{"id":77645,"date":"2023-05-25T01:00:12","date_gmt":"2023-05-25T01:00:12","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/05\/25\/egypt-oman-investment-fund-to-go-live-in-4q-2023-with-focus-on-renewables\/"},"modified":"2023-05-25T01:00:12","modified_gmt":"2023-05-25T01:00:12","slug":"egypt-oman-investment-fund-to-go-live-in-4q-2023-with-focus-on-renewables","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/05\/25\/egypt-oman-investment-fund-to-go-live-in-4q-2023-with-focus-on-renewables\/","title":{"rendered":"Egypt-Oman investment fund to go live in 4Q 2023 with focus on renewables"},"content":{"rendered":"

<\/a> A joint fund being set up by the Sovereign Fund of Egypt (SFE) and the Oman <\/strong>Investment Authority (OIA) plans to start making investments in 4Q 2023<\/strong>, according to a statement<\/a> released earlier this week. The two wealth funds will target companies and projects in the pharma, food, and renewables sectors, the statement notes.<\/p>\n

We knew this was in the works: <\/strong>Speaking to the media this week during Omani Sultan Haitham bin Tarek\u2019s visit to Egypt, head of the General Authority for Freezones and Investment Hossam Heiba announced<\/a> that the two sides would establish the fund, reviving a plan first floated almost four years ago. The fund will participate in Egypt\u2019s state privatization program, he said, without disclosing the fund\u2019s value.<\/p>\n

Could it be wind? <\/strong>The OIA is reportedly mulling investments in Egypt\u2019s wind projects under its partnership with Saudi Arabia\u2019s Acwa Power, Daily News Egypt<\/a> reported, citing sources it says have knowledge of the matter. The government-owned 580 MW Gabal El Zeit<\/a>and 545 MW Zafarana<\/a> wind farms are among the assets the OIA is looking at in cooperation with Acwa Power, the sources reportedly said. The OIA plans to pour USD 1 bn this year into wind projects as part of a larger plan to invest USD 5 bn in the country, they said.<\/p>\n

REMEMBER- The wind farms have been attracting investor interest:<\/strong> Acwa Power, the UAE\u2019s Alcazar Energy, Hassan Allam Utilities, and our friends at local renewables firm Infinity are reportedly among seven companies<\/a> interested in acquiring the country\u2019s two largest wind farms. The Gabal El Zeit and Zafarana wind farms were both included in the list of 32 companies and assets<\/a> earmarked for privatization in February and have attracted significant interest among investors, with the sales reportedly expected to be completed before the end of 2023.<\/p>\n","protected":false},"excerpt":{"rendered":"

A joint fund being set up by the Sovereign Fund of Egypt (SFE) and the Oman Investment Authority (OIA) plans to start making investments in 4Q 2023, according to a statement released earlier this week. The two wealth funds will target companies and projects in the pharma, food, and renewables sectors, the statement notes. We […]<\/p>\n","protected":false},"author":1,"featured_media":77646,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[152],"tags":[184,40,1687,11,623,151,92,962,135,46,1686],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-77645","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-acwa-power","tag-egypt","tag-egypt-oman-investment-fund","tag-enterpriseclimate","tag-gabal-el-zeit","tag-investment-watch","tag-oman","tag-oman-investment-authority","tag-sovereign-fund-of-egypt","tag-wind-energy","tag-zafarana","wpautop","entry"],"acf":{"mongo_id":"66450aa7-3836-4276-8127-1df36bd9f282","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/5\/1925.jpeg","photo_position":"above","related_issue":[77633],"teaser":"","voice_url":""},"yoast_head":"\nEgypt-Oman investment fund to go live in 4Q 2023 with focus on renewables - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/05\/25\/egypt-oman-investment-fund-to-go-live-in-4q-2023-with-focus-on-renewables\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt-Oman investment fund to go live in 4Q 2023 with focus on renewables\" \/>\n<meta property=\"og:description\" content=\"A joint fund being set up by the Sovereign Fund of Egypt (SFE) and the Oman Investment Authority (OIA) plans to start making investments in 4Q 2023, according to a statement released earlier this week. 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