{"id":601146,"date":"2019-02-20T03:45:19","date_gmt":"2019-02-20T03:45:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/20\/actis-backed-lekela-wants-to-build-two-wind-plants-in-three-years-at-a-cost-of-usd-500-mn\/"},"modified":"2019-02-20T03:45:19","modified_gmt":"2019-02-20T03:45:19","slug":"actis-backed-lekela-wants-to-build-two-wind-plants-in-three-years-at-a-cost-of-usd-500-mn","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/20\/actis-backed-lekela-wants-to-build-two-wind-plants-in-three-years-at-a-cost-of-usd-500-mn\/","title":{"rendered":"Actis-backed Lekela wants to build two wind plants in three years at a cost of USD 500 mn"},"content":{"rendered":"

<\/a> INVESTMENT WATCH- Actis-backed Lekela wants to build two wind plants in three years at a cost of USD 500 mn: <\/b>Lekela Power<\/a> is planning to invest USD 500 mn in two wind energy projects with a combined production capacity of 500 MW over the next three years, the company\u2019s Egypt General Manager Faisal Eissa said<\/a>. One project is a 250 MW, USD 325 mn plant in Ras Ghareb, which will be completed and at full capacity by 2020-end. The facility will be one of the largest single-site wind power projects in North Africa. <\/b>Lekela has already secured USD 240 mn in financing for the project from the International Finance Corporation (IFC), the EBRD and the US government\u2019s Overseas Private Investment Corporation (OPIC). The company is also bidding in a tender for another 250 MW plant in West Nile Delta under the BOO (build, own, operate) framework, Eissa said.<\/p>\n

Background: <\/b>Background on the Ras Ghareb project is here (pdf)<\/a>. Lekela is 60% owned by emerging markets private equity giant Actis, which has invested and committed c. USD 1 bn to Egypt in sectors including energy, consumer, healthcare and financial services.<\/p>\n","protected":false},"excerpt":{"rendered":"

INVESTMENT WATCH- Actis-backed Lekela wants to build two wind plants in three years at a cost of USD 500 mn: Lekela Power is planning to invest USD 500 mn in two wind energy projects with a combined production capacity of 500 MW over the next three years, the company\u2019s Egypt General Manager Faisal Eissa said. […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[93,72,125,151,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-601146","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-energy","tag-enterpriseam","tag-investment-watch","tag-renewables","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"c59bd669-f156-4754-9c16-fa30aff5f04b","is_powered_by":true,"section_story_id":"7ab40328-d4f5-4c8a-b082-4b50f54bd1e1","story_type":"1","photo_url":"","photo_position":"above","related_issue":[601137],"teaser":"","voice_url":""},"yoast_head":"\nActis-backed Lekela wants to build two wind plants in three years at a cost of USD 500 mn - 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\/2019\/02\/20\/actis-backed-lekela-wants-to-build-two-wind-plants-in-three-years-at-a-cost-of-usd-500-mn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Actis-backed Lekela wants to build two wind plants in three years at a cost of USD 500 mn\" \/>\n<meta property=\"og:description\" content=\"INVESTMENT WATCH- Actis-backed Lekela wants to build two wind plants in three years at a cost of USD 500 mn: Lekela Power is planning to invest USD 500 mn in two wind energy projects with a combined production capacity of 500 MW over the next three years, the company\u2019s Egypt General Manager Faisal Eissa said. 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The winning company will be selected within months, Eissa said. Actis-backed Lekela had signed the power purchase\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":648719,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/04\/10\/lekela-power-to-sign-usd-350-mn-agreement-for-250-mw-wind-farm-in-2q207\/","url_meta":{"origin":601146,"position":3},"title":"Lekela Power to sign USD 350 mn agreement for 250 MW wind farm in 2Q207","author":"enterpriseam admin","date":"10 April 2017","format":false,"excerpt":"Lekela Power for New and Renewable Energy expects to sign with the Electricity Ministry a USD 350 mn agreement to establish a 250 MW wind farm in the Gulf of Suez in this quarter, Daily News Egypt reports. Lekela and the ministry had signed an MoU for the project two\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":601875,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/12\/lekela-nrea-sign-land-agreement-for-usd-325-mn-250-mw-suez-wind-farm\/","url_meta":{"origin":601146,"position":4},"title":"Lekela, NREA sign land agreement for USD 325 mn, 250 MW Suez wind farm","author":"enterpriseam admin","date":"12 March 2019","format":false,"excerpt":"Actis-backed Lekela Power has signed a land usufruct agreement with the New and Renewable Energy Authority (NREA) for its USD 325 mn, 250 MW wind farm in the Gulf of Suez, according to a cabinet statement. 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