The Abraaj Group launches energy development arm
Abraaj Group will address the large power deficit in growth markets where a lack of bankable projects is inhibiting economic development. Themis Energy will support energy infrastructure projects from concept to operations across target markets
The Abraaj Group (“Abraaj”), a leading investor operating in global growth markets, has announced the formation of a dedicated project development arm to further extend its investment capabilities in the energy infrastructure space.
As a member of The Abraaj Group, Themis Energy (“Themis”) will leverage the Group’s local teams, global network, execution capabilities and existing infrastructure team to originate, develop and manage projects from concept stage to operations.
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.
Abraaj’s global strategy is aimed at capturing value throughout the life-cycle of primarily renewable and energy efficiency projects across several sub-sectors and technologies.
“Abraaj’s 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 Abraaj’s Thematic Fund Business.
“We believe that we can successfully achieve this objective by expanding our scope of activities to include a dedicated focus on project development.”
He said that by establishing Themis as its development arm, 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, acquired by Abraaj to form its energy development arm, was launched in 2013 by Marc Mandaba and other professionals with a strong track record in energy project development.
The company has energy infrastructure projects under development in excess of 1,300 MW and has advised several African governments and lending institutions on energy and civil infrastructure related projects.
Assisted by a team of experienced professionals, Themis expects to lead or partner with other project developers in order to bring projects from concept to bankability and mobilise debt and equity toward financial close, enabling the construction of energy projects to help meet Abraaj’s rigorous commercial, environmental, social and governance criteria.