Mubadala Investment Company, the Abu Dhabi-based sovereign investor, has announced the acquisition of a 2.6% stake in the Anglo-Russian green energy and metals company EN+.

With this buy, Mubadala now has a total share ownership in EN+ of 2.86% on a fully diluted basis. The new block acquisition equates to 16,641,700 of EN+ ordinary shares, the company said.

A global leader in low-carbon aluminium production and renewables, EN+ is listed on the Moscow Stock Exchange, while its GDRs are tradeable on the London Stock Exchange.

Faris Sohail Al Mazrui, Head of Mubadala’s Russia & CIS Investment Program, said: “EN+ has made significant progress in recent years, and is well positioned to generate sustainable value for stakeholders. The company is a market leader in the clean energy and aluminium sectors, and is a welcome addition to Mubadala’s growing and successful portfolio in Russia.”

Mubadala’s $243 billion global portfolio spans six continents with interests in multiple sectors and asset classes, including significant investments in Masdar, a global leader in renewable energy, and Emirates Global Aluminium, a leading aluminium producer.

Lord Barker of Battle, Executive Chairman of the En+ Group, said: “We are pleased to see Mubadala increase their stake in EN+. It is a clear endorsement of the strength of the company’s equity story to attract such a leading global investor.”

“Mubadala, which is committed to investments with positive and lasting impact, provides a further vote of confidence in the Group’s ambitious strategy to lead our sector into the low-carbon economy,” he added.