Mubadala had in April last year joined a consortium that invested $525 million in Tata Power Renewable. Image Credit: Supplied

Dubai: A data center operated by Princeton Digital Group – a company in which Abu Dhabi’s Mubadala has a stake – in India will source clean electricity from Tata Power Renewable Energy Ltd.

PDG and the Tata entity will jointly invest in a captive power plant that will supply to the former’s MU1 data centre in Airoli, Mumbai. The supply agreement extends to 25 years and can be renewed.

In 2022, Mubadala invested $350 million in PDG, which has 21 data centers with a capacity of more than 700MW in six countries. The same year, together with BlackRock Real Assets, Mubadala invested $525 million in Tata Power Renewables - one of key players in India’s energy transition and aims to contribute 30GW by 2030.

“Mubadala is delighted about the partnership between two of our investee companies, PDG and Tata Power Renewables," said Khaled Abdulla Al Qubaisi, CEO for Real Estate and Infrastructure Investments at Mubadala. "Both companies align with our focus on value creation and delivering positive outcomes for society, and our view that digitalization is vital to socioeconomic progress and development.

"By bringing our partners together, we are further supporting the build of sustainable solutions in India, a key strategic partner and market for Mubadala.”

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The first supply of power from the solar plant - located in the Nanded district in the Indian state of Maharashtra - will be generated this month, with additional capacity to come online following the completion of future phases. The solar plant will help PDG’s MU1 with its target to be powered by up to 50 per cent by renewable energy.

“Cloud and digital adoption continue to surge in India leading to unprecedented growth in digital infrastructure," said Vipin Shirsat, General Manager, India, PDG. "This gives us an opportunity to make long term decisions that not only fosters growth and innovation but also solves sustainability.

"Our agreement with Tata Power enables us to offer world-class sustainable data center services to our customers by substituting a substantial part of conventional energy with renewable energy. This partnership is testament to PDG’s commitment to work towards achieving Net Zero for our Scope 1 and Scope 2 emissions by 2030.”