Abu Dhabi’s Mubadala Investment Company has joined forces with a consortium of international investors to acquire Germany-based Techem Energy Services in a $7.9 billion (AED 29 billion) deal, aiming to accelerate decarbonisation in the global real estate sector.
Announced on Monday, the acquisition involves Mubadala alongside Switzerland’s Partners Group, Singapore’s sovereign wealth fund GIC, and U.S.-based TPG Rise Climate. The transaction is expected to close in the second half of 2025.
Founded in 1952, Techem is a leading provider of energy efficiency solutions for the real estate sector, offering services that reduce energy consumption, lower costs, and cut carbon emissions using non-invasive, low-investment technologies. The company currently serves more than 440,000 clients across 18 countries.
Abdulla Shadid, Head of Energy and Sustainability at Mubadala’s private equity platform, described the acquisition as aligned with Mubadala’s long-term strategy of deploying capital to address major global challenges. “Techem is well-positioned to help scale decarbonisation within real estate, one of the world’s most carbon-intensive sectors,” he said.
Buildings are responsible for roughly 60% of carbon emissions in urban areas, according to real estate consultancy JLL. Achieving net-zero targets will require significant energy transformation in this space. In fact, 25 of 32 major global cities studied by JLL aim to make new buildings net-zero by 2030, with 26 committing to fully decarbonised building stock by 2050.
“The decarbonisation of real estate remains a global imperative for sustainable urban living,” Shadid added.
Mubadala, which manages a global portfolio valued at AED 1.2 trillion ($326 billion), continues to play a central role in diversifying Abu Dhabi’s economy away from oil. In 2024, it was named the top sovereign investor globally by Global SWF, surpassing Saudi Arabia’s Public Investment Fund.
The company reported a 9.5% growth in its asset base last year, driven by strategic investments in high-growth sectors such as AI, healthcare, and advanced manufacturing. Its five-year annualised return stands at 10.1%, while investment-related revenue reached AED 109 billion in 2024—a 10% increase from the previous year.
Mubadala’s investment portfolio spans across real estate, life sciences, technology, healthcare, and green energy—solidifying its role as one of the world’s largest backers of sustainable innovation.
This acquisition reinforces Mubadala’s commitment to climate-focused investing, while positioning Techem as a key player in global real estate’s shift toward energy-efficient, low-carbon solutions.
