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Hassana and EIG Partner on $1 Billion Energy Transition Fund
Slice of Energy Team
November 05, 2024
Key Highlights:
Hassana and EIG sign MoU for energy transition and infrastructure investments in the Middle East.
Potential $250 million anchor investment by Hassana in EIG’s $1 billion regional fund.
Supports Saudi Vision 2030 by fostering sustainable, clean energy projects.
Focus on boosting foreign direct investment and regional economic growth.
Commitment to sustainable energy and infrastructure transformation in the region.
Source: Business Wire
Notable Quotes:
“Hassana is pleased to expand our partnership with EIG, a leader in the global energy and infrastructure sectors. This agreement reflects our shared commitment to support the growth of infrastructure investments and the facilitation of the energy transition in the Kingdom of Saudi Arabia and the rest of the region.”
“We believe energy transition is one of the defining investment themes of the next several decades, and leading investors need to work together to deliver the reliable, affordable, and sustainable energy system that society requires.”
“By deploying capital into innovative energy transition projects, we are endeavoring to build a sustainable future, boost the economy, and reinforce the region's commitment to clean energy solutions.”
Our Take:
The MoU between Hassana Investment Company and EIG is a strategic move aligning with Saudi Arabia’s Vision 2030, underscoring a shift toward sustainable energy and infrastructure development in the Middle East. Hassana’s potential $250 million investment in EIG’s $1 billion fund not only enhances foreign direct investment but also signals strong confidence in the region's energy transition potential. This partnership embodies a collaborative approach, pooling expertise and capital to tackle some of the most pressing challenges in sustainable energy. With significant backing from two prominent investors, this initiative has the potential to serve as a model for sustainable economic growth, clean energy, and infrastructure transformation across the region.