Latest news with #ISquaredCapital
Trade Arabia
13 hours ago
- Business
- Trade Arabia
ALTÉRRA backs Absolute Energy to develop renewable capacity in Italy
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. 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. 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.' -
Zawya
13 hours ago
- Business
- Zawya
ALTÉRRA backs Absolute Energy to develop gigawatt-scale renewable energy capacity in Italy
Advances ALTÉRRA's mandate to deploy capital at speed for high-impact climate solutions. Project expected to avoid ~380,000 metric tons of CO₂e emissions annually Abu Dhabi – 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.' -Ends- [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.
Zawya
13 hours ago
- Business
- Zawya
UAE climate fund Altérra backs Absolute Energy in Italy renewables project
Alterra, one of the world's biggest private climate funds has made its second direct investment in Europe through Italian renewable energy firm Absolute Energy and plans more deals ahead, its chief executive told Reuters. The fund, set up in 2023 by the United Arab Emirates with $30 billion, has so far invested $6.5 billion, mostly through climate and transition funds run by leading global investment firms BlackRock, Brookfield, and TPG. The deal for Absolute Energy will have the fund investing $50 million in direct equity from its Acceleration Fund alongside U.S. infrastructure firm I Squared Capital. The investment will help accelerate the development of an initial 1.4 gigawatts in solar and battery storage across Italy. Until now, Alterra had only directly invested in two companies - $100 million each in Indian renewables platform Evren and French renewables company Neoen- but it now plans to scale up, Majid Al Suwaidi said. "We are now transitioning from the first phase of the development of Alterra into a new phase in our work," he said. "This is our third co-investment so far in rapid succession... it's really charting a new path for us." Absolute Energy's initial project is expected to reduce climate-damaging emissions by up to 380,000 tons a year and it has a broader development plan of 6 GW, Alterra said. Set up at the UAE-hosted COP28 climate talks, Alterra, which now has a team of 14, aims to mobilise $250 billion globally by 2030 to help accelerate the energy transition. Al Suwaidi said finding deals which fit its mandate had been "more challenging" than expected and that it was looking at smaller deals of $50 million or more in the areas of industrial decarbonisation, climate technology, sustainability and renewable energy "to get things going". "We're becoming smarter about what we want from a deal and clearer about what we are looking for," he said. Alterra said for every dollar invested by its Acceleration and Transformation funds it has so-far attracted $8 and $4, respectively, from other investors. (Reporting by Simon Jessop and Virginia Furness Editing by Tomasz Janowski)
Reuters
14 hours ago
- Business
- Reuters
UAE climate fund Altérra backs Absolute Energy in Italy renewables project
LONDON, June 3 (Reuters) - Alterra, one of the world's biggest private climate funds has made its second direct investment in Europe through Italian renewable energy firm Absolute Energy and plans more deals ahead, its chief executive told Reuters. The fund, set up in 2023 by the United Arab Emirates with $30 billion, has so far invested $6.5 billion, mostly through climate and transition funds run by leading global investment firms BlackRock (BLK.N), opens new tab, Brookfield ( opens new tab, and TPG (TPG.O), opens new tab. The deal for Absolute Energy will have the fund investing $50 million in direct equity from its Acceleration Fund alongside U.S. infrastructure firm I Squared Capital. The investment will help accelerate the development of an initial 1.4 gigawatts in solar and battery storage across Italy. Until now, Alterra had only directly invested in two companies - $100 million each in Indian renewables platform Evren and French renewables company Neoen- but it now plans to scale up, Majid Al Suwaidi said. "We are now transitioning from the first phase of the development of Alterra into a new phase in our work," he said. "This is our third co-investment so far in rapid succession... it's really charting a new path for us." Absolute Energy's initial project is expected to reduce climate-damaging emissions by up to 380,000 tons a year and it has a broader development plan of 6 GW, Alterra said. Set up at the UAE-hosted COP28 climate talks, Alterra, which now has a team of 14, aims to mobilise $250 billion globally by 2030 to help accelerate the energy transition. Al Suwaidi said finding deals which fit its mandate had been "more challenging" than expected and that it was looking at smaller deals of $50 million or more in the areas of industrial decarbonisation, climate technology, sustainability and renewable energy "to get things going". "We're becoming smarter about what we want from a deal and clearer about what we are looking for," he said. Alterra said for every dollar invested by its Acceleration and Transformation funds it has so-far attracted $8 and $4, respectively, from other investors.
Yahoo
14 hours ago
- Business
- Yahoo
ALTÉRRA Backs Absolute Energy to Develop Gigawatt-Scale Renewable Energy Capacity in Italy
Strategic co-investment alongside I Squared Capital to help deliver initial 1.4GW of clean energy across Italy Advances ALTÉRRA's mandate to deploy capital at speed for high-impact climate solutions. Project expected to avoid ~380,000 metric tons of CO₂e emissions annually ABU DHABI, United Arab Emirates, June 03, 2025--(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 annually1. 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 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. View source version on Contacts I SquaredDominic McMullan/Shelly Haganinfo@ ALTÉRRAAndreea 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
