Utilities Development I

Arcapita GCC Utilities Development I was formed in 2007 and consists of utilities projects, principally district cooling and related utilities, across Saudi Arabia, Bahrain, Kuwait and Qatar.

About Investment

In March 2007, Arcapita formed Arcapita GCC Utilities Development I (AGUD I). AGUD I is a joint venture with Veolia Energy Gulf W.L.L., in a GCC portfolio of utility projects, principally district cooling, and related utilities, with a country focus on Saudi Arabia, Bahrain, Kuwait, and Qatar. District cooling is an established technology that offers a number of benefits over conventional air-cooling systems, and is particularly suited to a high-density office, retail and residential developments, servicing entire districts efficiently through a centralized plant. Using chilled water as the cooling mechanism, requires lower energy inputs, incurs lower operational and maintenance costs, and is quieter and less visible than the conventional alternative.

Sector: Private Equity
Region: Middle East
Investment Date: 2007

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