{"id":82710,"date":"2024-02-29T00:00:00","date_gmt":"2024-02-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/02\/29\/maersk-and-actis-make-progress-on-egyptian-wind-farms-acquisition-bids\/"},"modified":"2024-02-29T00:00:00","modified_gmt":"2024-02-29T00:00:00","slug":"maersk-and-actis-make-progress-on-egyptian-wind-farms-acquisition-bids","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/02\/29\/maersk-and-actis-make-progress-on-egyptian-wind-farms-acquisition-bids\/","title":{"rendered":"Maersk and Actis make progress on Egyptian wind farms acquisition bids"},"content":{"rendered":"

Danish shipping company Maersk is stepping up its pursuit of Zafarana:<\/strong> Maersk has begun due diligence for the 545 MW Zafarana wind farm as it paves the way to submit a final offer to acquire half of the asset, Al Mal<\/a> reports, citing government sources it says have knowledge of the matter. Egypt\u2019s New and Renewable Energy Authority is reportedly providing the required information to Maersk, which is set to conduct a thorough study, examine the documents, and inspect the site in cooperation with a consultant.<\/p>\n

REMEMBER- <\/strong>Maersk had reportedly<\/a> entered the final stages of negotiation over the value of a 51% stake in October, but no ballpark has been given over how much the farm could go for. <\/p>\n

Part of a wider plan: <\/strong>The company is reportedly looking to use the power to produce greenmethanol to fuel ships and signed a framework agreement<\/a> with Egypt for a green methanol project in the Suez Canal Economic Zone last October, with the first phase requiring USD 3 bn in investment.<\/p>\n

MEANWHILE- Actis is one step closer to snapping up the Gabal El Zeit<\/strong> wind farm: <\/strong>UK-based private equity giant Actis has reportedly wrapped up due diligence on the 580 MW Gabal El Zeit wind farm, according to Al Mal\u2019s report. Negotiations between the government and the British investor over the wind farm are reportedly in advanced stages, with the government seeking to finalize the transaction in the coming weeks.<\/p>\n

Lots of interest: <\/strong>A number of local and foreign investors have shown interest in the two farms, including Saudi Arabia\u2019s Acwa Power, the UAE\u2019s Alcazar Energy, and our friends at renewables firm Infinity.<\/p>\n

The transactions could wrap up very soon:<\/strong> Egypt is set to finalize the Gabal ElZeit and Zafarana stake sales before the end of March, Egyptian Planning Minister Hala El Said said<\/a> on two separate occasions recently.<\/p>\n","protected":false},"excerpt":{"rendered":"

The sale of the two facilities will bring hundreds of mns of USD into the state\u2019s coffers<\/p>\n","protected":false},"author":1,"featured_media":82711,"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":[2016],"tags":[40,11,79,88,46],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-82710","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-egypt","tag-enterpriseclimate","tag-ma-watch","tag-renewables","tag-wind-energy","wpautop","entry"],"acf":{"mongo_id":"c94d557b-5116-4d61-af49-6b8ec4ee8e60","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/2769.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Maersk and Actis make progress on Egyptian wind farms acquisition bids","related_issue":[82703],"teaser":"The sale of the two facilities will bring hundreds of mns of USD into the state\u2019s coffers","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.14052f38-a0e2-4619-9c70-157199506145.mp3"},"yoast_head":"\nMaersk and Actis make progress on Egyptian wind farms acquisition bids - 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