Lekela Power to sign contracts for USD 350 mn wind farm project by year-end

Lekela Power for New and Renewable Energy is expected to sign the contracts for its USD 350 mn, 250 MW wind farm in the Gulf of Suez by year-end, Actis Partner Sherif El Kholy tells Al Masry Al Youm. Actis, an emerging markets equity player, owns 60% of Lekela. El Kholy had previously said the contracts would be signed by July. Separately, El Kholy says Actis recently reached final closing on its fourth energy fund, Actis Energy 4, at USD 2.75 bn, some of which will be used to fund its Egypt projects.