Abu Dhabi’s state investor Mubadala has invested in Yondr Group, a London-based data centre developer, marking its latest move into a sector expected to benefit from rising demand for cloud services and artificial intelligence (AI).
Mubadala stated that its investment, alongside Apollo Global Management, will support Yondr’s ambitious expansion plans. Yondr has a total contracted and reserved capacity of 878 megawatts (MW), with 58 MW currently operational.
This investment further broadens Mubadala’s data centre portfolio, which includes prior investments in Aligned Data Centers and Princeton Digital Group. Additionally, Mubadala has invested in global fibre network providers such as CityFibre in the UK and GlobalConnect in Northern Europe.
Mounir Barakat, Senior Executive Director of Digital Infrastructure at Mubadala, highlighted the significance of this investment due to the rising demand for hyperscale data centres driven by AI, 5G, and IoT.
Yondr aims to achieve net zero greenhouse gas emissions by 2030, focusing on energy-efficient technologies and renewable energy. Mubadala’s assets under management rose by 9.5% in 2023 to $302.2B (AED 1.11T). The fund is the second-largest state fund in Abu Dhabi and invested AED 89B across various sectors in 2023, maintaining a similar portfolio distribution as the previous year.
