Partnership to bolster the UAE's sustainable capabilities
May 09 2023
Mensha Ventures, a prominent investment firm, has taken a significant step towards bolstering the United Arab Emirates' (UAE) sustainable capabilities. In a momentous move, the company has signed a Memorandum of Understanding (MoU) with strategic partners from China, including the Asia Development & Investment Bank (ADIB), Hoover Investment Group, and Shenzhen Sinomaster Investment Group (SMT). This partnership aims to jointly invest $1 billion in green energy infrastructure projects within the region. The MoU was officially signed during the Annual Investment Meeting held in Abu Dhabi.
The primary objective of this partnership is to enhance the UAE's sustainable capabilities and capacity by developing green energy infrastructure projects. By doing so, this initiative will facilitate the achievement of the UAE's renewable energy targets while reducing its carbon footprint. Through the collective expertise of the companies involved, this partnership seeks to create a lasting impact on the environment and society.
Furthermore, this partnership is anticipated to unlock new opportunities for sustainable investments within the region, contributing to economic growth and aligning with the UAE's vision for a sustainable future. The collaboration between Mensha Ventures and its strategic partners from China marks a remarkable milestone in the UAE's pursuit of sustainable development.
Additionally, Mensha Ventures Chairwoman Dr Tan and ADIB's Mr Sun have signed an MoU to introduce the Green Tech Fund. This fund will primarily operate in the Gulf Cooperation Council (GCC) region and focus on establishing portfolio companies with global expertise and best-in-class industry knowledge in Green Technology. Leveraging the advanced innovation and specialized manufacturing capabilities of China, the focus sectors of the fund will drive cutting-edge sustainable solutions into the local ecosystem.
The Green Tech Fund will concentrate on various sectors, particularly New Energy, encompassing EV infrastructure, engineering, storage, and transportation. It will prioritize the transition to clean energy through the utilization of electrical and green hydrogen energy. In collaboration with its strategic partners, Mensha Ventures will serve as advocates and ambassadors for the global movement towards a sustainable future, with a special emphasis on the GCC region.
In recent years, the GCC countries have shown a strong commitment to embracing sustainable solutions, aiming to reduce their carbon footprint and accomplish their renewable energy objectives. The Green Tech Fund intends to play a pivotal role in this transition by investing in innovative green technology projects and driving sustainable solutions into the region's ecosystem.
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