A partnership between Mubadala and"Actis" To invest in "Resolve Energy"

ABU DHABI, 22nd December, 2017 (WAM) – Mubadala Investment Company (Mubadala), the sovereign investment company in Abu Dhabi, announced its investment of 300 million euros through a partnership with Actis, the leading global investor in the field of sustainable infrastructure in emerging markets, to invest in Resolve Energy, the independent and fast-growing platform in the renewable energy sector in the Central and Eastern European region.

This investment comes within the framework of Mubadala’s broader strategy, which aims to invest in leading platforms that contribute to accelerating the pace of the global transition towards clean energy, and developing a flexible infrastructure that supports economic growth in the long term.

Actis founded and invested in Resolve Energy, which has quickly become one of the leading companies in the clean energy generation sector in Central and Eastern Europe, helping companies and governments in that region meet their energy needs in light of the challenges of energy security and climate policies.

The platform has made significant progress since its launch, and work is currently underway to produce about 750 megawatts of renewable energy projects in Romania and Bulgaria, in addition to additional development projects with a capacity of 1.5 gigawatts at an advanced stage, including the “Dama” project in Romania, which is considered the largest solar energy generation project in Europe.

Resolve Energy has more than 15 years of experience in the clean energy sector in the region, and its executive management team includes names who have previously developed the largest wind power plants in Croatia and the Czech Republic, in addition to the largest independent wind power plant in Romania.

The joint investment commitment of Mubadala and Actis in Resolve Energy will accelerate the company’s growth, becoming the leading renewable energy platform in Central and Eastern Europe.

Saed Arar, Executive Director and Head of the Infrastructure Unit of the Physical Asset Investments Sector at Mubadala, said on this occasion that this investment reflects Mubadala’s strategy aimed at building and expanding the portfolio of physical assets that support efforts to transition towards a low-carbon economy. “Resolve Energy” represents a distinguished platform with its leadership, business volume, and broad market presence, as it contributes to accelerating the development of renewable energy sources projects in Central and Eastern Europe.

He added that the partnership with Actis ensures investment with a partner with long experience and a proven track record in the field of sustainable infrastructure, and through this cooperation, we support the provision of clean and reliable energy to industries and business sectors, while achieving long-term value for all parties concerned.

For his part, Alistair Hammond, CEO of Resolve Energy, said that thanks to the financial and technical support from Actis, Resolve Energy has achieved great progress, as work is underway on two large renewable energy projects in the Southeastern European region, with the launch of two other projects imminent after our success in obtaining “contracts for price differences” in Romania.

He explained that this partnership with another major investor committed to the field of renewable energy would allow the company to expand further and accelerate the pace of transformation of the energy sector in the region.

For her part, Lucy Heintz, head of the energy sector for Actis, said that investors are looking for the flexibility, scale and importance that the Actis model provides for investing in sustainable infrastructure in emerging markets, adding: “We are building real assets that we consider essential for national development, and we pair that with disciplined, long-term investment capital.”

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