Stonepeak currently manages 10.4 GW of renewable energy capacity

Stonepeak, a leading alternative investment firm focused on infrastructure and real assets, has unveiled WahajPeak, its first renewable energy platform in the Middle East.

The platform aims to acquire and develop high-quality utility-scale renewable energy projects, including solar, wind, and battery storage, across the Gulf Cooperation Council (GCC) and the wider Middle East.

WahajPeak’s launch comes amid strong regional policy support for decarbonisation, energy diversification, and grid modernisation, providing a favorable environment for renewable energy growth. 

Stonepeak's previous initiatives include the Asia Energy Storage Platform, Peak Energy, and Synera Renewable Energy, all focused on renewable asset development, ownership, and operation in Asia.

In North America, the firm developed Madison Energy Investments, a distributed solar platform fully realised in 2023.

The MENA portfolio

More recently, Stonepeak launched JouleTerra, a European renewables land aggregation platform, and Longview Infrastructure, a North American transmission investment platform.

Through its platforms and investments, Stonepeak currently manages 10.4 GW of renewable energy capacity across wind, solar, and battery storage projects that are operational, under construction, or in development.

WahajPeak marks the firm’s first dedicated renewable initiative in the Middle East, reinforcing Stonepeak’s commitment to driving the region’s clean energy transition while leveraging its global experience in renewable infrastructure development.

Mothana Qteishat, who will lead the platform, said, “Governments across the Middle East and North Africa are targeting the deployment of approximately 175 GW of renewable energy capacity by 2030, creating a rapidly growing need for reliable, utility-scale infrastructure. With the WahajPeak team’s strong execution track record and Stonepeak’s deep experience in renewable energy investment and platform building, we are well-positioned to meet this demand. We’ve designed WahajPeak to scale and adapt over time, in step with the region’s evolving energy landscape, and we are excited to work closely with our stakeholders to seize the significant opportunities ahead.”

Hajir Naghdy, senior managing director and head of Asia and the Middle East at Stonepeak, said, “Stonepeak has solidified its presence in the Middle East through dedicated boots on the ground in Riyadh and Abu Dhabi, and our previously announced partnership with The Arab Energy Fund. With the establishment of WahajPeak, we are furthering our commitment to the region. We look forward to leveraging our local presence and significant experience building and scaling pan-regional platforms as we work with Mothana and team to grow WahajPeak.”

Ryan Chua, senior managing director at Stonepeak, added, “WahajPeak is a great example of Stonepeak’s approach to platform creation—combining exceptional talent with long-term capital, and our sector capabilities and network, to deliver essential infrastructure—making it a natural fit for our global renewables strategy. We have the utmost confidence in Mothana and the WahajPeak team, whose extensive experience and expertise in the region will be invaluable as we look to support the region’s energy transformation.”

Also read: Oman introduces new incentives to boost green hydrogen projects

The plant is currently in its final testing phase. (Image source: DEWA)

Dubai Electricity and Water Authority (DEWA) has started trial operations and electricity export from its pumped-storage hydroelectric power plant in Hatta, following an announcement by HE Saeed Mohammed Al Tayer, MD and CEO of DEWA, during a site visit to the project.

The plant, currently in its final testing phase, has already produced more than 17,921 megawatt-hours of electricity.

Once fully operational, it will provide 250 MW of generation capacity, 1,500MWh of storage, and is expected to operate for up to 80 years. With peak demand in Hatta at around 39 MW, surplus power will be supplied to Dubai’s grid.

Al Tayer toured the underground power station, located 60 metres below ground level, where he reviewed the operation of two main water valves weighing 110 tonnes each.

He also visited the command and control centre, witnessed operational tests of pumping and generation, and inspected the upper dam, which has a storage capacity of 5.3mn cubic metres of water.

Expanding renewable targets

The structure consists of two compressed concrete walls, the main wall rising 72 metres in height and stretching 225 metres in length.

The AED1.42bn project is part of DEWA’s wider efforts to expand renewable and storage technologies.

Alongside solar PV, concentrated solar power, and battery systems, the Hatta plant contributes to the Dubai Clean Energy Strategy 2050 and the Dubai Net-Zero Carbon Emissions Strategy 2050, which target 100% clean energy generation by mid-century.

Using a closed-loop system, the plant generates electricity by releasing water stored in the upper dam through a 1.2 km tunnel to spin turbines, achieving a turnaround efficiency of nearly 79%.

