Latest news with #MajidAlSuwaidi
The National
12-06-2025
- Business
- The National
World watches as national climate goals loom over Cop30
Leading figures have sounded the alarm as they gathered in the UAE ahead of the next major round of UN climate talks at Cop30, in Brazil. Speaking at an event in Abu Dhabi on Thursday, Majid Al Suwaidi, chief of climate investment vehicle, Alterra, warned that the talks are up against 'significant challenges'. 'To date, only 15 updated Nationally Determined Contributions (NDCs) have been submitted,' Mr Al Suwaidi said. While the original deadline was February, a revised cut off in September is now the last window to submit updated pledges before Cop30 opens in Belem, Brazil, in November. Both Brazil and the UAE laid out robust NDCs ahead of the initial February deadline. 'Ambition and finance go hand in hand,' Mr Al Suwaidi added. 'The world will be watching closely to see whether these NDCs rise to the level of ambition that we truly need.' Mr Al Suwaidi, a seasoned climate negotiator and Cop28 director general, praised Brazil's leadership skill, noting the country's track record of inclusive dialogue and its symbolic role as steward of the Amazon. 'I have great confidence in the Brazilian residency, their diplomatic skills have been evident throughout the climate negotiations, and was on full display during their successful G20 presidency last year.' EU's NDC's on track to meet new deadline Discussions at Cop30 are expected to focus on whether national climate plans will collectively keep humanity on track to meet the Paris Agreement's goals, as well as on the mobilisation of $1.3 trillion in climate finance hammered in at climate talks at Cop29. At Cop29 in Baku, Azerbaijan, Marina Silva, Brazil's Minister of Environment, described it as the finance Cop but claimed Cop30 would be the Cop of NDCs. Climate activists hope more can be achieved in Brazil than in Baku. EU ambassador to the UAE, Lucie Berger, confirmed to The National that the bloc is on track to submit its updated contribution by September, but noted that all 27 member states must align through democratic processes. Ms Berger pointed to Cop28 in Dubai as a turning point, where global agreement was reached on transitioning away from fossil fuels and tripling renewable energy capacity. 'We've shown that coalition-building around shared causes works,' she said. 'Now we need to bring that same spirit to Cop30.' Ms Berger also highlighted the Amazon as a fitting host for the summit's 30th milestone. 'We need to see measurable, inclusive progress on nature, biodiversity, and deforestation,' she said. On the ground, she added that the EU and the UAE are looking to co-operate on clean energy projects in the Middle East and North Africa, as well as explore co-operation on carbon trading and pricing. 'I think we're currently looking for more strategic partners and the UAE comes naturally to mind,' she said. What is at stake? For Pacific nations on the front lines of climate disruption, firm national and financial commitments cannot come soon enough. Fiji's ambassador to the UAE, Siddiq Koya, warned that time is running out for communities facing rising seas, worsening storms and crop loss. 'This is the last batch of NDCs that matter,' he said. 'For the Pacific, 1.5°C is not a policy preference – it's a red line for survival.' He stressed the need for finance systems that are accessible and tailored to vulnerable nations' needs. 'We are delivering, but we cannot deliver alone,' he said, mentioning loss of coral reefs, forced relocations and unsustainable rebuilding cycles. Christoph Klarmann, Chargé dÁffaires of the German embassy, echoed those concerns. Recounting a recent landslide in the Swill Village of Blatten caused by glacial melt, he warned: 'Climate change is not just a climate emergency. It is actually a human emergency. The consequences affect water, food, health, security and ultimately peace.' Germany, he added, remains committed to its net zero target by 2045, and views the UAE's new climate law and corporate decarbonisation requirements as positive progress.
