UAE-based energy company Masdar is planning to closely watch the impact of Brexit on current and planned investments in the UK and Europe, the company’s CEO has revealed.

Speaking at an event to announce the selection of Masdar as one of the lead developers for the 800MW third phase of Dubai’s Sheikh Mohammed bin Rashid Solar Park in Dubai on 27 June, Masdar’s CEO Mohamed Jameel al-Ramahi said that Britain’s decision to leave the European Union will have “no real impact immediately”, but said the company will “be watching the UK closely.”

“It might impact [UK and European investment] decisions in the future, but we will have to assess [at the time].”

Masdar currently has stakes in the London Array and Dudgeon wind farm projects in the UK.