Oil-Rich Masdar Buys Big into Another Offshore Wind Farm Project in the UK

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Demonstrating that renewable energy is on the rise the world over, a company from the oil-rich United Arab Emirates recently bought a stake in a $2.5 billion offshore wind farm project in the United Kingdom. Abu Dhabi-based Masdar bought a 35 percent stake in the 402 Megawatt Dudgeon wind farm project located off the coast of Norfolk in Eastern England, worth a total of more than $850 million – along with Norway’s Statoil and Statkraft, which own 35 and 30 percent respectively.

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