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BlackRock is Betting Big on Decarbonizing The UAE

December 24, 2023
x min read

The worlds largest asset manager has a new ambition: decarbonizing the UAE.

What’s happening:

  • BlackRock has announced they will invest up to $400M into Dubai based decarbonization company Positive Zero
  • The new investment will come from BlackRock’s Diversified Infrastructure Group

The big idea:

  • Positive Zero brings decarbonization technologies to businesses across the UAE to help them get closer to net zero emissions
  • From providing solar energy, to data on energy efficiency, to on demand mobile batteries, Positive Zero helps companies lower their carbon footprint and accelerate their adoption of renewable energy

Going deeper:

  • Positive Zero was put together by Creek Capital through a merger of solar company SirajPower, energy company Taka Solutions and battery company HYPR Energy

The intrigue:

  • SirajPower recently entered into a new partnership with one of the UAE’s largest family owned companies the AW Rostamani Group to provide solar energy at four of their locations in Dubai, marking the first time ever that the family holding company has utilized solar energy

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