Mubadala ventures into Japan’s green energy market

AL Circle

In a strategic move signalling its commitment to sustainable energy, the Abu Dhabi-based Mubadala Investment Company has announced a significant cornerstone investment in PAG's Asia Pacific renewable energy platform. This marks Mubadala's inaugural venture into Japan's burgeoning clean energy sector. While the specific financial details of the investment remain undisclosed, this partnership underscores Mubadala's ongoing dedication to expanding its global renewable energy footprint and supporting the transition to a more sustainable future.

Mubadala ventures into Japan’s green energy market

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PAG is a leading alternative investment firm focused on APAC with three core strategies: credit & markets, private equity, and tangible assets. Emirates Global Aluminium is the world’s largest ‘premium aluminium’ producer and the largest industrial company in the United Arab Emirates outside of oil and gas. EGA is jointly owned by Mubadala and the Investment Corporation of Dubai.

The platform intends to operate across developed Asia Pacific economies, with a strong emphasis on Japan, supporting the country's ambitious goal to install 108 GW of solar capacity by 2030.

According to Reuters, the Asia-Pacific investment firm has raised $550 million for its inaugural renewable energy fund. In a company statement, it was proudly noted that the diverse range of investors in the PAG REN I fund, including pensions, sovereign wealth funds, and fund-of-funds investors from North America, Europe, and the Middle East, reflects the broad appeal and potential for success of the fund.

The demand for aluminium is poised for significant growth in the coming years, primarily fuelled by an increasing preference for eco-conscious solutions across various sectors such as transportation,  infrastructure, energy, and food security. In the post-pandemic era, the aluminium extrusion market rebounded in almost all regions, with global extrusion usage reaching an estimated 31.5 million tonnes in 2023. The global aluminium industry faces significant challenges stemming from geopolitical crises, economic slowdowns in major economies, and soaring energy prices.

According to AL Circle's latest industrial report, "The World of Aluminium Extrusions - Industry Forecast to 2030", the anticipation of China's economic growth and market stabilisation will result in the rapid expansion in demand for extrusion, which is expected to ease. Nevertheless, other areas have promising prospects,  notably the drive towards vehicle lightweighting and the global shift towards solar energy. 

The prospects for aluminium extrusion within the renewable energy sector are promising. Ongoing advancements in extrusion technology are poised to foster innovation, positioning engineered aluminium as a pivotal element in renewable energy systems.

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