Mubadala to invest in Asper’s $571m Dorothea investment vehicle
ABU DHABI, December 15, 2020
Mubadala, the Abu Dhabi-based sovereign investment company, today announced that it will be taking a significant stake into Asper Investment Management’s Dorothea investment vehicle.
Dorothea is targeting to deploy more than AED2.1 billion ($571 million) into building a network of district heating services across the Netherlands. Asper is Europe’s leading independent investment management firm specialised in sustainable real assets with investment vehicles dedicated to energy transition and a track record in district heating since 2014. Other investors in Dorothea include APG and the European Investment Bank.
Dorothea’s newly installed heating capacity is expected to deliver over 2 million GJ of sustainable heat by using clean-energy sources including a combination of geothermal, residual heat and sustainable, locally-sourced biomass. This builds on the Netherlands’ efforts to increase Renewable Energy Sources penetration from 7% today to 100% by 2050. Over the next 30 years, 7 million households in the country will switch to CO2 free heating solutions to meet these objectives.