Abu Dhabi sovereign investor Mubadala Investment Company is investing US$200m (€172m) to own part of a 504MW subsea electricity interconnector between the UK and Ireland.
In March last year, infrastructure fund manager Equitix and Baltic Cable agreed to buy Greenlink from Partners Group in a deal worth over €1bn. Mubadala said it has acquired US$200m of Equitix’s stake.
Greenlink is a high-voltage subsea interconnector spanning approximately 190km between Ireland and Great Britain. It includes cables connecting EirGrid’s Great Island substation in County Wexford, Ireland to National Grid’s Pembroke substation in Pembrokeshire, Wales.
Karim El Jazzar, head of Europe and MENA, infrastructure, Mubadala, said: “This investment reflects our continued focus on high-quality infrastructure assets that are integral to the functioning of modern economies, including those enabling more connected and efficient energy systems.
“Greenlink is a strong example of infrastructure that combines strategic relevance with a clear and sustainable economic value. As power markets evolve, interconnectors are becoming increasingly important in supporting cross-border electricity flows and facilitating the integration of renewable energy and grid stability.”
Achal Bhuwania, CIO at Equitix, said: “We are pleased to partner with Mubadala on this investment in Greenlink, which reflecting our shared focus on high-quality, strategically important infrastructure. Bringing together two investors with deep infrastructure expertise, strengthens the platform and positions it well to support the evolving needs of interconnected power markets.
“Greenlink is a critical asset, enhancing energy resilience, enabling cross-border connectivity and supporting the transition to a lower-carbon energy system.”
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