Mubadala is a sovereign investor managing a diverse portfolio of assets in the U.A.E. and globally, with over $302 billion in assets under management in 2023. In May 2024, Mubadala made its first renewable investment in Japan in PAG’s Asia Pacific renewable energy platform, PAG REN I, primarily focused on supplying solar power to corporations across Japan. In December 2023, Mubadala announced its investment in Zenobē, a key player in fleet electrification and battery storage solutions, to power 4,000 electric buses, trucks, and commercial vehicles by 2026. In October 2023, Mubadala issued its first-ever green bond, for $750 million.