Abraaj launches new energy infrastructure platform

The Dubai-based firm has formed a new energy development arm with the acquisition of Themis Energy.

The Abraaj Group has launched a new energy development platform with the acquisition of Themis Energy as it seeks to expand its investment activities in the energy infrastructure sector. 

Themis' founder and 13-member team are to join the Dubai-based firm as part of the deal. 

“Abraaj aims to address the large power deficit in growth markets where a lack of well-structured quality and bankable projects is inhibiting economic development,” the firm said in a statement. “By establishing Themis as its development arm, Abraaj will be able to support energy infrastructure projects from their inception, unlocking a supply of bankable quality energy assets developed on a proprietary basis.”

Marc Mandaba, who founded Themis in 2013, will join Abraaj as managing director and head of Themis. His 12 years of experience include working at the African Development Bank's (AfDB) private infrastructure and PPP financing division.

Themis' chairperson, Tas Anvaripour, will join Abraaj as a partner in the energy infrastructure team. Anvaripour's previous experience, which spans nearly three decades, includes serving as the first chief executive of Africa50, Africa's newest infrastructure delivery initiative. Prior to that, she was the director of business development at AfDB.

According to the statement, Themis has energy infrastructure projects under development in excess of 1,300MW and has advised several African governments and lending institutions on energy and civil infrastructure-related projects.

To date, the Abraaj Group has invested about $1 billion in global growth markets. Last October, the firm announced a partnership with the Aditya Birla Group to build a gigawatt-scale renewable energy platform focused on developing solar power plants in India.

The firm invests primarily in renewable and energy-efficiency projects.