UAE's Masdar buys 40% stake in $352m Australian project - Arabianbusiness:
Masdar, a subsidiary of Mubadala Investment Company, has made its first investment in Australia after acquiring a 40 percent stake in the country’s second utility-scale waste-to-energy facility.
The company announced at Abu Dhabi Sustainability Week 2020 that under the terms of the investment, Masdar and Abu Dhabi-based advisory and development firm Tribe Infrastructure Group have invested in the via their joint venture holding company, Masdar Tribe Energy Holdings Limited.
Niall Hannigan, chief financial officer of Masdar, and Peter McCreanor, CEO of Tribe Infrastructure Group, signed the agreement .
Financial close on the A$511 million ($352 million) greenfield East Rockingham Resource Recovery Facility, which will be located in the Rockingham Industry Zone, 40km south of Perth in Western Australia, was achieved last month and construction has already started.
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