{"id":579708,"date":"2022-11-15T13:21:33","date_gmt":"2022-11-15T13:21:33","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/15\/this-evening-does-the-sfe-want-in-on-acwas-1-1-gw-suez-wind-farm\/"},"modified":"2022-11-15T13:21:33","modified_gmt":"2022-11-15T13:21:33","slug":"this-evening-does-the-sfe-want-in-on-acwas-1-1-gw-suez-wind-farm","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/15\/this-evening-does-the-sfe-want-in-on-acwas-1-1-gw-suez-wind-farm\/","title":{"rendered":"THIS EVENING: Does the SFE want in on ACWA\u2019s 1.1 GW Suez wind farm?"},"content":{"rendered":"

Good afternoon, wonderful people. <\/strong>It\u2019s a slowish start to the news day \u2014 but we expect things to pick up later, with some exciting updates already making their way out of Energy Day at COP27.<\/p>\n

THE BIG STORY TODAY<\/strong><\/p>\n

<\/a> Is the<\/strong> SFE getting on board ACWA\u2019s 1.1 GW wind farm in Suez? <\/strong>The Sovereign Fund of Egypt (SFE) has agreed to acquire a 10% stake in Saudi renewables player ACWA Power\u2019s USD 1.5 bn, 1.1 GW wind farm in the Gulf of Suez, Bloomberg Asharq<\/a> reports, citing three sources it says are close to the transaction. That would see the fund invest as much as USD 150 mn in the project, according to our math. A final agreement will be announced \u201csoon,\u201d the sources reportedly said. News of the SFE\u2019s potential buy-in comes a week after the Omani Investment Authority (OIA)<\/a> inked an MoU with ACWA to acquire a 10% stake in the wind farm.<\/p>\n

THE BIG STORY ABROAD<\/strong><\/p>\n

The Republican Party is poised to retake control of the House of Representatives: <\/strong>The GOP is just one seat shy of the 218 it needs to secure a majority in the lower legislative chamber, after notching late-night victories on Monday in races in Arizona, New York, and California. Elsewhere in US politics, stay tuned for the expected announcement from Donald Trump today that he will be launching a bid to retake the presidency in 2024 elections. (NYT<\/a> | AP<\/a> | WSJ<\/a> | Washington Post<\/a>).<\/p>\n

The international press is also keeping tabs on the unfolding G20 summit in Indonesia<\/strong>, <\/strong>where US President Joe Biden and his Turkish counterpart Recep Tayip Erdogan held an unscheduled meeting on the down-low, according to Bloomberg<\/a>. Meanwhile, a draft communique out of the summit lays bare divisions over the Group\u2019s stance vis-a-vis the Russia-Ukraine war, according to Reuters<\/a> and the Financial Times<\/a>.<\/p>\n

\"enterprise\"<\/a><\/p>\n

From Sharm to the Grand Egyptian Museum \u2014 the business community will move the <\/strong>talk about a green transition ahead at the <\/strong>Enterprise Climate X Forum<\/a><\/strong>, which takes place at the Grand Egyptian Museum on Tuesday, 6 December 2022. We can think of no better place to discuss the world\u2019s most important industry than in a world-class museum that stands as a testament to our nation\u2019s ability to persevere (and innovate) for seven millennia. And it seems you can\u2019t either, judging by the responses and statements of support we\u2019ve been getting.<\/p>\n

What\u2019s the Enterprise Climate X Forum? <\/strong>It\u2019s our first industry-specific conference, where CEOs, top execs, investors, bankers and development finance folks have the chance to talk about how to build a climate-centered business \u2014 and how to make sure your business continues to have access to the funds it needs to grow. You can learn more on our conference website here.<\/a><\/p>\n

Some of the biggest names in business and finance are on board \u2014 are you? <\/strong>If you\u2019re a C-suite exec, business owner, climate professional, DFI staff, investor or banker, please email us at climatexrsvp@enterprisemea.com<\/a> to signal your interest, letting us know your name, title and where you work.<\/p>\n

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HAPPENING NOW-<\/strong><\/p>\n

It\u2019s <\/strong>Energy Day<\/a><\/strong> at COP27<\/strong>, featuring sessions on renewable energy, energy efficiency, and energy transformation focusing on a just transition in the energy sector. Green hydrogen is expected to step into the spotlight as a potential energy source for the future. High-level officials and energy transition champions will kick off the day with a series of opening remarks setting the stage for the \u201cenergy trilemma\u201d the world is facing.<\/p>\n

** CATCH UP QUICK<\/strong> on the top stories from today\u2019s EnterpriseAM<\/strong>:<\/p>\n