ALTÉRRA Backs Absolute Energy to Develop Gigawatt-Scale Renewable Energy Capacity in Italy
ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--ALTÉRRA, the UAE's $30 billion climate investment vehicle, today announced a €50 million commitment via ALTÉRRA Acceleration Fund to Absolute Energy, an innovative Italian renewable energy platform. The co-investment, made alongside global infrastructure investment manager, I Squared Capital, will help accelerate the development of an initial active pipeline of 1.4GW projects across Italy.
Absolute Energy focuses on the rapid development of multiple commercially viable small to medium-scale solar projects across Italy, leveraging the country's supportive regulatory environment - including accelerated permitting processes and guaranteed grid access. Through this initial buildout of 1.4GW of solar and battery storage capacity, along with a broader development pipeline of over 6GW, Absolute Energy is well positioned to become a next-generation Independent Power Producer (IPP) playing a key role in advancing Italy's decarbonization and energy independence goals.
ALTÉRRA estimates that this 1.4GW pipeline could eliminate up to 380,000 metric tons of carbon dioxide equivalent (CO₂e) emissions annually 1.
Italy has set a national target of adding 46GW of new solar capacity by 2030 to advance its net zero ambitions, address rising power demand, strengthen energy security, and reduce dependence on energy imports. Benefiting from favourable conditions such as high solar irradiation levels coupled with supportive policies, Italy represents a compelling market opportunity for advancing solar infrastructure at a pivotal moment in Europe's energy transition.
H.E. Majid Al Suwaidi, CEO of ALTÉRRA commented:
'We are excited to support Absolute Energy as it enters its next phase of growth. With a strong pipeline and deep sector expertise, the company will help drive Italy's clean energy future. ALTERRA invests to accelerate the climate transition through innovative approaches and partnerships. In working with a global leader like I Squared Capital with their strong track record in platform building and investing in renewables, this investment further demonstrates how ALTERRA works with partners to invest at scale to accelerate impact across key markets.'
Sadek Wahba, Chairman and Managing Partner of I Squared Capital, said:
'We are proud to welcome ALTÉRRA as a strategic partner in Absolute Energy. Their investment underscores the strength of the platform and the scale of the opportunity in accelerating Italy's energy transition. ALTÉRRA brings deep climate focus and ambition, and we share their commitment to deploying capital with urgency and impact. This partnership is a powerful endorsement of Absolute Energy's innovative model and I Squared's long-standing approach to building transformational infrastructure businesses in critical sectors around the world.'
About ALTÉRRA
ALTÉRRA is the world's largest private investment vehicle for climate finance. Launched at COP28 with a US$30 billion commitment from the UAE, ALTÉRRA aims to build innovative partnerships to mobilize US$250 billion globally by 2030 to finance the new climate economy and accelerate the climate transition.
ALTERRA's dual-arm structure enhances its impact: the US$25 billion Acceleration Fund directs capital towards projects crucial for accelerating the global transition to a net-zero and climate-resilient economy at scale. The US$5 billion Transformation Fund incentivizes investment flows in high-growth climate opportunities in underserved markets by providing catalytic capital.
Alterra Management Limited is duly licensed and authorized by the ADGM Financial Services Regulatory Authority under the Financial Services Permission No. 200001.
About I Squared Capital
I Squared Capital is a leading global infrastructure investor managing $45 billion in assets. We build and scale essential infrastructure businesses that deliver critical services to millions of people worldwide. Our portfolio includes over 90 companies operating in more than 70 countries and spanning sectors such as energy, utilities, digital infrastructure, transport, environmental and social infrastructure. Headquartered in Miami, our team of over 300 professionals is based across offices in Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore, Sydney and Taipei. Learn more at www.isquaredcapital.com.
1 Based on assumptions such as the renewable assets' capacity factor and degradation, life cycle emission assessment, current power grid carbon intensity and a counter factual scenario.
Disclaimers
No discussion with respect to specific companies should be considered a recommendation to purchase or sell any particular investment. The companies discussed do not represent all past investments. It should not be assumed that any of the investments discussed were or will be profitable, or that recommendations or decisions made in the future will be profitable. Past performance is not indicative of future results, and there can be no assurance that any investment will achieve similar returns.
