Mubadala’s Indian Investees PDG & Tata Power co-invest in power plant

Mubadala’s Indian Investees PDG & Tata Power co-invest in power plant

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UAE-based Mubadala’s investee companies, Princeton Digital Group (PDG) and Tata Power Renewable Energy Limited, have signed a landmark partnership agreement for the supply of clean electricity to one of PDG’s flagship data centres in India.

Under the terms of the agreement, PDG, a leading Pan-Asia data centre operator, and Tata Power Renewables, one of India’s largest integrated power companies, have co-invested in a captive power plant that will supply electricity to PDG’s MU1 data centre in Airoli, Mumbai, under a 25-year renewable Power Consumption Agreement (PCA).

First power from the solar plant, located in the Nanded district in the Indian state of Maharashtra, will be generated in June 2023, with additional capacity to come online following the completion of future phases of the solar plant. The solar plant will help PDG’s MU1 with its target to be powered by up to 50 percent by renewable energy.

Khaled Abdulla Al QubaisiCEO Mubadala Real Estate & Infrastructure Investments

“Mubadala is delighted about the partnership between two of our investee companies, PDG and Tata Power Renewables. Both companies align with our focus on value creation, delivering positive outcomes for society, and our view that digitalization is vital to socioeconomic progress and development. By bringing our