Adenium Energy Capital signs US$10 million investment deal with Enerwhere

Investment company Adenium Energy Capital has signed an agreement that will see the corporation invest US$10 million in solar-hybrid power plant provider Enerwhere’s portfolio of mobile solar power assets.

Enerwhere will utilise these assets in order to generate temporary power for real estate, development and industrial areas in the Middle East.

The investment will help develop 10MW of PV systems, cultivating enough energy to power thousands of staff at temporary lodges, constructions sites, mines and refugee camps.

Daniel Zywietz, chief executive officer of Enerwhere, said: “The development of the electricity grid is lagging behind economic growth in many growing communities and industrial areas in the Middle East, causing many commercial and industrial users to rely on expensive diesel generators to keep the lights on and machines running.

“Our solar-diesel hybrid systems can dramatically reduce fuel consumption, and therefore, the operating cost of these diesel mini-grids, while providing the same or even better reliability.”

Based out of Dubai, Enerwhere developed it first project on the World Islands in Dubai in early 2014, providing energy to a construction site. Enerwhere recently locked up a contract with Tourism Development & Investment Company (TDIC) on Saadiyat Island in Abu Dhabi, with a 5MW hybrid system supplying 8,000 staff members with electricity for nine months.

Jeremy Crane, chief operating Officer of Adenium noted: “After looking at a range of potential transportable solar solutions, we identified Enerwhere’s solution as, by far, the most suitable in terms of transportability, robustness, ease of use, and cost-effectiveness, all of which are essential in the temporary power sector”.