Company Insights Arab Energy Fund (Apicorp) Banking & Finance Arab Energy Fund (Apicorp) Overview The Arab Energy Fund (TAEF) – formerly known as Apicorp, or the Arab Petroleum Investments Corporation – is a multilateral impact fund focused on the Middle East and North Africa’s energy sector. The fund supplies credit facilities, trade and commodity finance facilities and financial advisory services. TAEF was established in 1974 by the 10 Arab oil-exporting countries: Algeria, Bahrain, Egypt, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, Syria and the UAE. It began operations with $183 million in assets and launched its first loan facility the Arab Petroleum Pipelines Company, in 1976. Equity stakes were subsequently acquired in companies in Bahrain, Libya, Iraq, Saudi Arabia and elsewhere. In 1986 assets passed $1 billion. TAEF’s emphasis is now on investments in renewable energy and sustainability projects and decarbonisation technologies. Environmentally and socially linked projects comprise around a quarter of its loan portfolio. TAEF’s strategy is built on two strategic pillars: to become a leading impact investor in Mena’s energy sector and to enhance corporate lending profits. It is wholly owned by the 10 member states of the Organisation of Arab Petroleum Exporting Countries (OAPEC). Authorised capital is $20 billion, subscribed capital is $10 billion, paid-up capital is $1.5 billion and callable capital is $8.5 billion. Arab Energy Fund (Apicorp) News Infrastructure Arab Energy Fund-led group buys Dubai-based Metito A consortium led by the Arab Energy Fund (TAEF), formerly Apicorp, has acquired a 100 percent stake in Metito Utilities, a Dubai-based water and wastewater project developer. The acquisition was carried out in collaboration with Saudi Arabia’s Zamil Group Investment Company and the Ghandour family, the founders of Metito. No financial details were given. Metito […] January 9, 2025 Energy Arab Energy Fund reveals second year of record income The Arab Energy Fund, previously known as Apicorp, has announced a second consecutive year of record net income. The fund, which is based in Riyadh and focused on the Mena energy sector, announced net income of $225 million in 2023, up by more than half on 2022’s figure. The Arab Energy Fund (TAEF) said the […] March 20, 2024 EXCLUSIVE Renewable Energy Yellow Door targets South Africa and Saudi Arabia Yellow Door Energy, the Dubai solar electricity provider that has raised nearly $500 million in funding from investors, is targeting South Africa and Saudi Arabia as key growth markets. The company builds bespoke solar power plants for corporate clients, usually at their premises. These include factories, offices, shopping malls and warehouses. Yellow Door also finances, […] December 20, 2023 Energy Arab Energy Fund pledges $1bn for energy transition The Arab Energy Fund, formerly known as Apicorp, is planning to invest up to $1 billion over the next five years in energy transition, including decarbonisation technologies. Based in Saudi Arabia, Apicorp – the Arab Petroleum Investments Corporation – was founded in 1975 by the ten Arab oil-exporting states. The latest investment announcement is part […] December 5, 2023 Banking & Finance PIF’s $5.5bn green bond sets tone for ‘strong pipeline’ in Mena Saudi Arabia’s sovereign Public Investment Fund has raised $5.5 billion through its latest green bond issuance, supporting expectations of a strong year for sustainable bonds in the Middle East. The issuance was more than six times oversubscribed – with books exceeding $33 billion – and will be used to finance or refinance eligible green projects, […] February 13, 2023 Banking & Finance Apicorp signs $75m carbon offset financing deal with UK firm The Arab Petroleum Investments Corporation (Apicorp), a Saudi-headquartered, energy-focused development financial institution, has signed a $75 million Islamic financing agreement with a British firm to fund high-quality carbon offsets, supporting the Gulf’s net zero emission targets. The agreement, known as a Murabaha, is an Islamic financing facility where a financier will purchase an asset and […] November 7, 2022 Energy Dutch engineer’s remote-control craft to monitor Gulf oil and gas Dutch civil engineer Fugro is launching uncrewed surface vessels (USVs) to monitor oil and gas infrastructure in the waters off the UAE. The 12-metre-long vessels are controlled from the shore without the need for any crew. Conventional craft that inspect offshore assets have six to seven crew members and operate on shift patterns; the USVs […] September 27, 2022 Energy G7 should opt for fuel tax cut over price cap, says Saudi-based analyst