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Abu Dhabi sovereign investor Mubadala has acquired $200 million of UK asset manager Equitix’s stake in Greenlink, a joint venture between Equitix and Baltic Cable that operates a 504MW subsea electricity interconnector linking Great Britain with Ireland.
Mubadala said the investment is part of its strategy to focus more on infrastructure assets that support power systems.
Spanning 190kms, Greenlink has a nominal capacity equivalent to powering around 380,000 homes and has been designated as a ‘Project of Common Interest’ by the European Union as part of its regional energy security.
Mubadala has been actively investing in infrastructure assets in the region including $325 million in Orsted’s Hornsea 3 offshore wind farm located off the Norfolk coast in the UK in May.
(Writing by Bindu Rai, editing by Seban Scaria)
