|22 March 2016|

Renewable energy innovators around the world could benefit from a new fund created by Dubai-based private equity firm Abraaj Group worth up to $1 billion.

Themis Energy – a member of the Abraaj Group – will leverage the Group’s local teams, global network, execution capabilities and existing infrastructure team to originate, develop and manage projects from concept stage to operations.

Abraaj’s global strategy is aimed at capturing value throughout the life-cycle of primarily renewable and energy efficiency projects across several sub-sectors and technologies. By establishing Themis as its development arm, Abraaj will be able to support energy infrastructure projects from their inception, unlocking a supply of bankable quality energy assets developed on a proprietary basis.

Sev Vettivetpillai, Partner and Global Head of Abraaj’s Thematic Fund Business, said: “Abraaj’s ambition is to effectively manage capital across a number of energy sub-sectors and through all stages of the energy asset life cycle, from early developments through greenfield to operations. We believe that we can successfully achieve this objective by expanding our scope of activities to include a dedicated focus on project development. We welcome Tas Anvaripour, Marc Mandaba and our new colleagues to Abraaj and are confident that their deep experience of the sector and industry will bring long-term value to all stakeholders.”

Tas Anvaripour, Partner at The Abraaj Group, added: “Successful project development is a critical element to addressing the significant shortfall of energy supply in growth markets. The combination of Themis’ development experience and Abraaj’s investment track record, global networks and local footprint, provides a unique ability to develop and invest in high quality energy assets in growth markets.”