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Mensha Ventures has signed a Memorandum of Understanding (MoU) with its strategic partner from China to jointly invest US$1 billion in green energy infrastructure projects in the region.
The MoU was signed with partners including the Asian Development Investment Bank, Hoover Investment Group and Shenzhen Huafu Investment Group (SMT) during the annual investment conference in Abu Dhabi.
The main objective of this partnership is to enhance the UAE’s sustainable development capabilities through the development of green energy infrastructure projects. The initiative will help the UAE meet its renewable energy targets while reducing its carbon footprint.
collective expertise
This partnership will help both companies leverage their collective expertise to have a lasting impact on the environment and society.
While the partnership is expected to open new avenues for sustainable investment opportunities in the region, it will also drive economic growth and contribute to the UAE’s vision for a sustainable future. Overall, this partnership between Mensha Ventures and its strategic partner from China marks an important milestone in the UAE’s efforts to achieve a sustainable future.
Additionally, Dr. Chen, Chairman of Mensha Ventures, and Mr. Sun of the Asian Development Investment Bank (ADIB) signed a memorandum of understanding to launch their new greentech fund. The fund will focus primarily on the GCC and aims to build portfolio companies with global expertise and best-in-class industry knowledge in green technologies. Leveraging China’s leading innovation and specialized manufacturing, key industries will drive cutting-edge sustainable solutions into the local ecosystem.
Electric Vehicle Infrastructure
Key industries for the Green Technology Fund will focus on new energy, including electric vehicle infrastructure, engineering, storage and transportation. It will emphasize the transition to clean energy through electricity and green hydrogen. Together with its strategic partners, Mensha Ventures will be an advocate and ambassador for the transition to a sustainable future globally, especially here in the GCC.
The GCC region has made significant strides towards sustainable solutions in recent years, with countries in the region committing to reducing their carbon footprint and meeting their renewable energy targets. The Greentech Fund aims to play an important role in this transition by investing in innovative greentech projects and driving sustainable solutions into the region’s ecosystem.
Overall, the launch of the GreenTech Fund marks an important milestone in the region’s efforts to achieve a sustainable future. By bringing together the collective expertise of Mensha Ventures and the Asian Development Investment Bank, the Greentech Fund aims to have a lasting impact on the environment and society. — trade arab news agency
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