July 8 (SeeNews) - Greenstone Equity Partners and investment firm TIMU Energy Holdings have teamed up to raise funds from Gulf Cooperation Council (GCC) investors for renewable energy and natural gas power projects in Africa.
The partners said in a statement their goal is to raise USD 20 million (EUR 18m) to USD 25 million for solar, hydro, wind, geothermal, LNG power, biomass and other energy projects. They will mostly invest in high-growth countries with the largest and fastest growing economies.
“With a population of over 1 billion, Africa represents a huge opportunity for investors who are eager to invest their capital on a long-term high-yield investment basis,” said Greenstone president Omar Al-Gharabally.
Greenstone Equity Partners is an independent fund placement firm in the Middle East. TIMU Energy Holdings, on the other hand, is a joint venture between Pan-African infrastructure investor Harith Partners and Dubai-based Jones Pohl Group (JPG). The latter invests in the energy sector in Africa, Europe and the Middle East and co-owns renewable energy companies in the UAE and Germany.