Arcapita GCC Utilities Development I

Veolia

In March 2007, Arcapita formed Arcapita GCC Utilities Development I. AGUD I is a joint venture with Veolia Energy Gulf W.L.L., in a GCC portfolio of utilities 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 high-density office, retail and residential developments, servicing entire districts efficiently through a centralized plant. By using chilled water as the cooling mechanism, it requires lower energy inputs, incurs lower operational costs, lower maintenance costs and is quieter and less visible than the conventional alternative.

Investment Type

Private Equity

Region

Middle East

Investment Date

March 2007