DUBAI - In a significant move to bolster sustainable energy initiatives, BlackRock (NYSE:BLK) has invested $400 million in Positive Zero, a company dedicated to advancing renewable energy and decarbonization in the Gulf region. This investment, conducted by BlackRock’s Diversified Infrastructure group today, supports Positive Zero's ambitious plan to triple its renewable energy capacity by 2030. This objective is in line with the United Arab Emirates' (UAE) COP28 targets.
Positive Zero was established during COP27 by Creek Capital and merges the capabilities of SirajPower, Taka Solutions, and HYPR Energy. Under the leadership of Mohammed Abdulghaffar Hussain and David Auriau, Positive Zero specializes in tailor-made energy solutions. The company boasts over 140MWp of solar installations across the region.
The substantial funding from BlackRock signifies a strong vote of confidence in Positive Zero's contracted business model and its prospects as a frontrunner in the regional sustainable infrastructure and energy markets. The UAE, set to host COP28, is intensifying its efforts toward sustainability and clean energy, with Positive Zero poised to play a pivotal role in these developments.
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