Abu Dhabi’s Ruya invests $20m in Saudi power company Energia – The National

Abu Dhabi’s Ruya invests $20m in Saudi power company Energia – The National

Abu Dhabi-based Ruya Partners, an emerging markets private credit firm, has invested 75 million Saudi riyals ($20m) in Saudi Arabia-based temporary power solutions provider Energia.

The capital will enable Energia to acquire new assets, refinance its near-term maturities and focus on its growth initiatives, including sustainable and green energy solutions, the entities said in a joint statement on Monday.

“We believe the TPS sector is critical for the economy and is well-positioned to benefit from a robust cyclical growth driven by increased economic activity in infrastructure, construction, oil and gas, events and tourism,” Rashid Siddiqi, founding partner at Ruya, said.