Abu Dhabi’s climate finance fund ALTÉRRA is investing to meet long-term energy demand and has a robust pipeline of potential deals, CEO Majid Al-Suwaidi said at Semafor World Economy in Washington, DC. The $30 billion fund has announced one investment since the Iran war began and the conflict’s energy shock backs up ALTÉRRA’s core argument. “The trends are clear,” Al-Suwaidi said, with electricity needed for AI, population growth, and economic development all driving massive demand for energy. Renewables are today “the cheapest and fastest form of energy you can deploy,” he said.

Al-Suwaidi would like ALTÉRRA to be known for going after opportunities beyond wind and solar, adding that its investment committee approves deals based on not just commercial potential but their impact on emissions reduction too. As an example, he cited the fund’s investment last month in Wireless Logic, a UK-based Internet of Things firm that helps to optimize EV charging infrastructure, agriculture, and industrial machinery.