Abu Dhabi-based Ruya Partners (Ruya) has completed a $20 million investment into Energia, a leading temporary power solutions (TPS) provider in Saudi Arabia.
Headquartered in Jubail, Energia has a nationwide presence with offices across all major cities, a high-quality fleet, and deep engineering capabilities. The company has been a leading player in the Saudi TPS sector over the past decade and plays an integral role in providing turn-key power solutions to the Kingdom’s rapidly growing economy and its evolving power needs.
Some of Energia’s most recent projects include The Saudi Electric Company National Grid Support Project, Saudi Aramco HUGRS Gas Refinery Critical Power Project, Riyadh Metro Project, Dammam Airport Emergency Power, and significant events such as Formula 1 and Riyadh Season.
Ruya’s investment will further strengthen Energia and enable it to acquire new assets, refinance its near-term maturities, and focus on its growth initiatives, including sustainable and green energy solutions.
Rashid Siddiqi Founding Partner Ruya
“We believe in backing strong management teams with a proven track record of building and managing strong businesses within vital sectors of the economy. TPS is a sector we’ve monitored for many years within KSA. We believe the sector is critical for the economy and is well positioned to benefit from a robust cyclical growth driven by increased economic activity in infrastructure, construction, oil & gas, events, and tourism. Within the sector, Energia has done a remarkable job of building a strong reputation and securing a leading market position, we are very excited to partner with them as they continue executing on Energia’s growth journey.”
Mr. Shahid Hassan, Energia’s Founder and CEO commented that “We are keen to continue gaining market share on the back of our strong reputation for dependability, speed, and execution. As we set our sights on the next ten years, we are delighted to partner with Ruya. This partnership will enable us to accelerate our growth plans and engage on new initiatives such as sustainable and green energy solutions that we plan to launch imminently.”
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