This document does not constitute advice or a recommendation or offer to sell or a solicitation to deal in any security or financial product. It is provided for information purposes only. Investing involves risk, loss of principal is possible. Specific investments described herein do not represent all investment decisions made by ISQ. The reader should not assume that investment decisions identified and discussed were or will be profitable. Specific investment advice references provided herein are for illustrative purposes only and are not necessarily representative of investments that will be made in the future.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
5 hours ago
- Yahoo
Inside key meeting to remove Trump tariffs
Trade Minister Don Farrell has detailed the discussion he had with his US counterpart Jamieson Greer, revealing he had the 'greatest confidence' in Anthony Albanese during an expected meeting with Donald Trump next weekend. Senator Farrell spoke to the US Trade Representative while in Paris last week and characterised the talk as 'friendly'. Despite this, he maintained the tariffs were 'simply unjustified', highlighting Australia's trade surplus with the US. Figures indicate Australia buys about $70bn worth of goods from the US, compared to the $30bn of exports Australia sells to America. 'It wasn't a difficult discussion in terms of the relationship between us, and I am certainly of the view that we have the opportunity to continue to talk with Jamieson and Commerce Secretary Lutnick to put our case across,' he said. Senator Farrell also said he was still determined to get the trade barriers slashed. 'It's only by open discussion, honest discussion, with our allies in the United States that I think we can do that, but I certainly haven't given up on the prospect of getting these tariffs removed,' he said. 'And every opportunity I get, I'll continue to pursue that argument with the United States.' However, Senator Farrell said the decision will be ultimately made by Donald Trump, putting increased pressure on Mr Albanese's upcoming meeting with the US President. He said that while there were a 'range of ways' in which Australia communicates with the US, the 'most important … relationship between our prime minister and the president of the United States'. 'Look every meeting, I think, between an Australian Prime Minister and the US president will always be a critical meeting and I have the greatest confidence in our prime minister to push the Australian point of view on this.' The trade barriers currently include a 50 per cent levy on steel, a 25 per cent tariffs on aluminium and a blanket 10 per cent on other goods. While Mr Albanese maintained he won't compromise on Australia's biosecurity, he hinted Australia could review current settings which don't allow the US to import beef which originates from Canada and Mexico. Mr Albanese has also ruled out changes to the Pharmaceuticals Benefit Scheme, News Media Bargaining code and incoming ban on social media for under-16s, while highlighting Australia's critical minerals industry as a potential bargaining chip. 'If things can be sorted out in a way that protects our biosecurity – of course, we don't just say no, we don't want imports in here for the sake of it,' he told ABC radio on Friday. 'But our first priority is biosecurity and there'll be no compromise on that.' Mr Albanese said Australia would not have a 'subservient relationship to any nation'. 'We're a sovereign nation that stand on our own two feet,' he said. Senator Farrell also said he was 'confident' Australia can secure a new trade deal with the European Union, with EU President Ursula von der Leyen expected to visit Australia in July or August. 'We've got lots of things that we can sell to the to the Europeans. I believe now that there's an appetite to reach an agreement on both sides,' he said. 'The world has changed, those countries that believe in free and fair trade have to work together.'
Yahoo
6 hours ago
- Yahoo
'Haven't given up': minister seeks tariff breakthrough
Australia's trade minister remains confident tariffs imposed by the US will be removed, ahead of a likely meeting between Anthony Albanese and Donald Trump. The two leaders could meet on the sidelines of the G7 summit in Canada next week, with the economic measures imposed by the US president around the world set to dominate discussions. As Australia looks to negotiate for an exemption on tariffs, Trade Minister Don Farrrell was optimistic a deal could be reached. "I certainly haven't given up on the prospect of getting these tariffs removed, and every opportunity I get, I'll continue to pursue that argument with the United States," he told Sky News on Sunday. "There is no justification for the United States to impose tariffs on Australia ... we want all of the tariffs removed, not just some of them." Mr Trump recently signed off on doubling tariffs on exports on steel and aluminium from 25 to 50 per cent. All other Australian exports to the US have been slapped with a 10 per cent tariff. Senator Farrell met with US trade representative Jamieson Greer last week and said he pushed the case for all of the economic measures to be removed. The minister was hopeful a similar approach that removed $20 billion worth of tariffs on Australian goods entering China could be used with America. "We didn't retaliate on that occasion, and bit by bit, we managed to get all of those tariffs that had been applied on Australia by China removed. I'd like to do the same with the United States," he said. "It's only by open discussion, honest discussion with out allies in the United States that I think we can do that." As the US Defence Secretary Pete Hegseth urged Australia to increase its defence spending by billions of dollars to 3.5 per cent of GDP, Senator Farrell said the federal government had already proved its commitment through the AUKUS submarine deal. Australia is looking to up its total spent on defence to 2.3 per cent. "We are committed to the defence of this country, we are committed to a significant uplift in the amount of spending," Senator Farrell said. "(AUKUS) is going to be a project that's worth more than $360 billion, so I think we've talked the talk." Prime Minister Anthony Albanese signalled on Friday negotiations on opening up access to US beef into Australia could be on the table as part of tariff negotiations. However, he said biosecurity would not be compromised in order to reach an agreement.
Yahoo
12 hours ago
- Yahoo
Amazon.com (NasdaqGS:AMZN) Expands AWS Presence With US$5 Billion Data Center Investment In Taiwan
recently announced the launch of its AWS Asia Pacific (Taipei) Region, highlighting a $5 billion investment in data center infrastructure. This expansion, coupled with a $10 billion investment in North Carolina to bolster AI and cloud computing capabilities, underscores Amazon's commitment to innovation and business growth. These significant developments align with Amazon's overall strategic objectives and may enhance its market position. The company's share price rose 13% over the past month, coinciding with the market's general upward trend, which experienced a 13% rise over the past year across the broader market. Buy, Hold or Sell View our complete analysis and fair value estimate and you decide. The end of cancer? These 23 emerging AI stocks are developing tech that will allow early identification of life changing diseases like cancer and Alzheimer's. The recent developments regarding Amazon's investments in the AWS Asia Pacific (Taipei) Region and North Carolina can significantly influence the company's operational strategy, furthering its drive towards AI and cloud computing capabilities. These initiatives are expected to enhance revenue streams, aligning with the company's narrative of optimizing efficiency through advanced technologies. Over the three-year timeframe, Amazon's total shareholder return, inclusive of share price and dividends, achieved a 94.77% increase. Within the past year, Amazon's share price rise of 13% outpaced the broader market's 12.6% gain, reflecting robust performance despite prevailing industry challenges. In light of Amazon's stated commitments, analysts have projected revenue growth of 8.9% per annum, bolstered by both traditional and AI-driven cloud services. Earnings prospects are anticipated to rise to US$103.6 billion by 2028, up from US$65.94 billion today. While these expansions present opportunities for substantial revenue increases, the pressure from infrastructure investments must be carefully managed to sustain growth expectations. With a current share price of US$185.01, the 22.7% higher analyst price target of US$239.33 illustrates an optimistic market consensus. However, investors are advised to consider both market risks and the variations in analyst predictions when evaluating Amazon's future prospects. Unlock comprehensive insights into our analysis of stock in this financial health report. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NasdaqGS:AMZN. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
