Today's Edition
A. SREENIVASA REDDY (ABU DHABI)
Aquila Group, a private enterprise headquartered in Hamburg, Germany, has opened an office at Abu Dhabi Global Market (ADGM) as part of its strategic expansion into the Middle East.
Since 2001, Aquila Group has been at the forefront of innovation in clean energy and sustainable infrastructure, both as an investor and a developer.
Zaki Nuseibeh, who brings over 18 years of international banking and investment experience, has been appointed as Chief Executive Officer of Aquila Capital Middle East. He will lead the Group’s expansion across the GCC from its new base in Abu Dhabi.
“His significant experience and regional expertise will be instrumental in tapping the dynamic investment landscape in the GCC, with a focus on sustainable real asset investments,” a statement from the company said.
Aquila Capital Middle East will spearhead capital raising and investment activities in the region on behalf of funds managed by Aquila Capital, the Group’s asset management arm, which is co-owned by German bank Commerzbank. “Its activities will centre on deploying capital into energy transition and infrastructure assets, including data centres and renewable energy projects,” the statement added.
Nuseibeh, who had served as a special adviser to Aquila for the past year and a half prior to his role as the CEO, began his career as a banker in London and has been involved in various business ventures and investment funds over the years. He is also the first cousin of Zaki Nusseibeh, Cultural Adviser to the UAE President.
Speaking to Aletihad about the Group’s long-term vision and investment strategy in the region, Nuseibeh said: “We have a licence to operate out of ADGM. We've already received in-principle approval. We're waiting for the final approval, which is a fairly standard process. Hopefully we will be able to satisfy the conditions.”
Outlining Aquila’s development vision, he said: “What we do is develop, construct and operate renewable energy assets across the spectrum, whether it's solar, wind, battery storage and other assets.” Once these assets are developed, investors come into play. “Being a developer means, by definition, we are involved in the asset class right from the start. We put our own money first, and we understand the technology and we invest in it. And once we are well versed in that, we then develop strategies that would suit our client base,” he explained.
Nuseibeh highlighted that Abu Dhabi and the wider UAE are critical hubs for investment due to their long-term stability, strategic vision, and global leadership in the energy transition.
“The region is not only a place to raise capital but also one to invest in. The UAE is taking a leading role globally, especially in sustainable infrastructure, with initiatives like Masdar that began early in exploring renewable energy,” he said. “The UAE’s hosting of COP28 marked a turning point as it successfully brought global stakeholders to the same table.”
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He added that Abu Dhabi offers the kind of long-term planning and policy clarity rarely found elsewhere. “Combined with its geographic location and forward-looking governance (e.g., Vision 2071), Abu Dhabi is especially attractive to businesses looking for clarity, stability, and leadership in future-oriented sectors.”
Nuseibeh also addressed Aquila Group’s growing interest in data centres, stating that renewable energy will be a crucial component in their development. “The development of AI-enabled data centres requires not only technological sophistication but also significant energy and cooling solutions, making renewable energy a crucial component. As a group focused on renewable energy, this gives us an edge,” he said. “A lot of traditional real estate players are going into data centre development. That is not our angle.”
Aquila Group has already built a strong presence in the data centre space. “We have a platform called AQ Compute, which is developing sustainable, AI-enabled data centres across Europe,” Nuseibeh said. “And so we would certainly be talking to partners and relationships here to discuss their potential interest in these projects.”
He noted that Abu Dhabi is playing a key role in aligning with global trends, particularly in AI and clean energy. “Abu Dhabi’s leadership in energy and digital transformation, along with its ecosystem that understands and supports these evolving needs, makes it a strategic and synergistic environment for developing next-generation data centres.”
When asked about Masdar and its similarities with Aquila Group, Nuseibeh clarified that although there is no formal partnership at present, the relationship is one of mutual recognition and shared goals. “Don’t forget, they’re a very large investor in Europe. Our name comes up in multiple development projects in Europe, whether it’s in the solar space or the battery storage space, and so does Masdar,” he said.
While the two are not working together on specific initiatives currently, he acknowledged Masdar’s broader role in shaping the sector: “If you speak to Masdar, they would tell you that they are working to achieve very clear targets for energy transition. They need private investors, they need other companies to be working alongside them.”
He credited Masdar for fostering an environment that attracts collaborators. “On the contrary, I think the work of Masdar has created this atmosphere that makes it attractive for others to want to join in.”
Discussing Aquila’s global trajectory, Nuseibeh recounted the Group’s journey from Europe into Asia in 2019, supported by strategic partner Daiwa Energy & Infrastructure. “You may have noticed we have a minority shareholder in Daiwa Energy and Infrastructure, a very large Japanese conglomerate. They helped our journey in Asia.”
Now, with a team of over 100 employees in the Asia-Pacific region, Aquila Group sees its move into the Middle East as a natural next step. “We see the presence here in the Middle East, and coming into Abu Dhabi in particular, as a natural extension,” he said.
Since 2001, Aquila Group has realised significant €15.4 billion in assets under management through its commitment to sustainable investing and project development across the globe, the company statement said. The company has established itself as a leader in the energy transition space, in which it has a strong track record with over €25 billion in transactions.
