{"id":589914,"date":"2023-07-11T00:00:00","date_gmt":"2023-07-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/11\/actis-in-pole-position-to-acquire-gabal-el-zeit-wind-farm\/"},"modified":"2023-07-11T00:00:00","modified_gmt":"2023-07-11T00:00:00","slug":"actis-in-pole-position-to-acquire-gabal-el-zeit-wind-farm","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/11\/actis-in-pole-position-to-acquire-gabal-el-zeit-wind-farm\/","title":{"rendered":"Actis in pole position to acquire Gabal El Zeit wind farm"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Actis to acquire Gabal El Zeit wind farms? <\/span><span style=\"\">Emerging-market private equity <\/span><span style=\"\">giant Actis is in line to acquire the state-owned 580-MW <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/www.nrea.gov.eg\/Technology\/WindStations\" style=\"\">Gabal El Zeit wind farm<\/a><\/span><span style=\"\">,<\/span><span style=\"\"> a government source confirmed to Enterprise f<\/span><span style=\"\">ollowing an earlier report by <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/bit.ly\/44fMTQ1\" style=\"\">Asharq Business<\/a><\/span><span style=\"\">. <\/span><span style=\"\">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. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What\u2019s next: Due diligence + a final offer.<\/span><span style=\"\"> 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\u2019s <\/span><span style=\"\">advisors<\/span><span style=\"\">, together with the committee, will then evaluate the offer, the sources said<\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We could get an official announcement today<\/span><span style=\"font-weight:700\">:<\/span><span style=\"\">Prime Minister Moustafa Madbouly will make an announcement about the wind farm at the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ede49532-c9e9-42b0-868e-6a30ed727b33\" style=\"\">press conference<\/a><\/span><span style=\"font-weight:400;\"> slated for today on the government\u2019s privatization plans, according to Asharq\u2019s sources.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REMEMBER- <\/span><span style=\"\">Gabal El Zeit, along with the state-owned 545-MW <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/www.nrea.gov.eg\/Technology\/WindStations\" style=\"\">Zafarana wind farm<\/a><\/span><span style=\"\">, was included in the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a94808c5-7a0c-4027-a786-804f2dc35954\" style=\"\">list of 32 companies<\/a><\/span><span style=\"\"> and assets earmarked for privatization announced by the government earlier this year. The farms have <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/860a3d68-680c-4178-8525-c01faa6818b8\" style=\"\">attracted significant interest<\/a><\/span><span style=\"font-weight:400;\"> among investors, including Saudi Arabia\u2019s ACWA Power, the UAE\u2019s Alcazar Energy, and our friends at local renewables firm Infinity.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Actis is also eyeing the Siemens power plant: <\/span><span style=\"\">Actis, along with Malaysian power company Edra, was <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/99547fd0-f6f6-4c75-adb8-13465d399413\" style=\"\">reported by Bloomberg last month<\/a><\/span><span style=\"\"> to be interested in <\/span><span style=\"\">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. <\/span><span style=\"font-weight:400;\">The two potential bidders plan to submit offers to acquire as much as 100% of the plant and operate it, the news outlet reported.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Actis has a long track record here:<\/span><span style=\"\"> The firm is a major shareholder of London-listed <\/span><span style=\"\">consumer healthcare<\/span><span style=\"\">business IDH and has previously invested in companies ranging from CIB to Edita.<\/span><span style=\"\"> In May 2021, Actis <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/aa21736a-2fa2-46af-9c21-960fab5af043\" style=\"\">pledged to double its energy investments<\/a><\/span><span style=\"\"> in Egypt and other African countries to USD 2 bn within five years. The firm earlier this year <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/d9df9648-599a-4fa1-a95b-588d22b7ab85\" style=\"\">sold its stake in Lekela Power<\/a><\/span><span style=\"\">, an Africa-focused wind power platform that owns the West Bakr wind farm.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Actis\u2019 offer is the best financial and technical fit among the submitted offers<\/p>\n","protected":false},"author":1,"featured_media":589915,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","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":[7321],"tags":[922,72,125,758,81,151,370],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-589914","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-privatization-watch","tag-actis","tag-enterpriseam","tag-investment-watch","tag-private-equity","tag-privatization-watch","tag-renewables","tag-sovereign-fund-of-egypt","wpautop","entry"],"acf":{"mongo_id":"4c85167d-b810-4227-af8a-6b615716e368","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/5\/594.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Actis favorite to acquire 580-MW Egyptian Red Sea wind farm","related_issue":[589909],"teaser":"Actis\u2019 offer is the best financial and technical fit among the submitted offers","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/7\/.a3635af0-604d-47fa-81b9-5aa069375532.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Actis in pole position to acquire Gabal El Zeit wind farm - EnterpriseAM Egypt<\/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\/egypt\/2023\/07\/11\/actis-in-pole-position-to-acquire-gabal-el-zeit-wind-farm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Actis in pole position to acquire 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