Power can be dispatched to DEWA’s grid in less than 90 seconds when demand peaks. During low-demand periods, solar power from the Mohammed bin Rashid Al Maktoum Solar Park will be used to pump water back to the upper reservoir.

Also read: Dubai invests US$2bn on expanding electricity transmission network

The new incentives focus on reducing financial barriers during the critical early stages of project development

Hydrom, the authority driving Oman’s national Green Hydrogen Strategy, has announced a fresh set of fiscal incentives aimed at enhancing the commercial viability of projects participating in the country’s third green hydrogen auction round.

The measures reflect feedback from a market sounding exercise earlier this year and respond to evolving global hydrogen market trends, reinforcing Oman’s reputation as one of the world’s most structured and investment-ready hydrogen ecosystems.

Supportive fiscal framework for early-stage projects

The new incentives focus on reducing financial barriers during the critical early stages of project development. Developers will benefit from a 90% reduction in land lease fees during the development stage, with the possibility of further reductions during the Front-End Engineering Design (FEED) phase.

In addition, base royalties will be significantly lowered during the first years of production, and corporate tax exemptions of up to 10 years will be available.

These measures are designed to improve project economics, increase internal rates of return, and accelerate progress toward final investment decisions.

Flexible and scalable auction structure

Oman’s third green hydrogen auction round offers a land block of up to 300 sq km in Duqm, with minimum project sizes set at 100 sq km.

Bidders have the flexibility to define the footprint of their projects within the block, allowing them to tailor development plans to match individual strategies and market needs. This approach ensures both transparency and scalability, attracting a wide range of potential investors and developers.

Strong market interest

The auction has already drawn significant attention, with nearly 100 registrations from leading industry players and consortia spanning the green hydrogen value chain. This robust response underlines the growing interest in structured, policy-backed green hydrogen investment opportunities.

Round 3 continues to attract first movers and institutional investors eager to establish or expand their presence in a competitive and well-regulated market.

Encouraging participation and consortium building

The Statement of Qualification (SoQ) submission window remains open until 31 October 2025. Hydrom encourages all interested participants to register and submit their documents through the dedicated online platform.

To support the creation of strong project consortia, Hydrom will also release an updated consortium matchmaking list, a tool that has successfully connected qualified participants with strategic partners in previous rounds.

By combining a supportive fiscal framework, flexible auction design, and tools to facilitate collaboration, Hydrom is setting the stage for accelerated growth of Oman’s green hydrogen sector while attracting global investment.

his new solution enables organisations to respond efficiently to requests for proposals

Travanleo, a prominent ESG and sustainability technology company with offices in the UAE and India, has announced the launch of Carbon Xpress, a specialised solution within its flagship platform, Ecodrisil ESG Xpress.

Carbon Xpress is designed to help enterprises swiftly capture, calculate, and report greenhouse gas (GHG) emissions, simplifying and accelerating the emission disclosure process.

This new solution enables organisations to respond efficiently to requests for proposals (RFPs), supplier qualification programmes, investor inquiries, and climate-linked financing needs.

Carbon Xpress allows teams to produce audit-ready carbon reports aligned with globally recognised standards, eliminating much of the complexity, manual effort, and delays that typically hinder ESG reporting.

At the heart of Carbon Xpress is ESGAI, Ecodrisil’s integrated AI co-pilot that streamlines the entire carbon emission reporting lifecycle.

From data collection and validation to automated report drafting, ESGAI ensures faster turnaround times and greater confidence in disclosures, even when faced with tight deadlines.

Carbon Xpress offers guided workflows that enable rapid onboarding of emission data from both internal systems and value chain partners.

It automates emission calculations across Scope 1, Scope 2, and select Scope 3 categories by utilising built-in emission factors and calculators.

The platform generates reports that comply with frameworks such as the GHG Protocol and CDP, among other investor-preferred standards.

It also produces submission-ready documents tailored for RFPs, due diligence processes, or regulatory filings.

The solution is already gaining momentum in the industry, with early adopters spanning multiple sectors.

For example, a global technology company based in Europe is using Carbon Xpress to prepare Scope 1 and 2 emission disclosures for a significant RFP submission.

Meanwhile, a leading chemical manufacturer in the Gulf Cooperation Council (GCC) region is integrating the platform to meet increasing supplier evaluation and ESG scoring requirements from international buyers.

Both companies chose Carbon Xpress for its ability to deliver rapid, standards-compliant reporting within stringent timelines, and implementations are currently in progress.