Mubadala buys into UK-Ireland power link with USD 200 mn Greenlink stake

Abu Dhabi sovereign investor Mubadala acquired a USD 200 mn stake in Greenlink, the subsea electricity interconnector linking Ireland and Great Britain, purchasing part of Equitix’s holding in the project it owns alongside Baltic Cable, state news agency Wam reports. The exact size of the purchased stake and Equitix’s post-acquisition holding in the project were not disclosed.

The asset: The investment sees Mubadala gain exposure to a 504 MW high-voltage power link running roughly 190 km beneath the Irish Sea, connecting two electricity markets that had previously operated in near isolation. Power can now flow in either direction, helping balance supply and demand on both sides — particularly useful as both grids absorb more intermittent renewable generation.

Why it matters: Greenlink is an infrastructure project that’s heavily regulated, sitting under dual regulatory oversight: Ofgem in the UK and Ireland’s Commission for Regulation of Utilities. This usually ensures long-duration, predictable revenue streams. The asset sits comfortably within Mubadala’s strategic tilt toward European energy transition assets.

In context

Greenlink is the third UK energy asset Mubadala has moved on in under three years. We covered the fund’s USD 325 mn wager on Ørsted's Hornsea 3 offshore wind farm last month. At the time, we also flagged Zenobe (UK battery storage), Rezolv (Central and Eastern Europe renewables), and Skyborn (offshore wind) as part of the same push.