Stonepeak Launches WahajPeak, Its First Renewable Energy Platform in the Middle East
Stonepeak, a leading global alternative investment firm specializing in infrastructure and real assets, has officially announced the launch of WahajPeak, its first renewable energy platform dedicated to the Middle East. The move marks a significant milestone for Stonepeak as it expands its footprint into one of the fastest-growing renewable energy markets in the world. WahajPeak has been created with the ambition of becoming a central player in the region’s transition toward clean energy, focusing on the development, ownership, and long-term operation of utility-scale renewable energy projects.
The platform, headquartered in the Gulf, will focus on solar, wind, and battery storage projects, with the capability to expand its reach across the Gulf Cooperation Council (GCC) and the wider Middle East. WahajPeak aims to address the increasing demand for sustainable power solutions in a region that has traditionally been dependent on hydrocarbons, but is now rapidly advancing toward a diversified and low-carbon energy mix.
Building on Policy Momentum in the Middle East
The Middle East has entered a transformative era in its energy strategy. National governments across the GCC, including Saudi Arabia, the United Arab Emirates, Oman, and Qatar, have unveiled ambitious national energy transition plans that set out aggressive targets for renewable energy adoption, carbon reduction, and modernization of power grids. These agendas are part of broader Vision 2030 strategies that emphasize economic diversification and sustainability.
For instance, Saudi Arabia is working toward generating 50 percent of its electricity from renewables by 2030, while the UAE is aiming for net-zero emissions by 2050. These policies are backed by large-scale government tenders, public-private partnerships, and foreign investment incentives, making the region a highly attractive market for global investors in clean energy infrastructure.
Stonepeak, through WahajPeak, is positioning itself at the forefront of this shift. By combining capital, expertise, and a proven track record in renewable platforms worldwide, the firm seeks to directly align with government objectives and provide the infrastructure necessary to support decarbonization and energy diversification.
Experienced Leadership with Proven Execution
To ensure success, WahajPeak will be led by Mothana Qteishat, a recognized leader in the Middle East’s renewable energy sector. Qteishat previously served as Vice President at Jinko Power, where he built a reputation for delivering some of the world’s largest solar projects. Over his 17-year career, he has overseen the development and delivery of more than 5 gigawatts (GW) of solar capacity, including two record-setting solar facilities that became global benchmarks at the time of their commissioning.
Supporting Qteishat is a highly experienced management team with more than 100 years of combined industry expertise. This leadership team brings together backgrounds in project development, financing, construction, and operations—providing WahajPeak with the skills needed to execute large-scale renewable projects from concept to completion.
In a statement, Qteishat underscored the urgency and opportunity ahead:
“Governments across the Middle East and North Africa are targeting the deployment of approximately 175 GW of renewable energy capacity by 2030. This creates a rapidly growing need for reliable, utility-scale infrastructure. With WahajPeak, we are combining a strong execution track record with Stonepeak’s deep experience in renewable energy investment and platform building. Together, we are well-positioned to meet this demand. WahajPeak is designed to scale and adapt in line with the region’s evolving energy landscape, and we look forward to working closely with stakeholders to seize the significant opportunities that lie ahead.”
Stonepeak’s Strategic Commitment to the Middle East
The launch of WahajPeak reflects Stonepeak’s expanding presence in the Middle East. The firm has already established a strong foundation in the region through dedicated offices in Riyadh and Abu Dhabi, along with its previously announced partnership with The Arab Energy Fund. These efforts signal Stonepeak’s commitment not just to investing in the Middle East, but also to building long-term partnerships and platforms that deliver sustained economic and environmental value.
Hajir Naghdy, Senior Managing Director and Head of Asia and the Middle East at Stonepeak, emphasized this commitment:
“Stonepeak has solidified its presence in the Middle East through our boots on the ground in Riyadh and Abu Dhabi, and through partnerships with key regional stakeholders. With the establishment of WahajPeak, we are furthering our commitment to the region. We look forward to leveraging our local presence and extensive experience in building and scaling pan-regional platforms, as we work with Mothana and his team to grow WahajPeak into a leader in renewable energy.”
Similarly, Ryan Chua, Senior Managing Director at Stonepeak, highlighted how WahajPeak fits into the firm’s broader global renewables strategy:
“WahajPeak is a prime example of Stonepeak’s approach to platform creation—bringing together exceptional local talent, long-term capital, and sector expertise to deliver essential infrastructure. This makes WahajPeak a natural fit for our global strategy. We have full confidence in Mothana and the WahajPeak team, whose expertise will be invaluable as the region undertakes its energy transformation.”
Stonepeak’s Global Track Record in Renewable Platforms
Stonepeak’s decision to launch WahajPeak builds on its global experience in renewable energy platform creation. The firm has successfully launched and scaled several major platforms across Asia, North America, and Europe, demonstrating its ability to replicate success across geographies.
Key examples include:
- Asia Energy Storage Platform – Dedicated to developing and operating large-scale battery energy storage solutions across Asia.
- Peak Energy and Synera Renewable Energy – Both focused on wind and solar development in the Asia-Pacific region.
- Madison Energy Investments – A North American distributed solar generation platform that Stonepeak fully realized in 2023, providing valuable lessons in scaling and exiting renewable assets.
- JouleTerra – A European renewables land aggregation platform launched to secure development-ready sites for wind and solar projects.
- Longview Infrastructure – A North American transmission development and investment platform, essential for integrating renewable generation into existing power grids.
Collectively, Stonepeak has backed projects amounting to 10.4 GW of renewable energy capacity either in operation, under construction, or in development. These investments span solar, wind, and battery energy storage systems, underscoring the firm’s multi-technology expertise and ability to deliver across different markets.
