Qatari efforts to enter the North African energy market

Qatari efforts to enter the North African energy market

Qatari state-owned “Nebras Power” company, has acquired a 60% equity stake in Carthage Power Company (CPC) in Tunisia through their Dutch affiliate*.

Carthage Power has a power plant in Tunis, Tunisia, with a production capacity of 471 megawatts, which provides about 10% of the electricity demand in the country.

Nebras Power has stated that the process was in line with its acquisition strategy to enhance its asset base through attractive PPA opportunities and investing in power plants with long-term contracts to buy electricity.

“The acquisition marks the entry of Nebras into Tunisian power market and establishes its first presence in North Africa,” said Mr. Fahad Hamad Al Mohannadi, Chairman of Nebras. ” We hope this will be the first of many investments in the energy sector in North Africa”, added Al-Mohannadi.

* Dutch affiliate: Nebras Power Investment Management B.V. is a Dutch affiliate of Nebras Q.S.C.(“Nebras”).

 

NßN tip: Nebras Power was established in 2014 and it is headquartered in Doha, Qatar. The company is a joint venture of two Government-Related Entities (“GREs”): Qatar Electricity and Water Company (“QEWC”), (60%) and Qatar Holding (40%).

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Aasem Abuzeid

Aasem Abuzeid is the Director for MENA Region. Aasem acts as a leading marketer in the Arabic speaking countries. He is also the administrator and developer of NBN.Media.