His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, has met with members of Mubadala’s team in Rio de Janeiro, including Waleed Al Mokarrab Al Muhairi, Mubadala’s Deputy Group CEO, during his official visit to Brazil.
During the meeting, His Highness reviewed the progress of Mubadala’s investments in Brazil, which have contributed to the country’s socioeconomic growth and development over the past 12 years.
Mubadala has been investing in Brazil since 2012, with its subsidiary Mubadala Capital today managing assets under management of $5.7 billion, including $2.5 billion of third-party capital. Invested through three funds, its portfolio includes critical infrastructure projects and major companies, including toll roads, ports, metro lines, and medical universities.
His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan emphasised that UAE investments in Brazil represent a key factor in strengthening the economic ties between the two nations, and highlighted that these investments underscore the UAE’s prominent role as a global economic partner.
His Highness also praised Mubadala’s progress in its various projects and investments in Brazil, and emphasised the importance of further expanding the company’s initiatives to include additional key sectors, with the aim of diversifying its investment portfolio and contributing effectively to Brazil’s sustainable economic and social development.
Waleed Al Mokarrab Al Muhairi, Deputy Group CEO at Mubadala, said: “I extend my sincerest gratitude to His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, for his unwavering commitment to strengthening the position of UAE investment companies around the world. It was a privilege for our team to showcase Mubadala’s achievements and progress in Brazil since entering the market in 2012. We are proud that our investments directly contribute to the development of key sectors within South America’s largest economy, and we plan to significantly increase the size of our Brazilian portfolio over the coming years.”
One potential future initiative discussed during the meeting was a commitment by Acelen Renewables, the Mubadala Capital-owned renewable energy company, to construct five large-scale biofuel refineries in Brazil. Once launched, the ambitious project could create up to 400,000 jobs for local communities, representing a groundbreaking commitment to sustainability for the country.
The first refinery, expected to begin production by 2027, is located in the Brazilian state of Bahia and requires 80 million macaúba trees to be planted on degraded land. The trees would then be cultivated, harvested, and crushed to produce 20,000 barrels per day of renewable fuels, including sustainable aviation fuel (SAF).
The macaúba is a plant native to Brazil with a high energy yield, meaning that the renewable diesel the project produces is projected to emit up to 80 percent less CO2 than fossil diesel. In addition, planting 200,000 hectares of trees would capture 60 million tons of CO2 over 20 years.
