Baset Asaba, Utilities Middle East
Jasim Thabet has been appointed Chief Executive Officer and Managing Director of the newly formed Abu Dhabi Power Corporation (ADPower), an active investment manager in the water and electricity sector, to drive forward the transformation of the utilities sector in Abu Dhabi.
Mr. Thabet joins from National Central Cooling Company PJSC (Tabreed), where he was CEO. At Tabreed, Mr. Thabet successfully pioneered a new model of sustainable growth, delivering approximately 50% growth in consolidated capacity, 28% growth in revenues in the UAE and across the GCC over six years, and led Tabreed to investment grade credit ratings from Moody’s and Fitch.
Saif Mohammad Alhajeri, Chairman of ADPower said: “Jasim brings substantial sector expertise, experience and a solid track-record of success. We look forward to having him on board to lead the transformation of the sector and drive the role of the company as an active investor in the utilities sector delivering value for Abu Dhabi.”