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David Cameron Pushes Middle Eastern Investment In Nuclear Energy, Renewables And Oil

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David Cameron will push for massive new Middle Eastern investment in Britain's energy production on Tuesday - including cash for windfarms, nuclear energy and North Sea oil.

The Prime Minister will meet the heads of three of the biggest sovereign wealth funds in the United Arab Emirates as he bids to persuade them to make further major investment in the energy industry.

It is the premier's latest attempt to secure a share of some of the £440 billion-plus cash surplus held by the oil-rich state to boost Britain's ailing economy.

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Cameron is on a trade and diplomacy mission in the Gulf states.

On Monday he was criticised for acting like "a travelling salesman for the arms industry" as he pushed for investment in military fighter jets.

Cameron has been open about his desire to sell arms to the Saudis, the UAE and Oman.

SEE ALSO: David Cameron Under Fire For Gulf Arms Deals

A week after the coalition was hit by a public split over whether to continue building turbines in the countryside, Mr Cameron will put the focus firmly on harnessing wind energy.

Among those involved in a breakfast meeting to discuss potential future deals is Masdar, which contributed almost £500 million to the giant 175-turbine £1.7 billion London Array wind farm off the coast of Essex and Kent which came on stream last month and is due to power 47,000 UK homes.

He will also discuss with the Abu Dhabi National Energy Company (TAQA) a tax break announced by Chancellor George Osborne to encourage firms to seek to exploit older and deeper oil fields using new techniques.

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David Cameron takes the Dubai Metro to the World Trade Centre with Sheikh Ahmed bin Saeed al Maktoum on Monday

And the talks will include the Emirates Nuclear Energy Corporation, (ENEC) which is considering investment in plans for a new generation of nuclear plants boosted by Hitachi taking on the £700 million Horizon deal last week.

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Prime Minister David Cameron arrives at the World Trade Centre in Dubai

Mr Cameron hailed the importance of renewable energy, telling students at a question and answer session in Abu Dhabi that countries needed to provide cleaner electricity to meet rising demand "as you move to electric vehicles from petrol vehicles".

"If we want to meet targets for reducing carbon emissions we have to recognise that we must try to meet all of that demand either from nuclear or renewable sources or, where necessary, gas though we should be looking at carbon capture and storage projects" he said.

"We mustn't see this as only a cost and an obligation; we should see it as an opportunity."

In an interview with The National newspaper in the Emirates he said: "Emirati investment in the UK across a range of sectors - including real estate, banking, sport and infrastructure - is vital to our economy back in Britain. So we will continue to do all we can to make the UK an attractive and accessible investment destination".

Mr Cameron will move on to Saudi Arabia later today where he is due to hold talks with King Abdullah and other senior figures on issues such as Iran, Syria and anti-terrorism work.

But the latest leg of his three-day tour is bound to be dogged again by controversy over his push for trade - including arms deals - with countries which have faced criticism for their human rights records.

Also on The Huffington Post

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