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EDF forms energy services company venture with Abu Dhabi Future Energy

Electricité de France SA has agreed to form a joint venture energy services company with Abu Dhabi Future Energy Co., or Masdar.

The aim of the joint venture energy services company is to expand into nonutility scale renewables and energy-efficiency investments in the United Arab Emirates, the Gulf Cooperation Council region and other emerging countries, according to a Sept. 11 news release.

"Today's signing is a reflection of Masdar's global clean energy ambitions and further supports the UAE's Energy Strategy 2050 objectives to increase renewable energy usage and energy efficiency across the UAE, the region and internationally," Masdar CEO Mohamed Jameel Al Ramahi said.

For EDF, the joint venture supports a goal to triple its international business by 2030.

Masdar is a subsidiary of Mubadala Investment Co.