Mubadala Investment Company, an Abu Dhabi sovereign investor, has recently made a significant investment in PAG’s Asia Pacific renewable energy platform, focusing on supplying solar power to corporations in Japan. The platform, known as PAG REN I, aims to leverage PAG’s extensive experience in the Japanese real estate sector and the expertise of its renewable energy team to support Japan’s ambitious solar plans. Japan is targeting to install 108GW of solar capacity by 2030, and PAG REN I will play a critical role in helping large corporations in Japan transition to clean energy.
Hammad Rahman, head of Asia Pacific – traditional infrastructure at Mubadala, highlighted the importance of this investment in reducing carbon emissions and decreasing reliance on imported fuels in Japan. The investment aligns with Japan’s domestic and international emission reduction targets and focuses on providing sustainable energy solutions to the corporate and industrial sectors. Japan is home to the second-highest number of organizations committed to sourcing 100% clean energy under the RE100 initiative, making it a key market for renewable energy investments.
PAG REN I’s partnership with Mubadala signifies a major commitment to renewable energy infrastructure in Japan. The platform will help support Japan in achieving its decarbonization goals and enhancing energy security by shifting toward domestic sources of energy. Additionally, the investment in PAG REN I adds to 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 and acquired a stake in Skyborn Renewables, the world’s largest private offshore wind developer.
Overall, Mubadala’s investment in PAG REN I reflects a broader trend of increasing interest and activity in renewable energy investments in Japan and the Asia Pacific region. By supporting Japan’s transition to clean energy and helping businesses access sustainable energy solutions, the partnership between Mubadala and PAG is not only in line with Japan’s environmental goals but also contributes to global efforts to address climate change. With Japan’s commitment to expanding solar power generation and reducing reliance on imported energy sources, PAG REN I is well-positioned to play a pivotal role in advancing the country’s renewable energy sector.
