Mergers and acquisitions are increasing as major infrastructure projects continue to be on the rise in the GCC – with clean energy projects as a main reason. Abu Dhabi is seeing many companies teaming up to form joint ventures especially after the opening of Masdar City, the world’s first zero carbon emissions city.

 

However, this extends to North Africa as renewable energy schemes have heightened, including the German-initiated Desertec project (Desertec’s New JV Plans Sahara Energy Export in Five Years). Companies are partnering for solar and wind projects in the region, and JVs are the quickest way to get plans rolling.

 

For instance, in September it was announced that MAN Ferrostaal AG and Solar Millennium AG’s JV, MAN Solar Millennium GmbH, will utilize its subsidiary Flagsol GmbH to create a new JV that will construct solar thermal power plants with over 120 employees (Solar Thermal Gets Help from MAN Ferrostaal). October saw Ormat Technologies, Inc.’s Israeli subsidiary, Ormat Systems Ltd., sign a JV agreement with Sunday Energy Ltd., an Israeli private company to develop, construct and operate solar-photovoltaic energy systems in Israel with a total capacity of 36 MW (Ormat Signs Joint Venture Agreement for Solar (PV) Power Systems). And just recently, General Electric said that it was searching for fresh acquisitions or JV partners for potential investment opportunities in the MENA region (GE Scouts for MENA Partners).