Thursday 23 May 2013

Qatar sets up $1bn energy infrastructure fund

Three state-backed companies in Qatar (pictured) are setting up a $1 billion (£662m) fund to invest in energy infrastructure assets overseas.

The fund will be run by Qatar Holding (QH), Qatar Petroleum International (QPI) and Qatar Electricity and Water Company (QEWC).

QEWC said the fund would be invested in countries outside Qatar in the fields of “power generation, water desalination and treatment, heating and cooling systems, provision of fuel as well as fuel loading and unloading equipment”.

The new company will be called Nebras Power and 60% of it will be owned by QEWC while QPI and QH will share the remaining 40% equally between them.

Earlier this year ELN reported Abu Dhabi could be planning to invest in the UK's clean energy sector.