Mubadala and PAG team up to boost Japan’s solar goals.

By Oliver Townsend May 25, 2024
Mubadala and PAG Launch PAG REN I to Boost Japan’s Solar Energy Ambitions.jpegOrginal image from: https://solarquarter.com/2024/05/25/mubadala-and-pag-launch-pag-ren-i-to-boost-japans-solar-energy-ambitions/

Efforts to boost Japan’s solar energy ambitions have received a significant push with the launch of PAG REN I by Mubadala and PAG. This new platform, focused primarily on Japan, aims to support the country’s goal of installing 108GW of solar capacity by 2030. The collaboration between Mubadala and PAG brings together expertise in renewable energy and real estate to drive sustainable energy solutions in the Asia Pacific region.

Supporting Japan’s Clean Energy Transition

PAG REN I will play a crucial role in helping large corporations in Japan transition to clean energy by leveraging the country’s corporate power purchase agreement (PPA) framework. This initiative aligns with Japan’s commitment to increasing solar power generation and reducing reliance on imported energy sources. By facilitating long-term electricity purchases from renewable energy suppliers, PAG REN I aims to accelerate Japan’s decarbonization efforts and enhance energy security.

Expanding Renewable Energy Ventures

For Mubadala, this investment in Japan marks a strategic expansion of its portfolio of renewable and clean energy ventures across different regions. With previous investments in Tata Power’s renewables platform in India and Skyborn Renewables, Mubadala continues to demonstrate its commitment to global clean energy initiatives. The collaboration with PAG in Japan underscores Mubadala’s dedication to driving sustainable energy solutions in major economies worldwide.

Maximizing Impact Through Collaboration

By partnering with PAG, Mubadala aims to contribute to Japan’s clean energy goals while supporting the country’s broader environmental objectives. The launch of PAG REN I signifies a significant step towards enhancing Japan’s solar energy capabilities and reducing carbon emissions. Through strategic investments and collaboration, Mubadala and PAG are working together to drive positive change in the renewable energy sector and promote sustainable development in the Asia Pacific region.

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