Stonepeak launches dedicated renewable energy platform for Middle East
A. SREENIVASA REDDY (ABU DHABI) Stonepeak, a leading alternative investment firm specialising in infrastructure and real assets, has launched WahajPeak, its inaugural renewable energy platform in the Middle East dedicated to securing and developing high-quality renewable projects in the region and beyond.'WahajPeak will invest in utility-scale renewable energy projects including solar, wind, and battery storage developments across the Gulf Cooperation Council countries and the broader Middle East,' a statement from Stonepeak said.The launch comes as governments in the MENA region set targets for around 175 GW of renewable energy capacity by 2030, creating strong demand for large-scale infrastructure. Mothana Qteishat, former Vice President at Jinko Power, has been appointed Founder and CEO of WahajPeak. He brings nearly two decades of experience in the renewable sector, including leadership in the development of more than 5 GW of solar capacity and the delivery of two of the world's largest solar projects at their time of operation.'Governments across the Middle East and North Africa are targeting the deployment of approximately 175 GW of renewable energy capacity by 2030, creating a rapidly growing need for reliable, utility-scale infrastructure,' Qteishat said. 'With the WahajPeak team's strong execution track record and Stonepeak's deep experience in renewable energy investment and platform building, we are well-positioned to meet this demand.'On his appointment, Qteishat wrote in a LinkedIn post: 'I'm excited to announce that I've started a new journey — building WahajPeak, a renewable energy platform in partnership with Stonepeak, which I have the honour to lead as Founder & CEO, to serve our region and beyond.'He added that WahajPeak 'will deliver world-class solar, wind, and storage projects that power the energy transition while creating lasting infrastructure for our communities and industries. The journey ahead is ambitious — and I look forward to building it together.'Reflecting on his career, Qteishat said he had worked since 2008 to deliver the first utility-scale solar projects in all GCC countries and Jordan, leading over 5 GW of projects. 'My goal is to maximise renewable energy penetration across the Middle East and globally,' he noted on LinkedIn. 'I build and lead high-performing teams to deliver complex projects and drive long-term impact in clean energy.'Stonepeak emphasised that the establishment of WahajPeak further cements its presence in the Middle East, with Hajir Naghdy, Senior Managing Director and Head of Asia and the Middle East, saying: 'Stonepeak has solidified its presence in the Middle East through dedicated boots on the ground in Riyadh and Abu Dhabi, and our previously announced partnership with The Arab Energy Fund. With the establishment of WahajPeak, we are furthering our commitment to the region. We look forward to leveraging our local presence and significant experience building and scaling pan-regional platforms as we work with Mothana and team to grow WahajPeak.'Ryan Chua, Senior Managing Director at Stonepeak, added: 'WahajPeak is a great example of Stonepeak's approach to platform creation — combining exceptional talent with long-term capital, and our sector capabilities and network, to deliver essential infrastructure — making it a natural fit for our global renewables strategy.'Stonepeak has prior experience in platform creation through ventures such as its Asia Energy Storage Platform, Peak Energy, and Synera Renewable Energy, which are dedicated to the development, ownership, and operation of renewable assets in Asia.
Stonepeak, which has $76.3 billion of assets under management, is headquartered in New York with offices in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, Abu Dhabi, and Riyadh.
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