Mubadala made a cornerstone investment in PAG’s Asia-Pacific renewable energy platform, PAG REN I, marking its first renewable energy investment in Japan.

The platform is primarily focused on delivering solar power to corporate clients and plays a key role in supporting Japan’s clean energy ambitions.

PAG REN I will operate across developed Asia Pacific economies, with a strong focus on Japan. The platform will draw on PAG’s decades of experience in Japanese real estate and the technical expertise of its in-house team, PAG Renewables. It is positioned to support Japan’s goal of installing 108 gigawatts of solar capacity by 2030.

The platform will enable corporate power purchase agreements that allow businesses to directly source long-term renewable electricity. Japan is home to the world’s second-largest number of RE100 companies after the United States, highlighting strong demand for clean energy among corporates.

For Mubadala, this investment reflects a strategy to support national energy resilience and decarbonization across major economies. The platform will help reduce Japan’s dependence on imported energy while providing reliable, locally sourced alternatives.

The transaction complements Mubadala’s growing clean energy portfolio across Asia, Europe, and North America, including investments in Tata Power Renewables and Skyborn Renewables, the world’s largest private offshore wind developer.