Tuesday, 02 January 2024 12:17 GMT

Mubadala Invests €300M To Rezolv Energy, Boosting UAE's Global Renewable Ambitions


(MENAFN- Khaleej Times)

Abu Dhabi's sovereign wealth fund Mubadala Investment Company on Monday announced a €300 million to partner with UK-based sustainable infrastructure investor Actis in Rezolv Energy, a rapidly expanding renewable power platform in Central and Eastern Europe. The investment reinforces Mubadala's strategy to scale global clean‐energy assets and accelerate the transition toward a low‐carbon economy.

Rezolv Energy has emerged as a major developer in the region since its creation by Actis in 2022. The platform is helping countries address rising energy‐security concerns and comply with increasingly stringent climate policies. Its growth trajectory has been steep: Rezolv currently has around 750 megawatts (MW) of renewable projects under construction in Romania and Bulgaria, with an additional 1.5 gigawatts (GW) of solar and wind capacity in advanced development. This includes Dama in Romania, which is set to become Europe's largest solar power generation project.

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Built on more than 15 years of clean‐energy development heritage in Central and Eastern Europe, Rezolv's leadership team previously developed the largest wind farms of their time in Croatia, the Czech Republic, and Romania's largest independent wind project. Mubadala's investment, combined with Actis' ongoing support, is expected to accelerate Rezolv's expansion and strengthen its position as a future market‐leading renewable producer in the region.

Mubadala sees strategic alignment in energy transition

Saed Arar, Head of Infrastructure at Mubadala Real Assets, said the commitment reflects Mubadala's goals in building scalable real‐asset platforms that drive decarbonisation.“This investment is a clear reflection of our strategy to invest and scale real assets that enable the transition to a low‐carbon economy,” he said. He added that Rezolv offers an ideal platform for accelerating clean‐energy deployment across Central and Eastern Europe.

Rezolv CEO Alastair Hammond echoed this sentiment, noting that Actis' backing had already enabled significant progress, with two major renewable projects under construction and two others about to enter the building phase following recent contract‐for‐difference successes in Romania. He emphasised that Mubadala's involvement would allow the company to be“even more ambitious” in fast‐tracking the region's energy transition.

Part of a wider global investment footprint

The investment adds to Mubadala's expanding portfolio of overseas renewable‐energy holdings. The fund, which manages more than $300 billion in assets, has in recent years taken strategic positions across multiple continents.

In India, Mubadala invested in Tata Power's renewables platform, supporting one of the country's fastest‐growing green‐energy portfolios. In Europe, it has backed Skyborn Renewables, the world's largest private offshore wind developer, strengthening its exposure to global wind‐energy markets. Mubadala has also outlined a long‐term infrastructure strategy prioritizing expansion in the US and Asia, while adopting a more selective investment approach in Europe - making Rezolv Energy's scale and pipeline particularly attractive.

Further reinforcing its European presence, Mubadala recently received EU approval to jointly control Rezolv Energy alongside Actis, underscoring the strategic importance of the platform within the EU's renewable‐energy market. Rezolv is also developing significant new assets, including the St. George solar park in Bulgaria, expected to become one of the country's largest with a capacity of 225 MWp.

Strengthening the UAE's global climate leadership

Mubadala's push into large‐scale renewables supports the UAE's broader ambition to expand its international economic influence, diversify away from hydrocarbons, and shape global climate action. By backing key renewable platforms like Rezolv, the UAE is asserting itself not only as a major investor in sustainable infrastructure but also as an active contributor to energy‐security solutions in emerging markets.

The new partnership with Actis is set to propel Rezolv Energy closer to becoming a regional clean‐energy champion - while reinforcing Mubadala's position as a cornerstone of the UAE's global green‐economy strategy.

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Khaleej Times

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