Siemens and Desert Technologies launch solar and smart structure development and investment platform, Capton Energy

Siemens and Desert Technologies launch solar and smart structure development and investment platform, Capton Energy
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Siemens and Desert Technologies launch common adventure Capton Energy to develop and invest in solar and smart structure in the Middle East, Africa and Asia
. Capton Energy aims to invest in systems of further than 1GW in total and boost the force of clean, stable and affordable power in under- served requests
.Siemens and Desert Technologies have launched a common adventure to develop and invest in solar and smart structure in Africa, the Middle East and Asia, as blazoned moment at Expo 2020 Dubai. The adventure, Capton Energy – which aims to make up a portfolio of investments in systems with an aggregate capacity of further than 1 gigawatts (GW) – will support systems furnishing clean, dependable, and affordable energy in areas that need it most.
Capton Energy-Board members
Franco Atassi, CEO of Siemens Smart Structure in the Middle East; Nour Moussa, Managing Director of Desert Technologies; Umer Ahmad, CEO of Capton Energy; Asim Hussain, Investment Director, Private Equity, SFS; Khalid Sharbatly, Group CIO of Desert Technologies; Alejandro Sanchez Hernandez, Investment Manager EMEA, Asia and Australia, SFS
.Capton Energy (“ Capton”) has its headquarters in Dubai, the United Arab Emirates, and is led by Umer Ahmad, who joined as principal superintendent and principal investment officer in January 2022. Ahmad is a well- known expert in the energy and structure backing assiduity, bringing further than 21 times’ experience as an equity investor, lender and counsel in developed and arising requests, having led businesses and brigades in a number of high- profile associations, similar as Barclays, Deloitte, SNC-Lavalin and Equitix.
Siemens, through its backing arm Siemens Financial Services (SFS), and Saudi Arabia- grounded Desert Technologies are common shareholders in Capton. The company will primarily target investments in being and greenfield solar power systems generally in a range of 20 to 100 megawatts (MW) of electricity generation capacity. Capton will profit from the mates’ capability to supply technology and moxie to grease the development of new solar installations. The platform will also offer third party investors the occasion to share in the energy transition trip.
“ Solar power plays a critical part in the global energy transition,” said Steffen Grosse, head of Equity Finance for SFS. “ The launch of Capton sets the stage to help drive the expansion of further sustainable and flexible energy systems across the Middle East, Africa and corridor of Asia and we ’re looking forward to concertedly erecting this platform alongside Desert Technologies.”
Desert Technologies is a solar PV and smart structure holding company, concentrated on manufacturing and sustainable investments. Grounded in Jeddah, the company has completed further than 40 solar systems in 22 countries.
“ Solar power enables places without dependable energy networks to leapfrog the heritage structure common in advanced nations and benefit from sustainable, clean and affordable power,” said Nour Mousa, the author of Desert Technologies. “ We’re eager to work with Capton and Siemens to back systems and drive positive change in line with our ESG ideals. Similar sweats to completely optimize the eventuality of the sun and technologies similar as sustainablemini-grids and smart distributed energy systems will anchor our ideals and embody positive impact.”
“ Smart structure powered by the sun are the key to sustainable development”, said Khaled Sharbatly, Group Chief Investment Officer of Desert Technologies and Capton’s Board Member. “ Grounded on the integration of renewables, storehouse and digital technologies, they’ve the eventuality to change for good every aspect of our life, acting as enablers of new social and profitable paradigms, from energy equivalency to clean transportation and electric mobility”.
Demand for solar energy is surging in the Middle East, Africa and Asian nations with abundant sun. In the Middle East alone, total installed capacity for solar power generation further than quadrupled from 2016 to 2020, according to data from the Transnational Renewable Energy Agency in Abu Dhabi.
Sweats to bring sustainable electricity inventories to pastoral areas through the use of out-grid and battery storehouse systems are helping to goad this growth, as further countries shift down from fossil energies that contribute to global warming.
“ Capton Energy is formerly advanced in assembling a channel of solar-themed investments and is in progressive conversations to launch the initial fund caregiving,” said Umer Ahmad, CEO and CIO of Capton Energy. “ With Siemens and Desert Technologies as strategic mates, and the exceptional platoon we’re bringing together within Capton, we’re confident that we’ve the complete toolkit to bring an optimum mix of development, investment and technological capabilities, so we can meet the growing requirements for solar energy in our target requests.”