Abu Dhabi’s sovereign investor Mubadala Investment Company has teamed up with Actis, an investor focused on sustainable infrastructure, pledging around €300m ($351.25m) to back Rezolv Energy, an independent renewables platform in Central and Eastern Europe.
The move supports Mubadala’s wider goal of investing in leading platforms that advance the global energy transition and bolster resilient infrastructure to drive long-term economic growth.
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Since Actis established and invested in Rezolv Energy, the platform is stated to have become a significant player in clean energy generation in Central and Eastern Europe.
Actis head of energy Lucy Heintz said: “Investors are looking for the resilience, scale, and relevance that Actis’ growth market sustainable infrastructure platform offers – and we are gratified by the strong endorsement of this strategy and pleased to join forces with Mubadala.
“We’re building real-world assets that we believe are essential to national development, and pairing that with disciplined, long-term investment capital.”
Since its launch, Rezolv Energy is claimed to have made significant progress, with around 750 megawatts (MW) of renewable projects currently being built across Romania and Bulgaria.
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By GlobalDataThe company also has further 1.5 gigawatt (GW) of renewable projects in advanced pipeline, including Dama in Romania, which is set to become Europe’s largest solar plant.
Rezolv Energy is led by a management team with over 15 years of regional clean energy expertise and has previously delivered the largest wind farms in Croatia and the Czech Republic, along with Romania’s largest independent wind farm.
Rezolv Energy chief executive officer Alastair Hammond said: “With the financial and technical backing of Actis, Rezolv Energy has already made huge progress, with two large-scale renewable energy projects in construction in Southeastern Europe and two more about to move into the construction phase following our CfD success in Romania.
“Having Mubadala join as a shareholder will enable us to be even more ambitious, further accelerating the energy transition in the region.”
The joint investment from Mubadala and Actis is anticipated to speed up Rezolv Energy’s expansion, aiming to position the company as the leading renewable energy provider in Central and Eastern Europe.
Mubadala Real Assets head of infrastructure Saed Arar said: “This investment is a clear reflection of our strategy to invest and scale real assets that enable the transition to a low-carbon economy. Rezolv Energy offers a great platform with scale, leadership, and market access to accelerate renewable energy deployment across Central and Eastern Europe.
“Our partnership with Actis ensures we are investing alongside a highly experienced player with a proven track record in sustainable infrastructure. Together, we are supporting the development of clean and reliable energy for industries and businesses while delivering long-term value for all stakeholders.”
Earlier in March, Actis bought the complete stake in Stride Climate Investments, a solar generation asset portfolio in India.
