Abu Dhabi-based global investor Mubadala Investment Company (Mubadala) and Schneider Electric, the global leader in the digital transformation of energy management and automation have agreed to collaborate on several sustainability initiatives in the United Arab Emirates and globally.
The agreement which was signed by Musabbeh Al Kaabi, Chief Executive Officer of UAE Investments at Mubadala Investment Company, and Caspar Herzberg, Middle East and Africa President at Schneider Electric during the Abu Dhabi Sustainability Week will allow the organizations to engage in multiple collaboration opportunities such as Energy as a Service solutions in Europe, the Middle East, Africa and elsewhere globally, as well as manufacturing opportunities in the UAE.
Firms will also pursue the development of education and research initiatives with leading academic institutions in Abu Dhabi, and explore additional areas for collaboration in clean energy and sustainability.
“This agreement is an important development in Mubadala’s strategy of advancing the development, commercialization and deployment of clean energy solutions and innovative technologies globally as well as adding to Abu Dhabi’s position as a global center of excellence in the sector.”
“Through Masdar and other energy and technology-focused companies in our portfolio, in addition to our partnerships with world-class companies, like Schneider Electric, we are building on the UAE’s strong energy heritage and playing a significant role in advancing the transition to lower carbon-intensive solutions required to meet the world’s growing energy needs.”
Speaking on the occasion, the Middle East and Africa President at Schneider Electric Mr. Caspar Herzberg remarked that “Partnerships are fundamental to the goal of achieving a greener, more sustainable world, and Mubadala and subsidiaries such as Masdar have pioneered new approaches to sustainable business.”
“We believe that, by combining our areas of expertise, we will be able to make significant progress in the space of clean energy and energy efficiency and scale up these ideas to benefit organizations and societies globally,” Mr. Herzberg added.