Abu Dhabi’s Mubadala to invest in Asper’s Dhs2.1bn investment vehicle

Abu Dhabi’s Mubadala to invest in Asper’s Dhs2.1bn investment vehicle

Abu Dhabi-based Mubadala, will be buying a stake in Asper Investment Management's (Asper) investment vehicle, it confirmed on December 15.

Dorothea investment vehicle (Dorothea) aims to deploy over Dhs2.1bn (€500m) to build a network of district heating services across the Netherlands. Dorothea's newly installed heating capacity is expected to provide over 2 million Gigajoule (GJ) of sustainable heat by using clean-energy sources including a combination of geothermal, residual heat and sustainable biomass.

This complements the Netherlands' efforts to increase renewable energy sources penetration from the current 7 per cent  to 100 per cent by 2050. Over the next 30 years, 7 million households in the country will switch to CO2 free heating solutions to meet these goals.

Khaled Abdulla Al Qubaisi, CEO of Mubadala Aerospace, Renewables and ICT said: "This investment is highly attractive for us, as heating networks not only support the development of sustainable energy infrastructure, but are also stable assets which provide predictable cash flows and steady returns. Mubadala and Asper have a successful record of investing in public energy services and as Europe transitions to a zero-carbon future, we are excited about the role that Dorothea will play in this.“

"Heating network investments are one of Asper's