Mubadala Capital Invests $2.5 Billion in Brazil's Sustainable Aviation Fuel Plant to Reinforce Renewable Energy Production

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 Mubadala Capital, a state-owned investment firm based in the United Arab Emirates (UAE), has inked a deal to invest $2.5 billion in Brazil over the next decade. The investment will be made through Mubadala's arm in Brazil, Acelen, and will go towards building a sustainable aviation fuel and kerosene plant in the northeastern state of Bahia.



The project, set to begin production in 2026, will produce 1 billion liters of hydrotreated vegetable oil per year, a diesel-like fuel made without fossil resources. This investment aims to reinforce Brazil's role as a strategic provider of renewable fuels by capitalizing on its natural resources. The country already has a unit that produces soy-based biodiesel, which was acquired by Mubadala in 2021.


Acelen anticipates that all of its renewable fuel production will be exported, as there is still no regulation in the Brazilian market that makes domestic sales possible. The agreement was signed during a meeting between Brazil's President Luiz da Silva and UAE's President Mohammed bin Zayed in Abu Dhabi, within a framework of signings aimed at strengthening trade, investment, and tourism exchange between the two countries.


UAE's Minister of Economy Abdullah Al-Marri said that the Emirati-Brazilian partnerships are based on solid foundations of friendship and respect, with mutual interests. "The total non-oil foreign trade for the year 2022 between the UAE and Brazil crossed the $4 billion mark, a growth of 32 percent from more than $3 billion in 2021," he stated. He added that despite the significant investments and cooperation between the two countries, there are still vast untapped opportunities in the sustainability space.


This project is a significant step towards a sustainable future, as it provides a renewable energy source for the aviation industry. The UAE is due to host the COP28 UN climate talks later this year, and Brazil is a candidate to host the 2025 edition. The two countries have agreed to work together to encourage ambitious climate action from the rest of the world.


In conclusion, the $2.5 billion investment in Brazil's sustainable aviation fuel and kerosene plant by Mubadala Capital is an excellent example of how partnerships between countries can drive sustainable solutions to global challenges. As the world continues to face the impacts of climate change, it is essential to accelerate our transition towards a sustainable future, and this project is a significant step towards that goal.

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