In the ensuing quarter century, Mr. Al-Mazeedi and Mitsue Oishi have started two companies that have made widespread access to electricity a reality for even the poverty-stricken residents of North Africa, the Middle East, China, and more. After beginning his career working as an engineer in a refinery, he seamlessly transitioned to the Kuwait Petroleum Corporation, where he was an investment analyst. With over two decades of experience under his belt, Wael Al-Mazeedi has become known worldwide as an expert at developing and financing large-scale energy projects. The BTU Group, which he started in 2001, boasts a current net worth of over one billion dollars.
|From BTU Ventures|
BTU Power – a private equity fund – manages huge quantities of power generation (11,000 Megawatts of power generation potential to be precise). Located throughout the United Arab Emirates, South Korea, Taiwan, and Tunisia, these projects are developed and managed by BTU Power. Mr. Al-Mazeedi – who additionally serves as Managing Partner of BTU Power – oversaw the acquisition of the Carthage Power Company, a 471 Megawatt power plant located in Rades, Tunisia. BTU Power became the majority of owner of CPC when it purchased 60% of the private plant that produces and then sells nearly a full quarter of all electricity consumed in Tunisia to STEG, the Tunisian national electric and gas utility.
|From BTU Ventures|
The collaborative success story of Mr. Al-Mazeedi and Mitsue Oishi has been nothing short of remarkable. BTU aims to create a universally accessible, sustainable energy infrastructure in order to transform the global energy industry. Wael Al-Mazeedi envisions the global energy industry as an impetus for economic growth and technological advancement. “At BTU, we aim to create a new type of energy company that will pioneer a sustainable business model,” Mr. Al-Mazeedi explained. “BTU’s goal is to lead the way in the development of globally accessible and sustainable energy infrastructure in a world that is in the early stages of a transformation to a multi-source energy future.”