Mubadala Divests Stake In UK's Calisen, Marking Strategic Shift In Energy Investments

Abu Dhabi's Mubadala Investment Company has finalized the sale of its indirect stake in Calisen, a leading UK provider of smart meters and small-scale energy transition infrastructure assets. This transaction concludes a four-year investment period during which Mubadala, in collaboration with Global Infrastructure Partners , a division of BlackRock, and Goldman Sachs Alternatives, significantly enhanced Calisen's financial and operational performance.

Calisen, headquartered in Manchester, has been instrumental in the UK's energy transition, managing approximately 12 million smart meters-nearly half of the nation's total installations. Beyond smart metering, the company has diversified into electric vehicle charging infrastructure, solar and battery solutions, and the electrification of heating systems. These expansions align with global efforts to promote sustainable energy practices.

In December 2024, a consortium comprising EQT Active Core Infrastructure fund and Singapore's sovereign wealth fund GIC agreed to acquire a majority stake in Calisen from its existing investors, including Mubadala, BlackRock's Global Infrastructure Partners, and Goldman Sachs Alternatives. This deal valued Calisen at approximately £4 billion, reflecting the company's pivotal role in the UK's energy infrastructure.

EQT and GIC have expressed intentions to support Calisen's ongoing initiatives, particularly the continued rollout of energy transition-related assets such as smart meters, heat pumps, and renewable energy systems. They also plan to explore opportunities in adjacent sectors, including smart water metering, to further enhance the company's service offerings.

Calisen's strategic acquisitions have bolstered its position in the energy sector. Notably, the company acquired Ecofit Renewables Limited and Source Eco Limited, both specializing in heat pump installations, thereby expanding its capabilities in sustainable heating solutions. Additionally, the integration of Environmental Energies Limited has enabled Calisen to offer comprehensive solar and battery solutions, complementing its existing services in smart metering and EV charging infrastructure.

Mubadala's divestment aligns with its broader strategy to optimize its investment portfolio and capitalize on opportunities in emerging sectors. The successful exit from Calisen underscores Mubadala's ability to identify and nurture investments that contribute to global sustainability goals while delivering robust financial returns.

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