Two companies backed by the UAE's Mubadala Investment Company, including pan-Asia data centre operator Princeton Digital Group and Tata Power Renewables have signed an agreement to collaborate on clean electricity.
PDG and Tata Power Renewables have jointly invested in a captive power plant that will supply power to the Singapore-based company’s MU1 data centre in Mumbai under a 25-year agreement, Abu Dhabi’s strategic investment company said on Monday.
“Both companies align with our focus on value creation and delivering positive outcomes for society, and our view that digitalisation is vital to socioeconomic progress and development,” said Khaled Al Qubaisi, chief executive, Real Estate and Infrastructure Investments at Mubadala.
“By bringing our partners together, we are further supporting the building of sustainable solutions in India, a key strategic partner and market for Mubadala.”
First power from the solar plant, which is in the Indian state of Maharashtra, will be generated in June this year, with additional capacity to come online after the completion of future phases of the project, Mubadala said.
The solar plant will help MU1 with its target to be powered by up to 50 per cent by renewable energy, the fund said.
“Cloud and digital adoption continue to surge in India leading to unprecedented growth in digital infrastructure,” said Vipin Shirsat, general manager, India at PDG.
“This gives us an opportunity to make long-term decisions that not only foster growth and innovation but also solve sustainability.”
Last year, Mubadala led a funding round of more than $500 million for PDG as it builds its digital infrastructure portfolio.
Mr Al Qubaisi said at the time that Mubadala would work jointly with PDG’s management to accelerate its growth and create sustainable and long-term value, while supporting Asia’s digital infrastructure development as a vital enabler to economic progress.
In 2022, a consortium led by BlackRock Real Assets, which included Mubadala, invested $525 million in Tata Power Renewables to create the country’s “most comprehensible” renewable energy platform.
Mubadala, which invests on behalf of the Abu Dhabi government, is at the heart of the emirate’s efforts to diversify its revenue base and generate income from sources other than oil.
The fund invested Dh107 billion ($29.13 billion) last year across various sectors and received proceeds of Dh106 billion by monetising assets at strong valuations.
The investments were made in sectors including life sciences, renewable energy and digital infrastructure, in line with the company’s strategy to invest in industries shaping the future, Mubadala said.
Assets under management across the group stood at $276 billion.
Sam Smith
Where: du Arena, Abu Dhabi
When: Saturday November 24
Rating: 4/5
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
The Freedom Artist
By Ben Okri (Head of Zeus)
Company%20profile
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
Shubh Mangal Saavdhan
Directed by: RS Prasanna
Starring: Ayushmann Khurrana, Bhumi Pednekar
The Perfect Couple
Starring: Nicole Kidman, Liev Schreiber, Jack Reynor
Creator: Jenna Lamia
Rating: 3/5
UAE currency: the story behind the money in your pockets
Global Fungi Facts
• Scientists estimate there could be as many as 3 million fungal species globally
• Only about 160,000 have been officially described leaving around 90% undiscovered
• Fungi account for roughly 90% of Earth's unknown biodiversity
• Forest fungi help tackle climate change, absorbing up to 36% of global fossil fuel emissions annually and storing around 5 billion tonnes of carbon in the planet's topsoil
Gran Gala del Calcio 2019 winners
Best Player: Cristiano Ronaldo (Juventus)
Best Coach: Gian Piero Gasperini (Atalanta)
