
Mubadala makes first renewable energy investment in Japan
Abu Dhabi, May 20, 2024 – Mubadala Investment Company (Mubadala), the Abu Dhabi sovereign investor, has made a cornerstone investment in PAG’s Asia Pacific renewable energy platform (“PAG REN I”), primarily focused on supplying solar power to corporations across Japan.
PAG REN I will leverage PAG’s multi-decade experience in the Japanese real-estate space as well as the expertise of its in-house renewable energy team, PAG Renewables. The platform aims to operate across developed Asia Pacific economies with a strong focus on Japan, and will support Japan’s ambitious solar plans, with the country targeting to install 108GW of solar capacity by 2030.
Hammad Rahman, Head of Asia Pacific – Traditional Infrastructure at Mubadala, said: “Mubadala is excited to extend our presence in Japan and the wider Asia Pacific Region alongside PAG, with our first investment in the country’s rapidly growing clean energy sector. This investment will help reduce carbon emissions and the reliance on imported fuels in line with Japan’s domestic and international emission reduction targets. In particular, the provision of sustainable energy solutions to the corporate and industrial sectors is a key thematic for our infrastructure strategy, and we are pleased to execute on this theme in a major global economy such as Japan.”
PAG REN I will play a critical role in supporting large corporations across Japan as they transition to clean energy, capitalizing on Japan’s corporate power purchase agreement framework to help businesses purchase electricity directly from renewable energy suppliers on a long-term basis. Japan is home to the second highest number of organizations committed to sourcing 100 per cent clean energy after the US, under the RE100 initiative.
“We are pleased to partner with Mubadala on this major investment in renewable energy infrastructure,” said J-P Toppino, Co-Founder and President of PAG. “Japan has a significant commitment to increasing solar power generation, and we are proud to support the country’s ambitious goals. We look forward to participating in Asia’s energy transition,” said Mr. Toppino.
In addition to accelerating Japan’s decarbonization program, PAG REN I will help achieve the country’s energy security ambitions by shifting the country’s energy supply chain away from imported energy sources and towards domestic sources of energy.
The investment highlights Mubadala’s growing portfolio of renewable and clean energy companies and technologies across Asia, Europe, and North America. In 2022, Mubadala invested in Tata Power’s renewables platform in India to support the company with its target of contributing 30GW, 6 per cent, of India’s total installed renewable energy capacity by 2030. In the same year, Mubadala acquired a stake in Skyborn Renewables, the world’s largest private offshore wind developer
Home >> Business and Economy Section
Abu Dhabi and Japan sign MOU to enhance trade and innovation collaboration
Sayward Capital Corp. Signs Definitive Agreement with Technosteel Construction ( ...
UAE and Bahrain Announce Entry into Force of the Investment Promotion and Protec ...
Abu Dhabi University Hosts Seventh Women in Engineering Forum 2025
ADCMC team holds its first meeting of the year to highlight Abu Dhabi's emergenc ...
UAE Launches First National Food Loss and Waste Baseline Study
Abu Dhabi Early Childhood Authority Recognizes Graduates of Social Work Upskilli ...
DoubleTree by Hilton Sharjah Waterfront Hotel & Residences Partners with GEMS Ed ...
Revolutionary Stem Cell Therapy Shows Remarkable Results in Treating Chronic Low ...
ADNEC Group Announces EDGE as Sector Partner to Drive Advanced Manufacturing at ...
Ministry of Economy signs MoU with Egyptian Competition Authority enhancing coop ...
First cohort of UAE National EGA engineers complete EGA Technical Leadership pro ...
49th UAE Armed Forces Unification Day Statement
ADNOC Distribution Reports Highest First-Quarter Ebitda, With 11% Year-On-Year G ...
du reports its Q1 2025 results with 19.8% net profit increase
Statement from ENOC - Armed Forces Unification Day 2025
Building Apps with Text or Voice: Zoho Creator Empowers MENA Low-Code Developers ...
SHEGLAM launches the Buttery Bliss Blush Stick: The shortcut to glow-up skin
NBA Star Joakim Noah Brings Big-League Inspiration to Repton Abu Dhabi's rising ...
Alpha Dhabi advances growth momentum into Q1 2025 with revenue climbing to AED ...