Abu Dhabi-based Ruya Companions (“Ruya”) introduced at the moment that it accomplished a SAR 75 million (USD 20 million) funding into Energia MGCC (“Energia”), a number one short-term energy options (“TPS”) supplier in Saudi Arabia.
Headquartered in Jubail, Energia has a nationwide presence with places of work throughout all main cities, a high-quality fleet, and deep engineering capabilities. The Firm has been a number one participant within the Saudi TPS sector over the previous decade and performs an integral function in offering turn-key energy options to the Kingdom’s quickly rising economic system and its evolving energy wants. A few of Energia’s most up-to-date tasks embrace The Saudi Electrical Firm Nationwide Grid Help Mission, Saudi Aramco HUGRS Gasoline Refinery Important Energy Mission, Riyadh Metro Mission, Dammam Airport Emergency Energy, and important occasions resembling Formulation 1 and Riyadh Season.
Ruya’s funding will additional strengthen Energia and allow it to amass new belongings, refinance its near-term maturities, and give attention to its development initiatives, together with sustainable and inexperienced power options.
Shahid Hassan, Energia’s Founder and CEO commented: “Our journey started in 2011 with the intention to ship high-quality, reliable energy options to our clients. Due to our loyal clients and hardworking groups, now we have grown significantly since our humble starting. We’re pleased with Energia’s milestones and imagine that the most effective is but to come back. We’re eager to proceed gaining market share on the again of our robust popularity for dependability, velocity, and execution. As we set our sights on the following ten years, we’re delighted to accomplice with Ruya. This partnership will allow us to speed up our development plans and interact on new initiatives resembling sustainable and inexperienced power options that we plan to launch imminently.”
Energia’s Normal Supervisor, Mohin Shaikh added: “With the help of Ruya Companions, we can strengthen our management place within the Kingdom by increasing into the occasions & leisure trade and increase our place within the specialised medium voltage energy tasks.
Energia can even play an energetic function in supporting Saudi Imaginative and prescient 2030 on renewable power as we embark on a journey to offer inexperienced power options in photo voltaic hybrid, hydrogen gasoline cells, and Pure fuel.”
Rashid Siddiqi, Founding Companion at Ruya acknowledged: “We imagine in backing robust administration groups with a confirmed observe document of constructing and managing robust companies inside important sectors of the economic system. TPS is a sector we have monitored for a few years inside KSA. We imagine the sector is vital for the economic system and is effectively positioned to learn from a sturdy cyclical development pushed by elevated financial exercise in infrastructure, development, oil & fuel, occasions, and tourism. Inside the sector, Shahid, Mohin and group have carried out a exceptional job of constructing a powerful popularity and securing a number one market place; we’re very excited to accomplice with them as they proceed executing on Energia’s development journey. ”
Mirza Beg, Founding Companion at Ruya added: “We’re delighted to again a really entrepreneurial administration group. We have now adopted Energia and its progress for the previous few years and look ahead to being their accomplice within the years forward.” Omar Al Yawer, Companion at Ruya famous, “We’re witnessing an unbelievable development throughout Saudia Arabia and are delighted to have the ability to make investments in direction of reaching Imaginative and prescient 2030.”
About Ruya Companions
Ruya (means “Imaginative and prescient” in Arabic) is an Abu-Dhabi-based rising markets non-public credit score agency specializing in mid-market firms. Because the area’s first partner-owned non-public credit score agency, Ruya gives bespoke funding options to mid-market firms whereas delivering a superior risk-adjusted return underpinned with common present revenue to its traders. Ruya Companions was established in 2020 with an anchor funding from Abu Dhabi Catalyst Companions, a three way partnership between Mubadala and Alpha Wave World. Ruya is regulated by ADGM’s Monetary Companies Regulatory Authority and is licensed to handle collective funding funds.
Spearheaded by a big group of professionally certified engineers, group Energia has made a distinct segment for itself because the main short-term energy options and ancillary tools supplier within the Kingdom of Saudi Arabia and the broader MENA area through the years. The Energia story began in 2011 with the approaching collectively of the most effective in trade minds with the frequent purpose of bringing the most effective in school high quality and excellence to clients. What began as a imaginative and prescient quickly changed into actuality, with Energia gaining substantial floor by specializing in delivering high quality tools & companies to its clients.
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Omar Al Yawer – Companion