Al Etihad
04-06-2025
- Business
- Al Etihad
ALTÉRRA backs Absolute Energy to develop gigawatt-scale renewable energy capacity in Italy
ABU DHABI (ALETIHAD) ALTÉRRA, the UAE's $30 billion climate investment vehicle, has announced a €50 million commitment via the ALTÉRRA Acceleration Fund to Absolute Energy, a forward-thinking Italian renewable energy platform. The co-investment, made alongside global infrastructure investment manager I Squared Capital, aims to fast-track the development of an initial 1.4GW active pipeline of projects across Italy. Absolute Energy is focused on the swift deployment of multiple commercially viable small to medium-scale solar projects throughout the country. Through this initial phase — comprising 1.4GW of solar and battery storage capacity — and with a broader development pipeline exceeding 6GW, Absolute Energy is positioned to become a next-generation Independent Power Producer (IPP), advancing Italy's decarbonisation and energy independence objectives. ALTÉRRA estimates that the 1.4GW pipeline could eliminate up to 380,000 metric tonnes of carbon dioxide equivalent (CO₂e) emissions annually. Italy has set a national target of adding 46GW of new solar capacity by 2030 in support of its net-zero ambitions. With high solar irradiation levels and favourable policy support, the country presents a compelling opportunity for expanding solar infrastructure. Majid Al Suwaidi, CEO of ALTÉRRA, said: '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. ALTÉRRA 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 ALTÉRRA works with partners to invest at scale to accelerate impact across key markets.' Sadek Wahba, Chairman and Managing Partner of I Squared Capital, added: '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.'
Yahoo
03-06-2025
- 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
Business Wire
03-06-2025
- Business
- Business Wire
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 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.
Gulf Business
30-04-2025
- Business
- Gulf Business
ALTÉRRA co-invests $100m in Indian clean energy platform Evren
Image: Getty Images/ For illustrative purposes The move, made alongside Brookfield Asset Management and other investors, aims to accelerate clean energy deployment in one of the fastest-growing major economies. The investment was made through the ALTÉRRA Acceleration Fund and marks the fund's first direct investment into the Global South. It will support the development of approximately 11 gigawatts (GW) of solar, wind, and battery storage projects across the Indian states of Rajasthan and Andhra Pradesh. The projects are expected to contribute significantly to India's national target of achieving 500GW of renewable energy capacity by 2030. Evren: A key company supporting India's energy transition Evren, a key player in India's energy transition, is focusing on strengthening the country's clean energy ecosystem. The company works with domestic manufacturers for wind turbines and solar modules, supporting supply chain resilience and local economic development. India, projected to grow at around 6.5 per cent GDP in 2024, is pushing to meet its surging energy demand through clean sources. The transition is expected to require as much as $300bn in investment by 2030, driven by economic expansion, technological advancements in energy storage, and favorable regulatory reforms aimed at improving the renewable energy investment climate. 'ALTÉRRA's investment in Evren is a powerful demonstration of our mission in action — catalysing capital into tangible, scalable, and economically compelling climate initiatives,' said Majid Al Suwaidi, CEO of ALTÉRRA. 'By deploying capital into India's fast-growing economy, we are supporting reliable and affordable energy generation and unlocking investable opportunities. ALTÉRRA's Connor Teskey, president of Brookfield Asset Management, welcomed the co-investment: 'ALTÉRRA's investment in Evren is a significant milestone in our ongoing commitment to accelerating the global energy transition. By combining Evren's robust development pipeline and Brookfield's extensive operational expertise, we are not only supporting India's ambitious renewable energy targets but also fostering economic growth and energy security.' ALTÉRRA, Brookfield investments Evren is among the latest investments from Brookfield's Global Transition Fund II (BGTF II), which is still raising capital following a record $15bn in its first vintage. ALTÉRRA committed $2bn to BGTF II during COP28, becoming its largest third-party investor. The Evren transaction reflects ALTÉRRA's strategy of mobilising institutional capital into both developed and emerging markets and underscores its expanding role in the global clean energy landscape. The investment highlights ALTÉRRA's progress since its launch and signals its ambition to scale up impact in 2025.
