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Qatar to invest in leading German renewable energy provider

Mansoor Al-Mahmoud, chief executive officer of Qatar Investment Authority, speaks during a session at the Qatar Economic Forum in Doha, Qatar, on Tuesday, June 21, 2022 [Christopher Pike/Bloomberg via Getty Images]
Mansoor Al-Mahmoud, chief executive officer of Qatar Investment Authority, speaks during a session at the Qatar Economic Forum in Doha, Qatar, on Tuesday, June 21, 2022 [Christopher Pike/Bloomberg via Getty Images]

The Qatar Investment Authority (QIA) announced yesterday that it has agreed to invest €2.43 billion ($2.43 billion) in the German multinational energy company RWE AG (RWE) to support the company's accelerated "Growing Green" strategy, according to Qatar News Agency (QNA).

QIA CEO, Mansour Bin Ibrahim Al Mahmoud, affirmed his support for RWE's vision to be a leader in the global renewable energy market.

"QIA is actively investing in companies that can have a positive impact on society and shape the future of sustainability by making energy transition a reality," he said.

In turn, RWE AG CEO Markus Kreber welcomed QIA's support for the company's accelerated growth ambitions, saying it reflects the company's commitment to being one of the world's leading drivers of global energy transition.

The Qatar Investment Authority is a sovereign wealth fund of Qatar, specialised in domestic and foreign investment.

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