Mubadala Investment Company, an Abu Dhabi-based global investor, today announced a significant minority investment in Power Factors, a leading renewable energy management suite (REMS) provider, alongside existing investor Vista Equity Partners.
Through this investment, Mubadala will enable Power Factors' continued growth, innovation, and global expansion as a leader in the renewable energy sector, Mubadala said.
Power Factors' Unity platform provides renewable energy operators with a single, unified suite for monitoring, analytics, technical asset management, and commercial asset management across their entire portfolios. The company currently supports 70% of the world's top 50 renewable energy producers, with over 600 customers across 18,000 sites in more than 70 countries, managing a total capacity of 310 gigawatts of wind, solar, and energy storage.
“Mubadala’s commitment to renewables spans more than two decades, beginning with establishing Masdar, and today’s investment in Power Factors reinforces our conviction in this increasingly vital sector.” said Abdulla Mohamed Shadid, Head of Energy and Sustainability, Private Equity at Mubadala.
“As renewables portfolios scale globally, software-driven monitoring, analytics, and intelligent control become critical for optimising performance, value and yield. We are pleased to be joining Vista in supporting Power Factors’ next phase of growth and cementing their position as the world’s leading such platform.”
The investment will support the continued advancement of the Unity REMI: Renewable Energy Management Intelligence across the entire suite of products. REMI’s AI transforms how operators understand, investigate, and act on their operational data. Funds will also accelerate Power Factors' monitoring and control capabilities for energy storage, supporting the development of energy storage systems and hybrid energy systems that provide essential services for the electric grid, it said.
“Renewable energy portfolios are becoming larger, more integrated, and more challenging to manage at scale, and our customers need a unified, intelligent platform that can support that reality,” said Julieann Esper Rainville, Chief Executive Officer of Power Factors. “This investment helps us fulfill the next step in our mission to create the world’s leading AI-driven suite of renewable energy management solutions, giving our customers what they need to succeed as their portfolios grow. Mubadala will be an excellent partner to support us as we build the future of renewable energy operations.”
“Since our initial investment, we’ve seen Power Factors become central to how renewable energy operators run and manage their portfolios,” said Patrick Severson, Senior Managing Director and Co-Head of the Foundation Fund at Vista Equity Partners. “Mubadala brings deep experience working with global technology and infrastructure businesses. We are excited to partner with them to support continued innovation at Power Factors and advance the company’s leadership in renewable energy management.” - TradeArabia News Service
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