Best Referee: Gianluca Rocchi
Best Goal: Fabio Quagliarella (Sampdoria vs Napoli)
Best Team: Atalanta
Best XI: Samir Handanovic (Inter); Aleksandar Kolarov (Roma), Giorgio Chiellini (Juventus), Kalidou Koulibaly (Napoli), Joao Cancelo (Juventus*); Miralem Pjanic (Juventus), Josip Ilicic (Atalanta), Nicolo Barella (Cagliari*); Fabio Quagliarella (Sampdoria), Cristiano Ronaldo (Juventus), Duvan Zapata (Atalanta)
Serie B Best Young Player: Sandro Tonali (Brescia)
Best Women’s Goal: Thaisa (Milan vs Juventus)
Best Women’s Player: Manuela Giugliano (Milan)
Best Women’s XI: Laura Giuliani (Milan); Alia Guagni (Fiorentina), Sara Gama (Juventus), Cecilia Salvai (Juventus), Elisa Bartoli (Roma); Aurora Galli (Juventus), Manuela Giugliano (Roma), Valentina Cernoia (Juventus); Valentina Giacinti (Milan), Ilaria Mauro (Fiorentina), Barbara Bonansea (Juventus)
Company%20profile
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Last 10 NBA champions
2017: Golden State bt Cleveland 4-1
2016: Cleveland bt Golden State 4-3
2015: Golden State bt Cleveland 4-2
2014: San Antonio bt Miami 4-1
2013: Miami bt San Antonio 4-3
2012: Miami bt Oklahoma City 4-1
2011: Dallas bt Miami 4-2
2010: Los Angeles Lakers bt Boston 4-3
2009: Los Angeles Lakers bt Orlando 4-1
2008: Boston bt Los Angeles Lakers 4-2
Kill%20
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The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 240hp at 5,500rpm
Torque: 390Nm at 3,000rpm
Transmission: eight-speed auto
Price: from Dh122,745
On sale: now
BORDERLANDS
Starring: Cate Blanchett, Kevin Hart, Jamie Lee Curtis
Director: Eli Roth
Rating: 0/5
UAE currency: the story behind the money in your pockets
SPEC%20SHEET%3A%20NOTHING%20PHONE%20(2)
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MIDWAY
Produced: Lionsgate Films, Shanghai Ryui Entertainment, Street Light Entertainment
Directed: Roland Emmerich
Cast: Ed Skrein, Woody Harrelson, Dennis Quaid, Aaron Eckhart, Luke Evans, Nick Jonas, Mandy Moore, Darren Criss
Rating: 3.5/5 stars
ONCE UPON A TIME IN GAZA
Starring: Nader Abd Alhay, Majd Eid, Ramzi Maqdisi
Directors: Tarzan and Arab Nasser
Rating: 4.5/5
How to donate
Send “thenational” to the following numbers or call the hotline on: 0502955999
2289 – Dh10
2252 – Dh 50
6025 – Dh20
6027 – Dh 100
6026 – Dh 200
Profile
Name: Carzaty
Founders: Marwan Chaar and Hassan Jaffar
Launched: 2017
Employees: 22
Based: Dubai and Muscat
Sector: Automobile retail
Funding to date: $5.5 million
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Intercontinental Cup
Namibia v UAE Saturday Sep 16-Tuesday Sep 19
Table 1 Ireland, 89 points; 2 Afghanistan, 81; 3 Netherlands, 52; 4 Papua New Guinea, 40; 5 Hong Kong, 39; 6 Scotland, 37; 7 UAE, 27; 8 Namibia, 27
COMPANY%20PROFILE
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The specs: 2019 BMW X4
Price, base / as tested: Dh276,675 / Dh346,800
Engine: 3.0-litre turbocharged in-line six-cylinder
Transmission: Eight-speed automatic
Power: 354hp @ 5,500rpm
Torque: 500Nm @ 1,550rpm
Fuel economy, combined: 9.0L / 100km
HIV on the rise in the region
A 2019 United Nations special analysis on Aids reveals 37 per cent of new HIV infections in the Mena region are from people injecting drugs.
New HIV infections have also risen by 29 per cent in western Europe and Asia, and by 7 per cent in Latin America, but declined elsewhere.
Egypt has shown the highest increase in recorded cases of HIV since 2010, up by 196 per cent.
Access to HIV testing, treatment and care in the region is well below the global average.
Few statistics have been published on the number of cases in the UAE, although a UNAIDS report said 1.5 per cent of the prison population has the virus.
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