Energia, Saudi-based equipment rental and solutions provider, has raised $20m UAE’s private credit firm Ruya Partners.
This investment will be used by Energia to acquire new assets, refinance near-term maturities and fund growth initiatives.
“As we set our sights on the next 10 years, we are delighted to partner with Ruya. This partnership will enable us to accelerate our growth plans and engage in new initiatives such as sustainable and green energy solutions that we plan to launch imminently, ” Shahid Hassan, Energia’s founder and chief executive said.
Energia will also be targetting an increase in their market share, as well as supporting KSA’s Vision 2030 by providing “green energy solutions in solar hybrid, hydrogen fuel cells, and natural gas.” according to Energia’s general manager Mohin Shaikh.
Read more: Saudi Arabia to invest $5bn to achieve self-sufficiency in poultry meat production
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