Mubasher: The private equity firm Blackstone Group announced that it has launched a new energy firm named “Zarou” to provide energy-related services in the Middle East and North Africa (MENA) and neighboring countries.

Blackstone Energy Partners has joined a partnership with an experienced management team, led by Sameh Shenouda, the former Head of Infrastructure Equity Investments at CDC Group, to create Zarou.

The new company, fully owned by Blackstone, will develop, finance, construct and operate energy-related projects in MENA, according to Blackstone’s recent statement.

Zarou’s focus is thermal and renewable power opportunities and will include oil and gas midstream and water assets.

“We have the flexibility to participate in projects throughout the development lifecycle, from concept stage through construction to operating stage, and I believe we are well-positioned to be a value-added partner in the region’s energy sector.” Shenouda, CEO of Zarou, said.

Blackstone did not state further details about Zarou’s total capital.