Actis to acquire Gabal El Zeit wind farms? Emerging-market private equity giant Actis is in line to acquire the state-owned 580-MW Gabal El Zeit wind farm, a government source confirmed to Enterprise following an earlier report by Asharq Business. An SFE-led committee including representatives from the finance, electricity, and planning ministries reviewed multiple initial offers, our source told us, with Actis getting top marks for both its financial offer and technical know-how.

What’s next: Due diligence + a final offer. The SFE will made full data on the wind farms available to the UK-based firm, which will inspect the facilities, and consult with experts ahead of making a final offer. The SFE’s advisors, together with the committee, will then evaluate the offer, the sources said.

We could get an official announcement today:Prime Minister Moustafa Madbouly will make an announcement about the wind farm at the press conference slated for today on the government’s privatization plans, according to Asharq’s sources.

REMEMBER- Gabal El Zeit, along with the state-owned 545-MW Zafarana wind farm, was included in the list of 32 companies and assets earmarked for privatization announced by the government earlier this year. The farms have attracted significant interest among investors, including Saudi Arabia’s ACWA Power, the UAE’s Alcazar Energy, and our friends at local renewables firm Infinity.

Actis is also eyeing the Siemens power plant: Actis, along with Malaysian power company Edra, was reported by Bloomberg last month to be interested in acquiring one of the three Siemens-built combined cycle power plants in Beni Suef. The sale of the plant, which has also been selected for privatization, could bring in as much as USD 2 bn. The two potential bidders plan to submit offers to acquire as much as 100% of the plant and operate it, the news outlet reported.

Actis has a long track record here: The firm is a major shareholder of London-listed consumer healthcarebusiness IDH and has previously invested in companies ranging from CIB to Edita. In May 2021, Actis pledged to double its energy investments in Egypt and other African countries to USD 2 bn within five years. The firm earlier this year sold its stake in Lekela Power, an Africa-focused wind power platform that owns the West Bakr wind farm.

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