The Dubai Investment Fund (DIF) has announced plans to invest in five renewable energy projects spread throughout Europe and Australia. The $320 billion corporation will invest in two solar power projects for regional towns in Australia. The solar installations are anticipated to produce about 300 MW of energy in their initial stages.

DIF will invest in two energy projects in Europe: a wind farm in Germany and a solar farm in Spain, both of which are anticipated to have capacities greater than 125 MW. Along with the other wind and solar power projects, the company will also invest in a 100 MW energy storage facility. The most recent investments are a part of DIF’s long-term strategy to support “promising and innovative” research projects.

Founded in 2001, DIF provides private equity, investment and asset management for more than 7,300 private and institutional investors across 61 countries. The company’s areas of activity include retail, manufacturing, energy, financial services, healthcare, technology, media, real estate, listed securities and alternative assets.