Abu Dhabi Future Energy Company (Masdar), a subsidiary of Mubadala Investment Company, and French low-carbon electricity leader, EDF, have signed an agreement to establish a 50:50 joint venture energy services company (Esco) to expand into non-utility scale renewables and energy-efficiency investments, such as building energy efficiency, solar technology below 50 megawatts and industrial waste heat recovery, among others, in the UAE, GCC region and other emerging countries.

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