I Squared Capital has launched Radiant Energy Solutions, marking its entry into the Middle East distributed renewables market.

The investment involves acquiring FAS Renewables and its subsidiary Zahra Energy, a Saudi-based solar company with over 100MWp of distributed solar projects and long-term contracts with clients including Cenomi Centers.

I Squared has committed $150 million to scale Radiant, aiming to deliver more than 1GW of behind-the-meter renewable energy, storage, and other energy transition solutions across the GCC.