September 19 (Renewables Now) - A Dutch affiliate of Qatar’s Nebras QSC has agreed to take control of solar plants developer and operator Zon Exploitatie Nederland Holding BV (ZEN), it was announced over the weekend.
Nebras Power Investment Management BV has signed a deal to buy a 75% stake in ZEN, which currently has 96 MW of solar capacity in operation, under construction or awaiting the start of construction. The value of the deal was not given.
Fahad Hamad Al-Mohannadi, chairman of the board of Nebras, commented that this transaction aligns with the Doha-based company’s strategy to become a grass-root international power developer.
"We look at ZEN primarily as an excellent new business development opportunity, building on an already sizable base, in a rapidly growing market. ZEN will provides to Nebras access to its local development team, local knowhow and deal pipeline," said Faisal Al Siddiqi, business development director of Nebras.