Investment firm Stonepeak has launched WahajPeak, a new renewable energy platform focused on developing utility-scale solar, wind and battery storage projects across the Middle East.
The platform, Stonepeak’s first in the region, will pursue opportunities across the Gulf Cooperation Council (GCC) and wider Middle East, driven by national policies aimed at decarbonisation, energy diversification, and grid modernisation.
“Governments across the Middle East and North Africa are targeting the deployment of approximately 175GW of renewable energy capacity by 2030, creating a rapidly growing need for reliable, utility-scale infrastructure,” said Mothana Qteishat, WahajPeak’s newly appointed chief executive. Qteishat previously served as vice president at Jinko Power and has overseen the delivery of over 5GW of solar capacity, including two of the world’s largest projects at the time of their commissioning.
Stonepeak said WahajPeak builds on its global experience in renewable energy investment and infrastructure development. The company’s portfolio includes 10.4GW of renewable assets in operation, construction or development across solar, wind and energy storage sectors.
“With the establishment of WahajPeak, we are furthering our commitment to the region,” said Hajir Naghdy, senior managing director and head of Asia and the Middle East at Stonepeak. “We look forward to leveraging our local presence and significant experience building and scaling pan-regional platforms as we work with Mothana and team to grow WahajPeak.”
Ryan Chua, senior managing director at Stonepeak, added: “WahajPeak is a great example of Stonepeak’s approach to platform creation—combining exceptional talent with long-term capital, and our sector capabilities and network, to deliver essential infrastructure.”
The move follows a series of renewable platform launches by Stonepeak globally, including Peak Energy in Asia, Synera Renewable Energy, Madison Energy Investments in North America, JouleTerra in Europe, and Longview Infrastructure in the United States.
