Funding companies to collaborate on vitality transition initiatives in Center East
Dwelling Tremendous Gasoline Funding companies to collaborate on vitality transition initiatives in Center East
November 1, 2024,
by
Aida Čučuk
Saudi Arabia-based mostly Hassana Funding Firm and U.S.-based mostly EIG possess signed a memorandum of determining (MoU) to collaborate on infrastructure and vitality transition initiatives in the Center East thru EIG’s targeted $1 billion dedicated regional fund by which Hassana is brooding about turning into an anchor investor with an allocation of up to $250 million.
In conserving with EIG, the MoU underscores the 2 events’ shared commitment to amplify their local and regional infrastructure and vitality transition funding portfolios.
Moreover, the partnership goals to present a take to Saudi Arabia’s Imaginative and prescient 2030 targets and the broader regional shift towards cleaner, sustainable vitality choices, EiG acknowledged.
Saad bin Abdulmohsen Al-Fadly, CEO of Hassana, commented: “This agreement reflects our shared commitment to present a take to the enhance of infrastructure investments and the facilitation of the vitality transition in the Kingdom of Saudi Arabia and the rest of the sphere.”
Blair Thomas, Chairman and CEO of EIG, acknowledged: “We had the pleasure of partnering with Hassana on the Pearl Pipelines challenge in the Kingdom of Saudi Arabia and now we sit up for taking our relationship to the next stage. We have vitality transition is one of many defining funding subject matters of the next a entire lot of a protracted time and leading merchants want to work collectively so that you simply’ll want to bring the legit, realistic, and sustainable vitality machine that society requires. We’re dedicated to doing precisely that.”
Abdulaziz Al-Gudaimi, Chairman of EIG’s MENA Operations, eminent: “By deploying capital into progressive vitality transition initiatives, we are endeavoring to create a sustainable future, boost the economic system, and give a take to the sphere’s commitment to comely vitality choices for many future years encourage.”
To read extra about vitality transition initiatives in the Center East, click right here.
