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Sev Vettivetpillai Bailey McCann, Opalesque New York:

The Abraaj Group, an investor operating in global growth markets, is creating a new project development arm to further extend its investment capabilities energy infrastructure space. The group will focus on finding and developing energy assets in developing economies throughout the world.

"Abraaj’s ambition is to effectively manage capital across a number of energy sub-sectors," Sev Vettivetpillai, Partner and Global Head of Abraaj’s Thematic Fund Business tells Opalesque. "We will be looking specifically at renewable energy sources including geothermal, wind and solar." The firm has already started making investments in this theme. In October of last year, Abraaj announced a partnership with the Aditya Birla Group to build a gigawatt scale renewable energy platform focused on developing solar power plants in India.

In addition to renewables, the group will also be considering midstream and downstream opportunities in distribution, management and storage. "We aren't interested in taking commodity risk," Vettivetpillai says.

According to Vettivetpillai, there is a pent-up demand in emerging markets for viable energy delivery, however, many of these projects require greenfields style development which can make it difficult for private equity or other would-be investors. He adds that even when projects get to a possible financial close, often the way energy developers structure transactions can......................

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