Abu Dhabi, UAE; November 29, 2017 – Enviromena Power Systems (Enviromena), a portfolio company of Masdar, Abu Dhabi Future Energy Company, has been successfully acquired by Arjun Infrastructure Partners (AIP).
AIP is a UK-based independent infrastructure investment advisory company. It partners with institutional investors, mainly pension plans, to access direct infrastructure investments.
UAE-based Enviromena develops, deploys and operates clean energy solutions throughout the MENA region. With a project footprint spanning nine countries, the company has installed more than 17,000 solar systems, representing the largest portfolio of solar rooftops in the region. The company has over 175MW worth of projects in operation and a further 500MW under construction.
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, said: “A key part of our mandate at Masdar is to help catalyse the Abu Dhabi renewable energy sector. 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, Chief Executive Officer of Enviromena, said: “We would like to thank Masdar for its support as an industry leader and shareholder. Enviromena was founded ten years ago, and today’s announcement is a significant milestone in the continued evolution of the regional sector.”
“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: "We are very excited to complete this transaction and become part of the incredible story of clean energy in the Middle East & 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.”
Established in 2007 by founding management Sami Khoreibi, Erik Voldner and Sander Trestain, Enviromena develops, deploys and operates clean energy solutions throughout the MENA region.
In 2009, the company completed the Middle East’s first utility-scale solar PV power plant, a 10 MW system at Masdar City in Abu Dhabi. Today, Enviromena has deployed over 17,000 solar power systems, with over 175 MW of projects under operation and a further 500 MW being deployed. With operations in the UAE, Jordan, Egypt, Morocco, Mauritania, Oman, Qatar and Kuwait, the company has the largest footprint of clean energy projects in the MENA region.
Enviromena has the largest portfolio of rooftop solar projects in the GCC, focusing on developing and owning renewable power producing assets. The company remains committed to innovative clean energy solutions, including utility-scale storage and hybrid solar plants.
Masdar is Abu Dhabi’s renewable energy company which works to advance the development, commercialisation and deployment of clean energy technologies and solutions. The company serves as a link between today’s fossil fuel economy and the energy economy of the future. Wholly owned by the Mubadala Investment Company, the strategic investment company of the Government of Abu Dhabi, Masdar is dedicated to the United Arab Emirates’ long-term vision for the future of energy and water.
Tel enquiries in Arabic: +971 2 653 3333
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