Dubai: Abu Dhabi’s sovereign wealth fund, Mubadala, is part of an international consortium acquiring Techem, a German-based digital energy solutions provider for the real estate industry, in a deal valued at Dh29 billion (6.7 billion euros).
Headquartered in Germany, Techem serves over 440,000 customers across 18 countries, supporting more than 13 million properties globally. The company specializes in boosting energy efficiency and reducing consumption, costs, and carbon emissions using cost-effective, non-invasive technologies. Techem currently has 62 million devices installed, contributing significantly to the long-term decarbonisation of the real estate sector, which is responsible for about 40% of global CO₂ emissions.The investment group includes Partners Group (a major player in global private markets), GIC (Singapore’s sovereign wealth fund), and TPG Rise Climate, the climate-focused investment strategy of TPG’s global impact platform.
“The decarbonisation of the real estate sector remains a global priority in the pursuit of sustainable urban living,” said Abdulla Mohamed Shadid, Head of Energy and Sustainability at Mubadala’s Private Equity Platform. “As a digital-first leader in sub-metering services, Techem is well-equipped to advance this transition and enhance the energy performance of buildings.”
