Through its Positive Motion 2030 strategy, CEPSA is investing up to 8 billion euros to become leaders in sustainable mobility, green hydrogen and second-generation biofuels for Spain and Portugal.
One of the leading integrated energy companies in Spain with operations in over 20 countries across four continents, CEPSA is transforming its traditional energy business into a sustainable mobility and energy ecosystem. It aims to produce 2GW of green hydrogen and 2.5 million tonnes of biofuel by the end of the decade.
Mubadala is supporting CEPSA’s ‘Positive Motion’ strategy as it targets not just reaching net zero by 2050, but to go beyond, to be net positive, creating value and a brighter future for all.
During COP28, Cepsa and C2X announced a partnership to develop the largest green methanol plant in Europe. In the presence of Spanish President Pedro Sánchez, the two companies explained their plans to open a plant in Huelva with an investment of up to 1 billion euros.
One of the five largest green methanol plants in the world, it will have an annual production capacity of 300,000 tons, avoiding the emissions of up to 1 million tons of CO2.
Sánchez acknowledged that this investment is fully aligned with Spain's reindustrialization and energy transition strategy.
GlobalFoundries is one of the world’s leading semiconductor manufacturers and the only one with a global footprint.
Their 'Journey to Zero' commitment to sustainability and minimizing their impact on the environment led to annual savings of 35.2 million kWh of electricity and 816,000 m³ of water conservation in 2022.
They are on track to reduce their greenhouse gas emissions by 25 percent by 2030.
Created in 2006 by Mubadala, Masdar is one of the world’s largest renewable energy companies and a green hydrogen leader. Masdar is active in more than 40 countries and manages projects with a combined value of over USD 30 billion.
Today, the company is co-owned by Mubadala, ADNOC, and TAQA and aims to increase its capacity to 100GW by 2030.
Masdar started COP28 on a strong footing as its GBP11 billion partnership with RWE Clean Energy in the UK offshore wind market was announced by UK Prime Minister, Rishi Sunak, during his speech at the World Climate Action Summit.
Over two weeks at COP28, Masdar concluded 36 deals and announcements with major players across the US, Southeast Asia, the Middle East, Europe, and Africa.
Skyborn Renewables, the largest private offshore wind developer in the world, was acquired by Mubadala and Global Infrastructure Partners (GIP).
With its strong presence in Europe and Asia Pacific, Skyborn Renewables has successfully developed more than 7GW of energy capacity in offshore wind and it has a 30GW pipeline of highly diversified offshore wind projects, the fastest growing renewable energy sector.
Emirates Global Aluminium (EGA) produced 66 thousand tons of CelestiAL solar aluminium in 2023, with some volume sweetened with recycled content as CelestiAL-R.
During the year, EGA announced the start of construction of the UAE’s largest aluminium facility. When completed, EGA’s recycling plant in Al Taweelah will have an annual production capacity of 170 thousand tons per year.
Masdar City is a pioneering sustainable urban community, a world-class business and technology hub, and a “green print” for cities that want to be part of the solution to climate change.
With one of the largest clusters of LEED Platinum buildings in the world, it is dedicated to creating a new kind of city, a new way of working and living, and a more sustainable future for everyone.
The Masdar City Free Zone is a diverse, innovative, and ambitious group of over 1,000 organizations that benefit from comprehensive business support as well as the city’s rich ecosystem. Masdar City hosts a growing residential community and two generations of autonomous vehicles. It also manages the Masdar Green REIT, a real estate investment trust dedicated to investing in sustainable real estate assets. Currently the Masdar Green REIT is worth nearly AED 2.8 billion.
Masdar City is a proud partner in 'Innovate for Climate Tech.'
Tabreed is a world-class developer of environment-friendly district cooling solutions in the UAE, now with 90 plants in its portfolio and operating in six countries.
In 2023, the company saved 2.52 billion kWh in energy avoiding 1.5 million metric tons of CO2 emissions. Their Tasheel VFD Retrofit Project improves plant efficiency through Variable Frequency Drives – as of 2023, three phases have been successfully completed and the company estimates that, over the next ten years, this will save an additional 223,000,000 kWh, consequently preventing the release of a further 105,000 metric tons of CO2 emissions.
In 2023, Mubadala acquired a minority stake in GlobalConnect, a fiber-based data communication and data center services provider to enterprises, public institutions and consumers in Northern Europe.
Since 2020, GlobalConnect has operated on 100 percent renewable energy, implementing an innovative immersive cooling technology that is at the forefront of reducing the environmental impact of the data center industry.
With demand for data centers booming, GlobalConnect’s innovative cooling technology uses immersive cooling instead of air cooling, which is proven to have significant environmental benefits, as measured by Power Usage Effectiveness.
With an even more energy-hungry future looming, GlobalConnect is exploring ways of keeping the environmental impact of the entire industry in check.
As one of the leading real estate developers and managers in the UAE, Aldar is committed to becoming net zero by 2050, with 90 percent greenhouse gas emission reduction targets, in line with the latest climate science.
Aldar's Sustainable Design Standard embeds low-carbon design options, maximizing energy efficiency, building performance and asset climate resilience, while still prioritizing clean energy, tenant sustainability guidance and better waste management.
In 2023, Mubadala invested in Aligned Data Centers, a leading pan-Americas data center company headquartered in the U.S. With this investment, Mubadala became a minority partner alongside majority partners managed by Macquarie Asset Management.
