As Middle Eastern economies continue to diversify away from oil in the wake of the oil price crash, investors in the region are also ramping up their investments into alternative energy and cleantech.
HSBC Holdings Plc. estimates that 80 trillion USD in financing will be required to wean the world’s economy off fossil fuels, and Middle Eastern capital may play an essential role in meeting this threshold. According to Spencer Lake, Vice Chairman of Global Banking and Markets at HSBC, clean-energy projects will struggle to compete against coal, oil and natural gas unless a price floor is implemented for greenhouse gas emissions.
The price floor has already been proposed by France, and its implementation would greatly facilitate cleantech investments around the world.
Governments in the Middle East have spent billions on renewable energy and cleantech projects over the years, including the UAE’s recent establishment of the 27 billion USD Dubai Green Energy Fund. In line with the government’s plan to promote solar power in Dubai and throughout the UAE, the fund is dedicated to providing low-cost loans for investors in Dubai’s cleantech sector. The fund is part of the country’s wider cleantech and green energy investment program.
Naseba is a deal facilitator that has spent over a decade building a network of contacts with investors based around the world – including the Middle East. This network includes family offices, sovereign wealth funds, investment firms, high net worth individuals and members of royalty. Our investor analyst team is currently sourcing technology investment opportunities on behalf of these investors.
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