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Highlights:
- Dubai Investment Fund might invest in five renewable energy projects across Europe and Australia.
- In Australia, two solar energy projects are likely to be funded.
- In Europe, DIF would fund one wind energy and one solar energy project.
One of the largest independent international asset and investment fund managers, Dubai Investment Fund (DIF), has announced that it will invest in five renewable energy projects across Australia and Europe.
DIF has announced this investment in renewable energy projects with an intent to expand its investment strategies – to incorporate clean and environmentally friendly technologies. DIF said that its importance would increase in the future.
Details of five projects
According to the information shared by DIF, the projects that the group will fund would include various communities and regions.
The company would fund two Australian start-ups that are solar power plants for the local communities. These solar power plants will utilise the region's weather conditions to boost the energy supply. The project is expected to generate approximately 300 megawatts of solar energy in the initial stage.
In Europe, two projects will be funded. One of them is an innovative wind power plant located in Germany. Another one is a solar power plant located in Spain. These projects are anticipated to exceed 215 MW each.
The fifth project is dedicated to refining energy storage methods. To expand the alternative source of energy, effective and safe storage is an integral part, said DIF. In this project, the energy storage with 100 MW of capacity will be employed along with Australia and Europe's solar and wind power plants.
Noteworthy here is that these projects are geographically and technologically different. Due to this factor, these projects would grow and develop independently. Therefore, increasing the stability of the tentative profits.
Management Commentary
On the investment plans, DIF’s head of global strategy and investment operations, Ryan Smith, said,
About DIF
In 2001, the company was established to manage financial resources via diversification into growth-oriented investments and new asset classes.
DIF claims to be a world-class asset manager and investor. As a global company, the group adheres to commercial and financial disciplines. It has extensive experience investing in different asset classes and economic sectors, such as listed securities, real estate, energy, manufacturing, retail, financial services, media, technology, healthcare, private equity and alternative assets.
The company seeks investment that offers long-term returns as the company looks for sustainable and balanced growth to increase the long-term returns.
