Dubai developer Azizi launches new business to take up power projects

Dubai: The Dubai master-developer Azizi is adding a new business line - setting up power projects in emerging markets.

It will launch the first project in Afghanistan, with a planned power capacity of up to 10,000 MW.

The new entity - Azizi Energy Investments - will initially focus on Asian markets, starting with Afghanistan. This is the second new business venture that the group has launched in recent times, after earlier creating a hospitality division.

Azizi Energy, also headquartered in Dubai, will focus on the development, financing, construction, and operation of power projects across coal, gas, hydro, wind, and solar. In addition, it will take up energy infrastructure including gas pipelines and electricity transmission networks.

The 'mission is to contribute to energy security, reduce reliance on imported supply, and support economic development in markets where supply gaps remain a major barrier', said a statement.

Mirwais Azizi, Chairman of Azizi Group, said: “This new venture builds on our legacy in real estate and our belief in supporting communities through large-scale, future-oriented solutions.

"Azizi Energy will deliver innovative energy projects that create long-term value, beginning in Afghanistan, where we aim to contribute a generation mix of approximately 10,000 MW."