UAE’s Enviromena bought by UK infrastructure fund

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Enviromena's !0MW solar plant in Masdar City, Abu Dhabi.

UAE-based, Enviromena Power Systems, a clean energy developer based in Abu Dhabi, has been bought by UK-based, Arjun Infrastructure Partners (AIP).

Sami Khoreibi, CEO of Enviromena, said: “This transaction comes at a perfect time for Enviromena. The opportunity to deploy solar assets throughout MENA is happening now.”

“The strategic support and access to capital that AIP brings to the table enables us to enhance our position as the market leader,” he added.

To date Enviromena has installed 17,000 solar systems bringing its capacity under operation to over 175MW. It also has 500MW of projects under construction.

Surinder Toor, founding partner of AIP, said the fund believes in the solar opportunity provided by the region and considers Enviromena as the ideal platform to fulfil its strategy to deploy capital into renewable assets.

Founded in 2015, API is an independent infrastructure investment advisory company which until now has primarily been focused on European assets. It has £500 million (US$673 million) under management.

8 March 2022
As Solar Finance & Investment enters its ninth year, we sit on the cusp of a new power market with solar at its heart. The 2022 edition of the event will build on our years of expertise and relationships to bring investors and lenders together with top developers. Connect with leaders in the field and use exclusive insights to drive investment and development decisions for the future. Meet new and existing project partners at the largest gathering of European solar investors and lenders.

Read Next

January 24, 2022
The average cost of forecasting errors in the US is lower than previously thought at less than US$1/MWh, according to a study by Berkeley Lab that employed a new, publicly available method to examine the practice.
January 20, 2022
US residential solar lender Dividend Finance is to be acquired by Ohio-based banking company Fifth Third.
January 18, 2022
Trina Solar’s tracker manufacturing unit TrinaTracker has launched a 1P single-row tracker, dubbed Vanguard.
January 17, 2022
Oman has signed an agreement with energy major bp that will support the potential development of multiple gigawatts of renewables and green hydrogen in the Middle Eastern country by 2030.
January 13, 2022
Reliance Industries has signed a Memorandum of Understanding (MoU) with the government of Gujarat for a total investment of INR5.955 lakh crore (US$80 billion) over 10-15 years to establish 100GW of renewables and set up green technology manufacturing facilities in the state.
January 11, 2022
Algeria has launched a tender process to support the deployment of solar PV projects in the country with a total capacity of 1GW.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
February 23, 2022
London, UK
Solar Media Events
March 8, 2022
London, UK
Solar Media Events
March 23, 2022
Austin, Texas, USA
Solar Media Events
March 29, 2022
Lisbon, Portugal
Solar Media Events
April 25, 2022
Berlin, Germany