Equity fund moves into project development
Dubai-based Abraaj Group has acquired Istanbul-based transaction advisor and power project developer Themis Energy, to support its investments in energy infrastructure.
Themis has more than 1,300MW of energy infrastructure projects under development in Africa and has advised several African governments and lending institutions on energy and civil infrastructure-related projects, especially aviation.
Abraajs 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, said Sev Vettivetpillai, partner and global head of Abraajs Thematic Fund Business.
Themis Energy will be focused on addressing power deficits in growth markets through well-structured projects, leveraging Abraajs resources.
Successful project development is a critical element to addressing the significant shortfall of energy supply in growth markets, says Tas Anvaripour, partner at the Abraaj Group and former chairman of Themis. The combination of Themis development experience and Abraajs investment track record, global networks and local footprint, provides a unique ability to develop and invest in high quality energy assets in growth markets.
In October 2015, Abraaj acquired 49 per cent of Indian Aditya Birla Groups renewables unit to build a gigawatt scale renewable energy platform focused on developing solar power plants in India.
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