Mubadala Capital, a fully owned asset management arm of UAE’s sovereign wealth fund Mubadala Investment, is reportedly planning to invest approximately $13.5bn in a biofuels project in Brazil over the next 10 years.
Financial Times also stated that each module will comprise a new biorefinery capable of processing 20,000 barrels of fuel daily, along with supporting infrastructure and planted areas designated for cultivating the input crop.
Under its flagship scheme, Mubadala Capital intends to produce renewable diesel as well as sustainable aviation kerosene primarily by utilising non-food plant matter in Brazil.
“Brazil is to agriculture what Abu Dhabi is to oil.”