Arjun Infrastructure Partners (AIP), the UK-based independent infrastructure investment advisory company, has acquired Enviromena Power Systems, a portfolio company of Abu Dhabi Future Energy Company (Masdar)
Commenting on the acquisition, Mohamed Jameel Al Ramahi, CEO of Masdar, said, ?This successful acquisition by leading international investors supports the realisation of our overall strategy. We look forward to our continued collaboration with Environmena on renewable projects throughout the region.?
Sami Khoreibi, CEO of Enviromena, acknowledged Masdar?s support as an industry leader for the continued evolution of the energy sector across the region.
?The strategic support and access to capital that AIP brings to the table enhances Enviromena?s position as a service provider and gives us the exciting opportunity to participate as a project stakeholder moving forward,? Khoreibi added.
Surinder Toor, founding partner of AIP, said that the company looks forward to complete this transaction and become part of the clean energy in the Middle East and North Africa.
?We are firm believers in the solar opportunity presented in the region, and see Enviromena as the ideal platform to facilitate our strategy to deploy capital into renewable assets,? Toor explained.
In order to access direct infrastructure investments, AIP has partnered with institutional investors.
The UAE-based Enviromena develops, deploys and operates clean energy solutions throughout the MENA region. The company has installed more than 17,000 solar systems, which represents one of the largest portfolios of solar rooftops in the region.
Enviromena has more than 175MW worth of projects in operation and a further 500MW under construction.
