The Abu Dhabi sovereign investor, Mubadala Investment Company, has made a cornerstone investment in PAG’s Asia Pacific renewable energy platform, its first investment in Japan's clean energy sector.

Mubadala did not disclose the size of its investment.

The platform aims to operate across developed Asia Pacific economies with a strong focus on Japan, and will support Japan’s ambitious solar plans, with the country targeting to install 108GW of solar capacity by 2030.

Reuters reported that the Asia-Pacific investment firm had raised $550 million for its first renewable energy fund. Citing a statement from the company, it said investors in the PAG REN I fund include pensions, sovereign wealth funds and fund-of-funds investors in North America, Europe and the Middle East.

(Writing by Brinda Darasha; editing by Seban Scaria)