Apex Energy + Enercap form JV

Apex Energy + Enercap form JV: Apex Energy, a subsidiary of Apex Investments, and French renewables outfit Enercap SPV formed a joint venture, Enercap Energy Holding, to manufacture energy storage solutions and power management systems in the UAE, according to an ADX disclosure (pdf). Apex will hold a 65% stake in the JV, while Enercap will control 35%.

The details: The new venture will build a 10-GW manufacturing plant in Abu Dhabi’s Mussafah Industrial Zone, branded as Enercap Manufacturing. It will also acquire and develop an existing facility in Dubai Industrial City, increasing its capacity to 6 GW, and rebranding it as ERL Power Industries.