BlogHop

Locally based solar energy business Enviromena Power Systems has closed its Series B investment round with some impressive partners on board – Masdar’s cleantech fund and Good Energies have joined Zouk Ventures and New Energies Invest as shareholders.

The investment totals $15 million in equity and equitu warrants. Enviromena says it will use the funds to expand operations and”maintain its position as the region’s leading solar power developer”.

Dr. Sultan Al Jaber, CEO of Masdar noted that Enviromena has achieved a lot in a short period – ” those achievements have earned it the attention of some of the most well respected investors in this field. We are more than happy to continue to support the company to their next stage of development both here in Abu Dhabi and beyond”.

Masdar now becomes the largest single tiles sharesholder in Enviromena.