ewpartners (formerly eWTP Arabia Capital), the first international investment firm to establish a MENA-Asia cross-border platform, has entered the energy transition sector with a strategic investment in United Solar Holding Inc., a leading company in the sector. This marks ewpartners’ first investment in the energy transition sector, with a tens of millions of USD investment in United Solar’s 100,000-ton polysilicon plant located in the Sohar Port Free Zone in Oman. The project is planned with a total investment of 1.6 billion USD.
ewpartners is expanding its investment focus to include energy transition and related supply chains, following its success in sectors like digital infrastructure and logistics.
According to the International Energy Agency (IEA), global renewable energy investments is expected to reach $1.3 trillion by 2030, with solar and wind energy leading the way. Countries such as Saudi Arabia, the UAE, and Oman are driving energy transitions, reducing oil and gas dependence, and promoting sustainable development. These efforts are rapidly growing the region’s renewable energy market, positioning it as one of the most promising globally.
As a forward-looking investor, ewpartners is driving regional economic transformation with targeted investments in energy transition supply-chains and related technologies, solidifying its presence across key MENA markets. The United Solar project is a cornerstone of this vision, paving the way for future investments in this sector.
This investment marks the second investment of its Technology Innovation Fund II, following a $50 million commitment to Lenovo’s supply chain business, Leshines, in November. The commitment to supporting emerging projects with significant potential to transform the region underscores ewpartners' dedication to accelerating the green energy transition.
Cliff Chau, Managing Partner at ewpartners commented: “The market potential for green energy in the Middle East is significant. As the region looks to diversify its economies away from oil and gas dependency, major initiatives like the Red Sea Project, the UAE Energy Strategy 2050, and Oman’s Ibri II Solar Project target cities and projects run entirely on renewable energy. Solar power promises substantial growth opportunities for investors given these ambitions and the region’s abundance of sunlight. Technological advancements such as energy storage solutions and grid modernization accelerate this shift further.”
He added, “ewpartners has successfully created and invested in businesses across the Middle East since 2017. We support industries which are critical to the economic diversification of the region and have created market leaders in the fields of logistics and digital infrastructure, such as Saudi Cloud Computing Company (SCCC) and J&T Express. Now, we turn our attention also to the energy transition sector so that we can help drive the Middle East’s commitment to delivering a sustainable future based on the energy transition. We’re delighted to make this investment, and we look forward to more to come.”
