Qatar invests in UK renewable energy

By Fiona Harvey
Published: November 3 2008 02:00

Qatar is to set up a £250m fund to invest in low-carbon technology, primarily in the UK, writes Fiona Harvey .
It will invest £250m in the Qatar-UK Clean Technology Investment Fund, with the rest to be sought from other investors. The fund will make venture capital investments in cleanenergy businesses.
The deal between the Qatari Investment Authority and the Carbon Trust, a UK government-funded body, marked a measure of success for Gordon Brown's trip to the Middle East yesterday - part of his bid to attract new investment from oil-rich economies, as finance and credit have dried up in other markets.
Several governments in the Gulf region have begun showing interest in renewable energy in the past few years, amid rising concerns over finite oil reserves and climate change.
Copyright The Financial Times Limited 2008