UK-based Quercus Investment Partners has opened its Middle East office in Dubai, UAE, as investment in renewables gathers momentum across the GCC region.

The firm presently operates from offices in London (UK), Milan (Italy) and Dubai (UAE), with an international senior management team.

Quercus is a company registered in London and regulated by the Financial Conduct Authority (FCA), which offers advice to investors interested in allocating funds to renewable energy infrastructure projects.

The company is positioned to become one of the largest European investors in renewable energy within the next five years, said a statement from the company.

The International Energy Agency has said that the world's capacity to generate electricity from renewable sources has now overtaken coal, which indicates a clear market shift in favour of renewables.

The global installed capacity for renewables is set to increase by 69 per cent over the next 15 years, according to experts. Renewable energy sources show resilience against market conditions, and in particular the recently volatile price of oil.

European governments are planning to power 20 per cent of production from renewables by 2020, while Dubai's Dewa has made a solid investment in solar power with its Mohammed Bin Rashid Al Maktoum Solar Park development, the largest single-site solar project in the world, it added.

Diego Biasi, co-founder and CEO of Quercus, said: “In the last couple of years we have seen a lot of interest in renewable energy from GCC investors.”

“This is an ideal moment for us to establish a permanent presence in the region, as GCC member states have announced plans to invest up to $100 billion in renewable projects during the next two decades,” he said.

“Investment in renewables is no longer just a subject of debate among the investment community, and there are plenty of questions around which funds to choose. The UAE has a clear vision for a sustainable future beyond the hydrocarbon era, so it is an ideal market for us to present opportunities for pursuing competitive returns in the sector,” he added. – TradeArabia News Service