Reykjavik Geothermal also intends to establish a headquarter in Masdar City. The company is currently active in Iceland, India, Kenya, Nicaragua, Russia, Rwanda and the UAE.
Gudmundur Thoroddsson, founder and CEO of Reykjavik Geothermal, said: “Geothermal is becoming an increasingly important part of the renewable energy mix worldwide. This is particularly true in emerging nations, many of which possess the best quality geothermal resources and have very attractive market dynamics.
“Our partnership with Ambata will be highly accretive as we execute on our plans. With their deep experience in our target markets – particularly the Middle East and Africa – combined with their sector expertise and capital raising abilities, Ambata is uniquely qualified to accelerate our strategic plans globally.”
Sultan Jaber, CEO of Masdar, said: “This news is a reflection of our vision to bring together and enable the best organizations to drive the future of advanced energies and environmental sustainability. We are thrilled that the combined Reykjavik Geothermal and Ambata teams have chosen Masdar City as their base of operations.”
Ambata Capital Partners is an investment and advisory firm specializing in clean energy, with a focus on the Middle East and Africa.
