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Dubai’s Alcazar Energy, backed by Mubadala Investment Company, is bullish on the growth of the renewables sector in the Middle East and North Africa as demand for clean energy accelerates amid concerns about climate change.
“Necessity for affordable energy in these emerging markets is of very large magnitude, Daniel Calderon, co-founder and chief executive of Alcazar Energy, said. That is the exciting part of renewable energy. What we have seen in the last seven years is very small fraction of what we hopefully . stand to see in the next ten years.”
Middle Eastern countries like Jordan, which depend on energy imports to meet up to 90 per cent of their requirements, are opting to generate energy through solar to plug demand and lower their spending. The kingdom has launched a number of renewable rounds to tap the private sector in building clean energy capacity.
Capria invests in Global Ventures second fund
Seattle-based global investment fund of funds Capria Ventures (Capria) has invested in UAE-based venture capital firm Global Ventures’ second fund, as part of a strategic partnership. This marks Capria’s first direct investment in the Middle East and Africa (MEA) region.
Capria Ventures is a global investment firm, partnering with and funding the largest network of emerging market fund managers. It is backed by international investors, including Vulcan Capital, the Ford Foundation, Bill Gates, the World Bank’s International Finance Corporation, Unitus Labs, and other impact investors.
“Capria has always backed fund managers across the globe with aligned interests and incentives. Our collaboration is our first entry into the region, which will diversify our investors’ access to opportunities in a region seeing significant growth in the digital health, fintech, edtech and agritech sectors. We are already seeing synergy between
Ar scáth a chéile a mhaireann na daoine
(It is in the shelter of each other that the people live)
– Irish proverb
As 2020 lurches towards a close, many of us in the UK will feel little cause for celebration. This was, after all, a year in which our government facilitated the early deaths of over 60,000 people from Covid-19. A year in which underwhelming climate policies were painted thick with
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But 2020 also saw fierce resistance around the world, most recently in the Indian farmers’ protests. We can look to various parts of the world for inspiration, not only for how to fight, but how to win.
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