Ruya Partners Provides $20 Million Capital Investment to Energia

Ruya Partners Provides $20 Million Capital Investment to Energia

Ruya's investment will further strengthen Energia to acquire new assets and focus on sustainable and green energy solutions

Abu Dhabi-based Ruya Partners ("Ruya") has completed a $20 million investment into Energia MGCC ("Energia"), a leading temporary power solutions ("TPS") provider in Saudi Arabia.

Ruya's investment will further strengthen Energia and enable it to acquire new assets, refinance its near-term maturities, and focus on its growth initiatives, including sustainable and green energy solutions.

Headquartered in Jubail, Energia has been a leading player in the Saudi TPS sector over the past decade and plays an integral role in providing turn-key power solutions to the Kingdom's rapidly growing economy and its evolving power needs.

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Some of Energia’s most recent projects include The Saudi Electric Company National Grid Support Project, Saudi Aramco HUGRS Gas Refinery Critical Power Project, Riyadh Metro Project, Dammam Airport Emergency Power, and significant events such as Formula 1 and Riyadh Season.

Shahid Hassan, Energia’s Founder and CEO commented: "We are proud of Energia's milestones and believe that the best is yet to come. We are keen to continue gaining market share on the back of our strong reputation for dependability, speed, and execution.

"This partnership will enable us to accelerate our growth plans and engage on new initiatives such as sustainable and green energy solutions that we plan to launch imminently."

Energia's General Manager, Mohin Shaikh added: "With the support of Ruya Partners, we will be able to strengthen our leadership position in the Kingdom by expanding into the events & entertainment industry and boost our position in the specialized medium voltage power projects.

“Energia will also play an active role in supporting Saudi Vision 2030 on renewable energy as we embark on a journey to provide green energy solutions in solar hybrid, hydrogen fuel cells, and Natural gas."

Rashid Siddiqi, Founding Partner at Ruya stated: "We believe the sector is critical for the economy and is well positioned to benefit from a robust cyclical growth driven by increased economic activity in infrastructure, construction, oil & gas, events, and tourism."

Mirza Beg, Founding Partner at Ruya added: "We are delighted to back a very entrepreneurial management team. We have followed Energia and its progress for the past few years and look forward to being their partner in the years ahead."

Omar Al Yawer, Partner at Ruya noted: "We are witnessing an incredible growth across Saudia Arabia and are delighted to be able to invest towards achieving Vision 2030."

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