Stonepeak, a leading alternative investment firm focused on infrastructure and real assets, has unveiled WahajPeak, its first renewable energy platform in the Middle East.
The platform aims to acquire and develop high-quality utility-scale renewable energy projects, including solar, wind, and battery storage, across the Gulf Cooperation Council (GCC) and the wider Middle East.
WahajPeak’s launch comes amid strong regional policy support for decarbonisation, energy diversification, and grid modernisation, providing a favorable environment for renewable energy growth.
Stonepeak's previous initiatives include the Asia Energy Storage Platform, Peak Energy, and Synera Renewable Energy, all focused on renewable asset development, ownership, and operation in Asia.
In North America, the firm developed Madison Energy Investments, a distributed solar platform fully realised in 2023.
The MENA portfolio
More recently, Stonepeak launched JouleTerra, a European renewables land aggregation platform, and Longview Infrastructure, a North American transmission investment platform.
Through its platforms and investments, Stonepeak currently manages 10.4 GW of renewable energy capacity across wind, solar, and battery storage projects that are operational, under construction, or in development.
WahajPeak marks the firm’s first dedicated renewable initiative in the Middle East, reinforcing Stonepeak’s commitment to driving the region’s clean energy transition while leveraging its global experience in renewable infrastructure development.
Mothana Qteishat, who will lead the platform, said, “Governments across the Middle East and North Africa are targeting the deployment of approximately 175 GW of renewable energy capacity by 2030, creating a rapidly growing need for reliable, utility-scale infrastructure. With the WahajPeak team’s strong execution track record and Stonepeak’s deep experience in renewable energy investment and platform building, we are well-positioned to meet this demand. We’ve designed WahajPeak to scale and adapt over time, in step with the region’s evolving energy landscape, and we are excited to work closely with our stakeholders to seize the significant opportunities ahead.”
Hajir Naghdy, senior managing director and head of Asia and the Middle East at Stonepeak, said, “Stonepeak has solidified its presence in the Middle East through dedicated boots on the ground in Riyadh and Abu Dhabi, and our previously announced partnership with The Arab Energy Fund. With the establishment of WahajPeak, we are furthering our commitment to the region. We look forward to leveraging our local presence and significant experience building and scaling pan-regional platforms as we work with Mothana and team to grow WahajPeak.”
Ryan Chua, senior managing director at Stonepeak, added, “WahajPeak is a great example of Stonepeak’s approach to platform creation—combining exceptional talent with long-term capital, and our sector capabilities and network, to deliver essential infrastructure—making it a natural fit for our global renewables strategy. We have the utmost confidence in Mothana and the WahajPeak team, whose extensive experience and expertise in the region will be invaluable as we look to support the region’s energy transformation.”
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