arab Emirates announced 1 million GBP of joint funding for renewable energy policy research.

The research will support the work of the International Renewable Energy Association (IRENA) to advise nations on putting renewable energy legislation in place.

Additionally, DECC and UAE-based 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. This 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 2 billion GBP.

The Provost of the Masdar Institute, Dr John Perkins, said, "…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."

[source: DECC]