Carsten Hagg: New Energy a Multi-Billion Dollar Opportunity Exclusive
Times Monaco catches up with Carsten Hagg, one of the principal shareholders of an up-and-coming energy enterprise, to discuss the next chapter of his exciting journey as an emerging player in the energy sector.
Please tell us about your journey, goals, vision, and approach to making it all happen. It is your first time opening up on a personal level. Until now, you have avoided the spotlight: you’re not on Facebook, Instagram, Twitter, or LinkedIn. And now you are doing this exclusive. Why now?
They say that life comes down to a few moments. There’s always uncertainty – no one knows the future, but I believe that opportunity favors pragmatic people who think positively and act decisively, even in difficult situations. For me, the opportunity to have an interview with Times Monaco is one of those moments.
Why do you live in Dubai? Why did you give your successful real estate business a temporary rest and instead invest in a completely different sector with many global players and inextricably linked to geopolitics, the energy sector?
Great questions. Let’s start with Dubai. Dubai is not for everyone — you either love or hate it; there is no middle ground. I fell in love with this city the moment I arrived, and I am grateful every day for being able to call it home. The scene here fills me with positive energy, inspiring me to tackle any challenge that comes my way. The city gives you the freedom and – above all – the flexibility to adapt to situations. It truly embodies the very best of innovative and creative self-expression. It’s also very safe – the sense of security it offers is unlike anything I’ve experienced anywhere else. And now, they’re doing more and more to make Dubai a place to live for the long term. I’m hoping to be here for many more years to come.
And talking about this serious step-change in business, I’d like to say that I’m principled and very goal-oriented, and this one came to me by happenstance, by doing the “right thing.” Unfortunately, a friend of mine had a moment when he was under financial pressure, so I started helping him with funding and guidance. Once I got into the details, I quickly sensed a tremendous opportunity at hand, one that would require the very best of my abilities to execute but would create significant enterprise value.
That sounds interesting. Could you elaborate a little?
Years ago, my friend – and now my business partner – invested in the oil and gas industry in a nation that was more of a frontier market at the time. It has since become an attractive market, with its national efforts leading it to become a member of the UN, NATO, the WTO, the OSCE, the Council of Europe, CEFTA, the World Bank, and now a candidature for EU membership. When I came in, the business was valued at around $300 million, and together we’ve grown it to over a billion dollars. While this has all been an amazing journey, it’s what’s coming next that’s exciting: we now have the scale, resources, infrastructure, and geography, to create more value as the world transitions to more environmentally conscious energy systems to address climate change. While we have rich oil and gas resources, we are simultaneously advancing solar and wind energy projects, with our initial focus on a solar hybrid park capable of generating 273 MW, which we anticipate completing by mid-2024. Overall, the opportunity at hand has the potential to increase shareholder value in the billions significantly
This sounds like a tall order with a major investment ask. How do you plan to achieve all of this?
Our strong and experienced management team has navigated many challenges and persevered through crises, earning trust and reputation among our shareholders and partners inside and outside the organization. As a step toward increasing transparency and easing access to capital markets, our goal this year is to become the first Liechtenstein PLC to be listed on the Hong Kong Stock Exchange by year-end.
Ahead of the IPO, are there still opportunities for potentially interested parties to get involved?
I appreciate you asking this question. Our IPO consortium has already been confirmed and includes top-tier law firms, banks, and service providers; however, our next funding round is coming. We are looking to raise up to $250 million to meet our current financial requirements and capitalize on our rapid growth potential. We are definitely open to discussions with private investors and other interested parties.
What are your personal goals for 2023?
The year 2023 will be exciting, intense, and demanding; however, I intend to spend any free time with the most beautiful, dearest, and wonderful woman in my life, my fiancée – Guiselle. After the listing on the stock exchange, I also look forward to allocating more of my time toward personal and social pursuits.
Thank you for the lovely and, above all, open conversation. I am very confident you will achieve all your goals. Your power, your energy, and this positive flow are just incredible.
For any questions, please contact us: c.hagg@centurioncapital.ch