Abu Dhabi – Mubasher: UAE’s Masdar Clean Energy on Thursday announced that its subsidiary Enviromena Power Systems was fully acquired by Arjun Infrastructure Investment Partners (AIP).
Although the deal’s consideration was not unveiled, some information revealed that it was an attractive amount in the double-digit, informed sources told Mubasher.
“This successful acquisition by leading international investors supports the realisation of our overall strategy,” said Mohamed Al Ramahi, Masdar’s CEO.
“AIP was using this investment as a platform to get into the region’s growing renewable energy market,” Enviromena’s CEO Sami Khoreibi commented.
After the acquisition Enviromena will maintain its identity and activities, while seeking to realise a huge expansion, according to a company statement.
“We will have the capacity to deploy over 100 megawatts, with a ramp-up period, over the next couple of years in commercial and industrial projects,” Khoreibi concluded.