The investment is expected to support Aligned's rapid expansion in the Pan-American data center market, meeting the growing demand for data centers and delivering sustainable and essential digital infrastructure across the region.
LeasePlan is one of the world’s leading leasing companies with 1.8 million vehicles in over 30 countries.
The company manages the entire life cycle of its vehicles, handling everything from purchasing and maintenance to selling formerly leased cars and aims to achieve net zero tailpipe emissions by 2030.
They are one of the founding members of the EV100 - a global initiative designed to accelerate the use of electric vehicles, 28 percent of all new vehicle activations in 2022.
Yahsat is a leading fixed and mobile satellite services operator offering integrated satellite communications solutions in more than 150 countries.
During COP28, Yahsat played an integral role driving the ‘Space Sustainability Agenda’ with a focus on climate tech and satellite communications solutions in the service of sustainability.
Yahsat hosted two sessions during COP28 including a knowledge-sharing session on empowering at-risk and indigenous communities through capability building and technology for adaptation and mitigation”, and a panel discussion on the role of technology in supporting ocean biodiversity and safety of the fishing community.
Yahsat’s senior management participated in eight COP28 sessions, demonstrating technologically advanced space solutions to accelerate climate action at the country, regional, and global level.
Yahsat also signed a strategic collaboration with Greenhouse Gas Satellite (GHGSAT) and Abu Dhabi National Oil Company (ADNOC), aimed at reducing methane emissions from the global energy sector, which was recognised as a flagship ‘lighthouse project’ at COP28.
ACX a Mubadala portfolio company and a leading environmental markets exchange, caters to corporates, financial traders, carbon project developers and other industry stakeholders.
ACX leverages its proprietary technology to facilitate and scale growth of the environmental product markets to align with global ambitions of achieving Net Zero.
In 2022, Mubadala acquired a strategic stake in ACX that established the first fully regulated carbon trading exchange in Abu Dhabi. ACX provides corporates, financial entities, carbon project developers and other market participants with an efficient and transparent means of trading environmental instruments.
Through leveraging distributed ledger technology, ACX provides a seamless and user-friendly platform with the lowest transaction fees in the market, to facilitate growth of environmental instrument markets and contribute to the necessary transition to a net zero global economy.
Mubadala is also supporting innovative solutions to climate finance through its investment in ACX.
By mid-century, BloombergNEF projects voluntary carbon markets could grow to between USD 160 billion and USD 624 billion annually. The UAE’s recognition of carbon as a regulated asset class is an advantage in this market because banks and ACX’s other financial institution clients want to trade in a fully regulated market.
Hub71 provides startups from around the world with access to opportunities and resources to help them grow – from funding and mentorship to networking and commercial opportunities.
They have successfully onboarded more than 220 startups since 2019 and are contributing to UAE’s sustainability by actively supporting Climate Tech innovations. AgriTech and FoodTech are also key focus sectors to support innovative, sustainable solutions.
In 2023, Mubadala Invested USD 500 million alongside GIP, GIC, TotalEnergies and Next Decade to finance the construction of the first phase of the 27 million tonnes per annum Rio Grande LNG (‘’RGLNG’’) export facility in Texas.
The RGLNG project, upon completion, is poised to become the largest privately funded infrastructure endeavour in Texas and a benchmark for low-carbon intensity in US gas projects. The project underscores the critical role that LNG and natural gas will continue to play in supporting the transition towards cleaner forms of energy.
Tata Power Renewables is one of India’s largest integrated power companies. Mubadala, in partnership with BlackRock Real Assets, invested USD 525 million which will see them achieve more than 20GW of renewable energy generation capacity.
They are leading the rooftop solar and electric vehicle charging space in India. Tata anticipates increasing renewable assets from 4.5GW to 20GW over the next five years, and will be contributing 6 percent, or 30GW, to India's grid by 2030.
Their portfolio will create a lifetime carbon emissions reduction of 4.2 million tons by 2037, whilst also supporting the development of electric vehicle charging infrastructure in the UK. Mubadala, in partnership with BlackRock and in consortium with Goldman Sachs Infrastructure Partners, successfully completed the take private of Calisen in 2021.
Zenobē is an electric vehicle (EV) fleet and grid-scale battery storage specialist based in the UK. The company is one of the largest owners and operators of EV buses in the UK, Australia and New Zealand and has a growing portfolio in continental Europe and North America.
The battery specialist has 430MW of battery storage in operation or under construction and 1.2GW of projects in advanced development with more to come. Zenobē aims to power 4,000 electric buses, trucks, and commercial vehicles by 2026.
In 2022, Mubadala invested USD 350 million in Singapore-based Princeton Digital Group, a leading Pan-Asia data center operator with a footprint across key Asian digital economies. The company has committed to using 100 percent renewable energy by 2030 and recently joined the iMason’s Climate Accord, a global initiative to reduce carbon in digital infrastructure.
Princeton Digital Group (PDG) develops and operates data center infrastructure in the dynamic digital economies of Asia including China, Singapore, India, Indonesia, Malaysia, and Japan. They have offset about 6 percent of the 2022 carbon footprint through renewable energy procurement from geothermal sources and first-of-a-kind procurement of biomass energy, in the form of RECs in Indonesia.
Additionally, PDG finalized a solar PPA in India and entered a biomass power PPA in Indonesia. PDG is operating greenfield hyperscale projects in China at industry leading power usage effectiveness and is piloting the use of industry leading cooling technologies in its datacenters.
