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Tuesday, 20 June 2023
Read full issueRENEWABLES
A long renewables commitment between Mubadala’s investee companies: Two of Abu Dhabi sovereign investor Mubadala’s investee companies — Princeton Digital Group (PDG) and Tata Power Renewables — are partnering to supply clean energy for a data center in India under a 25-year agreement, according to a statement.
What we know: Pan-Asia data center operator PDG and Tata Power Renewables are co-investing in a captive power plant that will supply electricity to one of the data operator’s flagship MU1 data centers in Mumbai’s Airoli.The generational capacity of the solar plant is not disclosed, but it will begin generating energy this month. Additional capacity will come online upon the completion of the plant’s future phases. The solar facility will help PDG’s MU1 achieve its target of being 50% powered by renewable energy.
Mubadala has been investing big in the two companies: Mubadala invested USD 350 mn in PDG — home to 21 data centers with a capacity of over 700 MW across six countries — last year, the statement notes. The Abu Dhabi sovereign investor also invested USD 525 mn in the same year in Tata Power Renewables — which is spearheading India’s energy transition with a 30 GW contribution by 2030 — along with BlackRock Real Assets.