A proposal by the G7 group of leaders to look at the feasibility of introducing a price cap on energy imports was dismissed as “highly doubtful” by a top Saudi-based energy analyst. A report by the Financial Times on Tuesday claimed that the G7 leaders – which includes Canada, France, Germany, Italy, Japan, the UK […] June 29, 2022 Analysis Energy Gulf defies oil financing trends as UN calls for end to fossil fuels The Middle East is boosting investment in oil and gas, bucking the global trend even as the United Nations calls for an end to the funding of fossil fuel projects. The MENA region is forecast to invest $879 billion in energy projects from 2022 to 2026, an increase of 9 percent over the previous five […] June 20, 2022 Posts navigation
Infrastructure Arab Energy Fund-led group buys Dubai-based Metito A consortium led by the Arab Energy Fund (TAEF), formerly Apicorp, has acquired a 100 percent stake in Metito Utilities, a Dubai-based water and wastewater project developer. The acquisition was carried out in collaboration with Saudi Arabia’s Zamil Group Investment Company and the Ghandour family, the founders of Metito. No financial details were given. Metito […] January 9, 2025
Energy Arab Energy Fund reveals second year of record income The Arab Energy Fund, previously known as Apicorp, has announced a second consecutive year of record net income. The fund, which is based in Riyadh and focused on the Mena energy sector, announced net income of $225 million in 2023, up by more than half on 2022’s figure. The Arab Energy Fund (TAEF) said the […] March 20, 2024
EXCLUSIVE Renewable Energy Yellow Door targets South Africa and Saudi Arabia Yellow Door Energy, the Dubai solar electricity provider that has raised nearly $500 million in funding from investors, is targeting South Africa and Saudi Arabia as key growth markets. The company builds bespoke solar power plants for corporate clients, usually at their premises. These include factories, offices, shopping malls and warehouses. Yellow Door also finances, […] December 20, 2023
Energy Arab Energy Fund pledges $1bn for energy transition The Arab Energy Fund, formerly known as Apicorp, is planning to invest up to $1 billion over the next five years in energy transition, including decarbonisation technologies. Based in Saudi Arabia, Apicorp – the Arab Petroleum Investments Corporation – was founded in 1975 by the ten Arab oil-exporting states. The latest investment announcement is part […] December 5, 2023
Banking & Finance PIF’s $5.5bn green bond sets tone for ‘strong pipeline’ in Mena Saudi Arabia’s sovereign Public Investment Fund has raised $5.5 billion through its latest green bond issuance, supporting expectations of a strong year for sustainable bonds in the Middle East. The issuance was more than six times oversubscribed – with books exceeding $33 billion – and will be used to finance or refinance eligible green projects, […] February 13, 2023
Banking & Finance Apicorp signs $75m carbon offset financing deal with UK firm The Arab Petroleum Investments Corporation (Apicorp), a Saudi-headquartered, energy-focused development financial institution, has signed a $75 million Islamic financing agreement with a British firm to fund high-quality carbon offsets, supporting the Gulf’s net zero emission targets. The agreement, known as a Murabaha, is an Islamic financing facility where a financier will purchase an asset and […] November 7, 2022
Energy Dutch engineer’s remote-control craft to monitor Gulf oil and gas Dutch civil engineer Fugro is launching uncrewed surface vessels (USVs) to monitor oil and gas infrastructure in the waters off the UAE. The 12-metre-long vessels are controlled from the shore without the need for any crew. Conventional craft that inspect offshore assets have six to seven crew members and operate on shift patterns; the USVs […] September 27, 2022
Energy G7 should opt for fuel tax cut over price cap, says Saudi-based analyst A proposal by the G7 group of leaders to look at the feasibility of introducing a price cap on energy imports was dismissed as “highly doubtful” by a top Saudi-based energy analyst. A report by the Financial Times on Tuesday claimed that the G7 leaders – which includes Canada, France, Germany, Italy, Japan, the UK […] June 29, 2022
Analysis Energy Gulf defies oil financing trends as UN calls for end to fossil fuels The Middle East is boosting investment in oil and gas, bucking the global trend even as the United Nations calls for an end to the funding of fossil fuel projects. The MENA region is forecast to invest $879 billion in energy projects from 2022 to 2026, an increase of 9 percent over the previous five […] June 20, 2022
