Stonepeak launches Middle East renewables platform WahajPeak
WahajPeak will invest in utility-scale renewable energy projects including solar, wind, and battery storage developments across the Gulf Cooperation Council and the broader Middle East. The Platform's strategy is supported by constructive policy tailwinds across the region, including national energy agendas focused on decarbonization, energy diversification, and grid modernization. WahajPeak will be led by Mothana Qteishat, former Vice President at Jinko Power, who brings 17 years of experience in the Middle East's renewable energy sector. He has led the development and delivery of more than 5 GW of solar capacity, including the delivery of two of the world's largest solar projects at their time of operation. He will be supported by a seasoned team with more than 100 years of combined experience and a proven execution track record.
Mothana Qteishat commented, '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. 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. We've designed WahajPeak to scale and adapt over time, in step with the region's evolving energy landscape, and we are excited to work closely with our stakeholders to seize the significant opportunities ahead.'
Hajir Naghdy, Senior Managing Director and Head of Asia and the Middle East at Stonepeak, said, '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. We have the utmost confidence in Mothana and the WahajPeak team, whose extensive experience and expertise in the region will be invaluable as we look to support the region's energy transformation.'
Select examples of Stonepeak's platform creation experience include Stonepeak's Asia Energy Storage Platform, Peak Energy, and Synera Renewable Energy, which are all dedicated to the development, ownership, and operation of renewable assets in Asia. Stonepeak has also supported the development and operation of distributed solar generation assets in North America through its platform Madison Energy Investments, which the firm fully realized in 2023. Most recently, Stonepeak has launched two new platforms including JouleTerra, a European renewables land aggregation platform, and Longview Infrastructure, a North American transmission development and investment platform. Through these platforms and other investments currently backed by Stonepeak, the firm has a total of 10.4 GW of renewable energy in operations, under construction, or in development across wind, solar, and battery energy storage systems.
About Stonepeak
Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets with approximately $76.3 billion of assets under management. Through its investment in defensive, hard-asset businesses globally, Stonepeak aims to create value for its investors and portfolio companies, with a focus on downside protection and strong risk-adjusted returns. Stonepeak, as sponsor of private equity and credit investment vehicles, provides capital, operational support, and committed partnership to grow investments in its target sectors, which include transport and logistics, digital infrastructure, energy and energy transition, and real estate. Stonepeak is headquartered in New York with offices in Houston, Washington, D.C., London, Hong Kong, Seoul, Singapore, Sydney, Tokyo, Abu Dhabi, and Riyadh. For more information, please visit www.stonepeak.com.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
an hour ago
- Zawya
Oman's SME authority calls bids for multipurpose centre in Madinat Sultan Qaboos
Oman's Small and Medium Enterprises Development Authority (SME) has invited bids for the design, supervision and project management consultancy contract of the planned Oman Multipurpose Centre in Madinat Sultan Qaboos The project covers the construction of an interactive multipurpose building with a built-up area of 1,317 square metres (sqm) distributed over three floors. 'Bids are due by 31 August 2025, with the award expected in December 2025. The project is targeted for completion in the second quarter of 2027,' a source aware of the details told Zawya Projects. Pre-qualified bidders include Arabic House Engineering Consultancy (AHE), AMTAR Engineering Co., Adi Architecture, and Mada Engineering Consultancy. (Reporting by Deva Palanisamy; Editing by Anoop Menon) (
Khaleej Times
3 hours ago
- Khaleej Times
UAE's Fujairah marine fuel sales hit three-month high in July
Sales of marine bunker fuel at the UAE port of Fujairah rebounded in July after a slump in June to their highest in three months, Fujairah Oil Industry Zone data showed. July sales totalled 640,715 cubic metres (about 635,000 metric tonnes), up 13.8 per cent from June, based on FOIZ data published by SP Global Commodity Insights. The stronger volumes were led by a boost in high-sulphur marine fuel sales, which soared to their highest since January 2024, climbing 28.4 per cent from June to 205,597 cubic metres in July. A wider price difference between low-sulphur fuel oil and high-sulphur fuel oil likely drove more sales of the high-sulphur variety in July. The front-month hi-5 price spread, which reflects the premium of low-sulphur over high-sulphur fuel oil, hit a six-month high of over $95 a ton near mid-July, LSEG data showed. Meanwhile, low-sulphur marine fuel sales, including low-sulphur fuel oils and marine gasoils, rose 8.0 per cent to 435,118 cubic metres. The market share of high-sulphur bunkers widened to 32 per cent in July, while low-sulphur bunkers narrowed to 68 per cent.
Khaleej Times
3 hours ago
- Khaleej Times
Nakheel awards Dh2.6b contract to develop Bay Villas community at Dubai Islands
Nakheel, a member of Dubai Holding Real Estate, has awarded a contract worth Dh2.6 billion to Fibrex Contracting for the construction of the Bay Villas project at Dubai Islands. Featuring 636 luxury units across five distinct property types, Bay Villas represents Nakheel's newest waterfront community development. Building on Nakheel's existing relationship with Fibrex Contracting, which included collaborative work on the District One West community in Mohammed Bin Rashid Al Maktoum City (MBRAMC), Bay Villas will feature a range of exclusive residences, including Townhouses, Semi-detached Villas, Garden Villas, Waterfront Villas and Beachfront Villas. Residents will also enjoy access to premium amenities, including three pool houses, a beach club, landscaped parks and more. Khalid Al Malik, Chief Executive Officer of Dubai Holding Real Estate, said: 'Our partnership with Fibrex Contracting marks a key milestone for Bay Villas, a landmark project that underscores our commitment to shaping Dubai's future through elevated spaces that residents can proudly call home. This development delivers on our vision of designing waterfront communities that prioritise wellbeing, luxury and privacy, all while offering residents an opportunity to enjoy the best of island living.' Positioned at prime locations along a promenade with exclusive beach access, the three-storey Beachfront Villas will feature six bedrooms, a show kitchen, a spacious rooftop lounge and terrace, and a dedicated dining space. Developed on expansive plots, the Waterfront Villas will enjoy panoramic vistas, while the Garden Villas will offer a peaceful escape amidst verdant, natural surroundings. The Semi-detached Villas are designed to deliver a contemporary community experience, while the Townhouses will be set within four- to six-home complexes with private gardens. Overlooking the Arabian Gulf, the Bay Villas development utilises traditional design elements, such as wooden finishes and arabesque detailing, reflecting Dubai's heritage while maximising natural light. Residents will enjoy a premium resort lifestyle, with a central park, swimming pools, sports facilities, children's playgrounds and lush green corridors that connect directly to the waterfront, with parks for walking, jogging and relaxation. Sufyan S. Saleh, Group Managing Director, Fibrex Contracting, said: 'Fibrex Contracting is proud to work with Dubai Holding Real Estate, the region's most distinguished and visionary developer, known for their exceptional track record in delivering iconic projects. This time, we are honoured to extend our successful collaboration to the prestigious Bay Villas project at Dubai Islands. As one of the UAE's leading construction groups, we are committed to delivering this flagship development on time, while adhering to the highest industry standards. Through advanced construction technologies, specialised in-house capabilities and our trusted supply chain network, we are well-equipped to bring this waterfront community to life.' Developed in line with the Dubai 2040 Urban Master Plan, Dubai Islands is a premium destination that spans five islands across 18.6 square kilometres. It includes approximately 59 kilometres of exclusive waterfront, over 20 kilometres of beaches, and extensive open spaces, along with parks, golf courses, promenades and cycling paths. Situated near Downtown Dubai and Dubai International Airport, it is within easy reach of world-class hotels, retail, dining, and entertainment venues.
