- BlackRock invests $400 million in Dubai’s Positive Zero for Gulf countries’ energy shift.
- Positive Zero, from Creek Capital, merges firms for decarbonisation.
Positive Zero, a Dubai-based decarbonisation firm, secured a significant investment of up to $400 million from BlackRock. The investment aims to bolster energy transition projects in Gulf countries, aiding Positive Zero’s goal.
Ed Winter, BlackRock’s diversified infrastructure head for APAC and the Middle East, commended Positive Zero’s strategic position in leveraging economic growth and energy-transition objectives. Hussain highlighted the investment’s alignment with COP28’s aim to triple renewable energy capacity by 2030 following the recent summit hosted by the UAE.
Creek Capital, a climate investment-focused entity, founded Positive Zero last year by merging SirajPower, Taka Solutions, and HYPR Energy. The co-founders of Creek Capital are Mohammed Abdulghaffar Hussain, the Managing Director of Green Coast Enterprises, and David Auriau, previously with Alstom Power and Oliver Wyman.