Skip to main content

Year Founded: 2010

AUM: N/A | Dry Powder: N/A

Emirates Financial Tower, 6th Floor, South Tower, Dubai International Financial Centre, Dubai UAE
Adenium Energy Capital is a private equity investment firm based in Dubai, United Arab Emirates. The firm was founded in 2010 and specializes in the investments in clean and renewable energy and alternative energy-related sectors

Key Contacts

  • Wassef Sawaf
    CEO, Board Member & Member of Executive Committee
  • Darren Cruickshank
    Chief Financial Officer
  • Jeremy Crane
    Chief Operating Officer

Investment Preferences

  • Preferred Industries
    Energy Services
  • Geographical Preference
  • Preferred Deal Types
    Buyout/LBO, PE Growth/Expansion
  • Other Investment Preferences
    Long-Term Investor, Will syndicate

Investments By Year

Source: Pitchbook

Funds Closed

Adenium Solar Energy Fund 1
Vintage: N/A

Size: €50M

Dry Powder: N/A 

Details: N/A

Investments By Industry

Investments By Region

Source: Pitchbook

Key Investments

In February 2019, Mitsui & CO Limited along with International Finance Corporation, Equinor Energy Ventures, Arab Petroleum Investments Corporation (APICORP), and Adenium Energy Capital invested $65 million in Yellow Door Energy in a Series A financing round to scale its investments in solar energy and energy efficiency solutions in the Middle East and Africa. Yellow Door Energy is a UAE-based solar developer

Adenium Energy Capital, Ltd. announced that its 15.6MW Solar Photovoltaic Power Project in Jordan in cooperation and partnership with Lafarge Cement Jordan, reached financial closure on 29 November 2018. Adenium acted as the sole sponsor for this transaction, while Arab Bank PLC acted as the sole lender

In November 2017, Adenium Energy Capital acquired the rights to develop a 36MWdc solar project from Edison Power. The project is located in Shizuoka Prefecture and will be developed, built and financed by Adenium. The power generated from this project will be sold to Tokyo Electric Power Company for twenty years

In October 2016, Adenium Energy Capital, Ltd. commissioned four solar PV projects totalling 50MW in Jordan. The four projects, 1 x 24 MW and 3 x 11 MW, were financed by the International Finance Corporation (IFC), Finnish Fund for Industrial Cooperation Ltd. (Finnfund), the Arab Bank and OPEC Fund for International Development (OFID)

In February 2016, Adenium Energy Capital invested in American Solar Direct, a residential solar energy provider in California. The investment helped the company to continue its growth in the Golden State as well as future expansion to other states

In August 2015, Adenium and Hudson formed a partnership to jointly capture the compelling investment opportunity presented by utility-scale solar photovoltaic projects in Japan. Adenium continued to develop its growing solar pipeline of over 75MW, and the partnership provided the required funding for the construction and long-term ownership of those projects

Other Details

Adenium Energy Capital develops, finances, owns, and operates a global portfolio of renewable energy projects. Adenium operates solar photovoltaic projects in the UAE, Saudi Arabia, Bahrain, Egypt, Jordan and Pakistan

Arab Petroleum Investments, Bright Power Group, Equinor Technology Ventures, International Finance Corporation and Mitsui & Co., Quercus Assets Sélection, VEI Green are some of the co-investors who invest alongside Adenium Energy Capital

Source: Pitchbook, Company Website, Press Release