Dubai: Abu Dhabi's Mubadala will be picking up a stake in Asper Investment Management’s 'Dorothea' investment vehicle, which is building a network of district heating services in the Netherlands. Dorothea will deploy more than 500 million euros in this venture.
Asper is a leading European investment management firm specialized in sustainable real assets, with a track record in district heating since 2014. Other investors in Dorothea include APG and the European Investment Bank. (Mubadala has not disclosed its exact exposure in Dorothea.)
Clear targets
Dorothea’s newly installed heating capacity is expected to deliver over 2 million GJ of sustainable heat by using clean-energy sources, including a combination of geothermal, residual heat and locally-sourced biomass. This builds on the Netherlands’ efforts to increase renewable energy sources penetration from 7 per cent today to 100 per cent by 2050.
Over the next 30 years, 7 million households in the country will switch to CO2 free heating solutions to meet these objectives.
