Qatar to invest £1bn in climate technology, green energy in Britain

Qatar will invest £1bn ($1.3bn) in climate technology in the United Kingdom, with engineering company Rolls-Royce set to benefit from some of the cash to support its energy transition, the British government said on Wednesday.

The announcement was made during a two-day state visit to Britain by Qatar’s HH The Amir Sheikh Tamim bin Hamad Al Thani, who met Prime Minister Keir Starmer on Wednesday.

Britain is seeking deeper ties with Qatar, and Starmer hopes to use the visit to secure ‘tangible benefits’ for the country on security and the economy, his spokesperson said.

The investment is expected to create thousands of jobs and launch climate technology hubs in both countries to accelerate development of climate-friendly technologies, the government said.

This includes investment in technology programmes by Rolls-Royce that improve energy efficiency, support new sustainable fuels and lower carbon emissions, and in startups focusing on energy efficiency, carbon management, and green power.

“Enabling the energy transition through lower carbon technologies is a key part of our strategy,” Rolls-Royce CEO Tufan Erginbilgic said in a statement.

“We’re delighted to welcome Qatar as a strategic partner, who’ll support the growth of these technologies.”

Starmer was elected in July on a promise to lift economic growth, and is looking to potential wealthy investors such as Qatar to help fund his plans for new infrastructure and energy development.

Qatar is already a big investor in Britain through the Qatar Investment Authority, which owns the Canary Wharf business and entertainment district in East London, the Shard skyscraper in central London, and stakes in Barclays and Heathrow Airport among others.

Qatar’s Prime Minister HE Sheikh Mohammed bin Abdulrahman Al Thani termed the new initiative a ‘groundbreaking partnership,’ saying the new collaboration aligns with their long-term strategy to invest in the economies of the future.

“This new partnership further strengthens Qatar’s position as a leading global investor in climate technologies,” he said.