Partnership to explore, develop and operate utility scale geothermal power generation focusing on emerging markets.
(Source: Middle East Company News)Reykjavik Geothermal, a pioneer in geothermal power development, today announced at the World Future Energy Summit that it has entered into a partnership with Ambata Capital Partners to explore, develop and operate utility scale geothermal power generation focusing on emerging markets.
About Reykjavik Geothermal:
Reykjavik Geothermal was founded in 2008 by one of the World’s top geothermal energy management teams, to take advantage of the vast untapped investment and development opportunities in the sector worldwide. With a track record that includes leading the development of the world’s largest geothermal power plant on time and on budget, unparalleled networks and an emerging market focused resource strategy, the RG team is uniquely positioned to become a leading company in this rapidly growing sector. In addition to pioneering the first geothermal developments in the Arabian Gulf and in India, RG will develop utility-scale geothermal power plants centered around the world’s best geothermal resources. www.reykjavikgeothermal.com
About Ambata Capital Partners:
Ambata is a global investment and advisory firm specializing in clean energy and sustainability, with a strategic focus on the Middle East and Africa. Ambata has assembled a world-class team of more than 25 professionals based in South Africa, the UAE and the US. Led by Michael Philipp, former Chair and CEO of Credit Suisse for Europe, Middle East and Africa and Global Head of Asset Management at Deutsche Bank, the Ambata team consists of CEOs from leading franchises in the Middle East and Africa, as well as proven professionals in research, advisory, investments, structuring and distribution.
Masdar is Abu Dhabi’s multi-faceted initiative advancing the development, commercialisation and deployment of renewable and alternative energy technologies and solutions. Masdar is a wholly owned subsidiary of the Mubadala Development Company (Mubadala). www.masdar.ae
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