Project Description
The proposed project is an IFC common equity investment of up to US$25 million, for a minority stake in Gaia Energy Partners Limited (“Gaia” or the “Company”), an independent renewable energy investment company incorporated in 2014 to develop, finance, acquire, build and operate renewable energy projects in the Middle East, Turkey and Africa region (the “Project”). Gaia is run by a skilled management team with extensive experience in developing and operating thermal and renewable power plants in the Middle East, Asia and Africa.
Gaia is currently pursuing a pipeline of projects comprising onshore wind and solar PV projects; acquisition of its first small scale solar PV project in the Middle East is near completion. In addition to its primary focus on onshore wind and PV solar projects, future investments in hydropower, concentrated solar power, geothermal and biomass are a possibility.