Dorothea aims to develop a pipeline of large-scale sustainable heating networks in the Netherlands
by Zainab Mansoor
December 15, 2020
Abu Dhabi-based Mubadala, will be buying a stake in Asper Investment Management’s (Asper) investment vehicle, it confirmed on December 15.
Dorothea investment vehicle (Dorothea) aims to deploy over Dhs2.1bn (€500m) to build a network of district heating services across the Netherlands. Dorothea’s newly installed heating capacity is expected to provide over 2 million Gigajoule (GJ) of sustainable heat by using clean-energy sources including a combination of geothermal, residual heat and sustainable biomass.
This complements the Netherlands’ efforts to increase renewable energy sources penetration from the current 7 per cent 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 goals.
Highlights
Mubadala, the Abu Dhabi-based sovereign investment company, today announced that it will be taking a significant stake into Asper Investment Managementâs (Asper) Dorothea investment vehicle (Dorothea).
Mubadala, the Abu Dhabi-based sovereign investment company, today announced that it will be taking a significant stake into Asper Investment Managementâs (Asper) Dorothea investment vehicle (Dorothea).
Dorothea is targeting to deploy more than AED 2.1 billion (⬠500 mn) into building a network of district heating services across the Netherlands. Asper is Europeâs leading independent investment management firm specialized in sustainable real assets with investment vehicles dedicated to energy transition and a track record in district heating since 2014. Other investors in Dorothea include APG and the European Investment Bank.
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Other investors in Dorothea include APG and the European Investment Bank, Mubadala said.
District heating networks are a common feature in many European cities. These are typically networks of hot water pipes running underneath buildings, many of which are now being powered by renewable energy sources as countries look to cut emissions.
Dorothea’s newly installed heating networks are expected to deliver over 2 million gigajoules (GJ) of sustainable heat by using clean-energy sources and are expected to help the Netherlands meet its target of generating all of its energy from clean sources.
The country aims to increase its energy share from renewable power sources to 100 per cent by 2050 from 7 per cent currently. Close to 7 million households in the Netherlands are expected to switch to CO2-free heating solutions to meet these objectives.
Mubadala to invest in Asper’s $571m Dorothea investment vehicle
ABU DHABI, December 15, 2020 Mubadala, the Abu Dhabi-based sovereign investment company, today announced that it will be taking a significant stake into Asper Investment Management’s Dorothea investment vehicle. Dorothea is targeting to deploy more than AED2.1 billion ($571 million) into building a network of district heating services across the Netherlands. Asper is Europe’s leading independent investment management firm specialised in sustainable real assets with investment vehicles dedicated to energy transition and a track record in district heating since 2014. Other investors in Dorothea include APG and the European Investment Bank. 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 sustainable, locally-sourced biomass. This builds on the Netherla