News

Omani fund to invest in renewable energy

Wind_turbinesOman-based active fund manager Rakiza, which counts the country’s sovereign wealth fund as one its biggest investors, is reportedly looking to increase its investment in Oman’s renewable energy market. Rakiza’s infrastructure-focused fund is backed by the State General Reserve Fund which was launched in 2018 as a way to provide international investors access to Oman’s infrastructure sector. Rakiza’s chief financial officer Nigel Govett told the Oman Observer newspaper that it is looking to actively invest in the renewables sector which he sees as “a growth opportunity as well an opportunity for Oman to diversify in line with the country’s 2020 and 2040 vision strategies”. Govett said that the firm is looking at the economics of various renewable projects to ensure they “meet investor demand and appetite and the promise we made to investors”. “We are excited about the fact these projects are coming to market and not solely being done by the government,” said Govett. “It’s an opportunity for us to bring foreign direct investment into the country.” © 2020 funds global mena

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