ALCAZAR ENERGY MANAGEMENT SERVICES L.L.C-FZ

Thesis

Alcazar Energy Management Services L.L.C-FZ is an independent fund management company focused on utility-scale renewable energy infrastructure in emerging markets, specifically solar photovoltaic (PV) and onshore wind greenfield projects. Their strategy involves identifying countries with high energy demand where renewables are cost-competitive against traditional sources, prioritizing markets with stable legal and regulatory frameworks for foreign investment. The firm operates in the Middle East, North Africa (MENA), Western Balkans, and Central Asia, with specific interests in Egypt, Jordan, Turkey, Montenegro, North Macedonia, and Serbia. Alcazar Energy has raised over $730 million across two funds, with Alcazar Energy Partners II (AEP-II) reaching $490 million and a target of $500 million for Alcazar Energy Partners III. While specific check sizes are not detailed, the scale of investments is substantial, with potential investments of EUR 75 million to EUR 150 million in AEP-III. The firm's first fund, AEP-I, successfully developed 411 MW of solar and wind projects in Jordan and Egypt, which were acquired in August 2021. AEP-II is developing over 1.6 GW of clean energy projects, including wind farms in the Western Balkans and Montenegro. Founded in 2014, Alcazar Energy is committed to responsible investment principles and has a robust environmental and social management system.