Abraaj Group Launches Dedicated Energy Development Arm

Mar 16 2016 | 10:21pm ET

Leading growth market private equity firm Abraaj Group has formed a dedicated project development arm aimed at further extending the company’s investment capabilities in the energy infrastructure space. 

Named Themis Energy, the venture will leverage Abraaj’s local teams, global network, execution capabilities and existing infrastructure team to originate, develop and manage projects from concept stage to operations, according to a statement.

Abraaj aims to address the large power deficit in growth markets where a lack of well-structured quality and bankable projects is inhibiting economic development, the company said. This strategy aims to capture value throughout the life cycle of primarily renewable and energy efficiency projects across several sub-sectors and technologies. By establishing Themis, 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.

Themis was acquired by Abraaj to form the energy development arm. It was launched in 2013 by former African Development Bank private infrastructure investment officer Marc Mandaba and other professionals with a strong track record in energy project development, and has energy infrastructure projects under development in excess of 1,300 MW. It has advised several African governments and lending institutions on energy and civil infrastructure-related projects.

Themis will lead or partner with other project developers in order to bring projects from concept to bankability and mobilize debt and equity toward financial close, enabling the construction of energy projects which will meet Abraaj’s rigorous commercial, environmental, social and governance criteria, the company said.

Mandaba will join Abraaj as Managing director and Head of Themis along with a team of twelve experienced project finance and development professionals boasting project development experience in a wide range of countries covering Africa, Middle East and Latin America.

“Successful project development is a critical element to addressing the significant shortfall of energy supply in growth markets,” noted Tas Anvaripour, partner at The Abraaj Group, in the statement. “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.”

Headquartered in Dubai, the Abraaj Group is a leading private equity investor focused on the growth markets of Africa, Asia, Latin America, the Middle East, and Turkey. The firm has more than 20 offices spread across five regions with hubs in Istanbul, Mexico City, Nairobi and Singapore. The firm manages approximately $9.5 billion across regional, sector and country-specific funds, with approximately $1 billion in ten investments in global growth markets. 

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