Mubadala Acquires $200 Million Stake In Greenlink Interconnector, Expanding European Energy Infrastructure Portfolio

Abu Dhabi-based sovereign investor Mubadala Investment Company has strengthened its presence in Europe’s energy infrastructure sector by acquiring a $200 million stake in Greenlink, a major electricity interconnector linking Ireland and Great Britain. The stake was purchased from infrastructure investor Equitix, which continues to operate the project in partnership with Baltic Cable.

The investment highlights the growing interest of Gulf-based sovereign wealth funds in Europe’s utility and energy transition assets. Such projects are increasingly attracting long-term investors due to their stable returns and important role in supporting cleaner energy systems.

Greenlink is a 504-megawatt subsea electricity interconnector located beneath the Irish Sea. The project spans approximately 190 kilometers and connects the Great Island substation in County Wexford, Ireland, with the Pembroke substation in Wales, Great Britain. Built using high-voltage direct current (HVDC) technology, the interconnector is designed to efficiently transmit electricity over long distances. The system has the capacity to supply power to around 380,000 homes and entered commercial operation in early 2025.

The project operates under a strong regulatory framework supported by authorities in both countries. It is regulated by the Office of Gas and Electricity Markets (Ofgem) in Great Britain and the Commission for Regulation of Utilities (CRU) in Ireland. This dual regulatory structure provides long-term revenue certainty for investors and enhances the project’s attractiveness as a stable infrastructure asset. Greenlink has also been recognized by the European Union as a Project of Common Interest, reflecting its strategic importance to regional energy security.

One of Greenlink’s key benefits is its ability to allow electricity to flow in both directions between Ireland and Great Britain. This helps balance electricity supply and demand across the two markets while improving grid reliability. The interconnector also supports the integration of renewable energy sources such as wind and solar power by enabling excess electricity to be transferred where it is needed most. As a result, the project plays an important role in supporting decarbonization efforts and strengthening energy security in the region.

For Mubadala, the Greenlink acquisition marks its third significant investment in the United Kingdom’s power sector. The company has previously invested $325 million in the Hornsea 3 offshore wind project and has also supported battery storage company Zenobe. Both Mubadala and Equitix stated that the partnership aligns with their long-term infrastructure investment strategies and will help support the evolving needs of Europe’s interconnected energy market.