BlackRock Commits Up to $400 Million Investment in Dubai's Decarbonization Firm, Positive Zero
BlackRock plans to invest up to $400 million in Positive Zero, a Dubai-based firm focusing on decarbonization. This investment, coming from a BlackRock infrastructure fund, aims to accelerate energy transition initiatives in the Gulf region.
Positive Zero, created by Creek Capital, combines expertise from solar, energy efficiency, and battery storage sectors, forming a decentralized infrastructure company.
The company's inception was aligned with the UN's COP27 climate summit and includes the merger of SirajPower, Taka Solutions, and HYPR Energy. Creek Capital founders Mohammed Abdulghaffar Hussain and David Auriau, who have backgrounds in a Dubai family conglomerate and energy consultancy, respectively, lead the firm.
BlackRock's Ed Winter believes Positive Zero is strategically positioned to take advantage of the UAE and Gulf countries' energy transition goals. The funding aligns with the recent COP28's aim to triple renewable energy capacity by 2030. BlackRock has declined to comment further on the investment announcement.
The company's inception was aligned with the UN's COP27 climate summit and includes the merger of SirajPower, Taka Solutions, and HYPR Energy. Creek Capital founders Mohammed Abdulghaffar Hussain and David Auriau, who have backgrounds in a Dubai family conglomerate and energy consultancy, respectively, lead the firm.
BlackRock's Ed Winter believes Positive Zero is strategically positioned to take advantage of the UAE and Gulf countries' energy transition goals. The funding aligns with the recent COP28's aim to triple renewable energy capacity by 2030. BlackRock has declined to comment further on the investment announcement.
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