Nebras Power (Nebras) has established its international business hub in the Netherlands in the form of a wholly-owned subsidiary, Nebras Power Netherlands BV (Nebras Netherlands) aiming to invest in the global power and utilities market space.
Nebras is an international power developer established in 2014 with an initial capital of QR3.65bn ($1bn) and with a mandate to invest in the conventional and renewable energy, water and utilities sectors globally, outside Qatar.
The Nebras investment portfolio will comprise a number of power generating assets across the Middle East, North Africa and South East Asia by the end of 2016. Nebras Netherlands provides a platform through which Nebras aims to realise its international business development and financing strategy in order to grow its global footprint. Nebras’ growth strategy is underpinned by its full commitment to its people, the environment and society, with the objective of achieving greater balance between social and economic development, while minimizing its impact on the environment.
Fahad Al Mohannadi Chairman of the Board, said: "Nebras operates very closely with its shareholders and enjoys their full support as well as the support of the Board of Directors. Nebras aims at building an investment portfolio of more than 5 GW net by the next five years and plays a key role under the State of Qatar’s diversification strategy."
Khalid Jolo, Chief Executive Officer, added: "The rapid growth of Nebras’ investment portfolio since inception evidences the Company’s ability to deliver against its strategy and business plan. We are very pleased with the progress achieved so far and expect it to continue."
Faisal Al Siddiqi, Director of Business Development, said: "It is my pleasure to witness the setup of Nebras Power Netherlands which reflects Nebras Power’s dedication to realise the shareholders ambitions."
