{"id":603580,"date":"2023-08-16T00:00:00","date_gmt":"2023-08-16T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/16\/govt-seeks-higher-price-for-gabal-el-zeit-wind-farm\/"},"modified":"2023-08-16T00:00:00","modified_gmt":"2023-08-16T00:00:00","slug":"govt-seeks-higher-price-for-gabal-el-zeit-wind-farm","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/16\/govt-seeks-higher-price-for-gabal-el-zeit-wind-farm\/","title":{"rendered":"Gov\u2019t seeks higher price for Gabal El Zeit wind farm"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> Gov\u2019t wants more for the Gabal El Zeit wind farm: <\/strong>The Madbouly government is in talks with Actis in a bid to convince the UK-based emerging markets private equity giant to pay USD 600-800 mn for the 580-MW <a target=\"_blank\" href=\"http:\/\/nrea.gov.eg\/test\/en\/Technology\/WindStations\" style=\"\" rel=\"noopener\">Gabal El Zeit wind farm<\/a>, a source the New Renewable Energy Authority told Enterprise. Actis\u2019 had originally submitted an offer of USD 400 mn, the source added. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The two sides opened talks after the government recognized Actis\u2019 bid as the best on <\/strong>technical andfinancial grounds from among several bidders back in June, Planning Minister Hala El Said said during a press conference last month on <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1f59098e-47ac-42cc-964c-b84096549959\" style=\"\" rel=\"noopener\">recent progress<\/a> in the state\u2019s asset sale program. She said at the time the government was looking to sell the plant for more than USD 300 mn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> What\u2019s next: <\/strong>The government aims to ink contracts by the end of October, our source said, confirming the timeline El Said gave last month. The Sovereign Fund of Egypt (SFE) has provided Actis with full data on the wind farm so that it can conduct due diligence ahead of making a final offer, <a target=\"_blank\" href=\"http:\/\/bit.ly\/45bDTvW\" style=\"\" rel=\"noopener\">Al Mal<\/a> reports, citing unnamed sources. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> There\u2019s r <\/strong><strong> oom for expansion: <\/strong> There\u2019s enough land for Actis to add more turbines and up the capacity of the wind farm to over 1 GW, the domestic press reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Remember: <\/strong>Gabal El Zeit, along with the state-owned, 545 MW <a target=\"_blank\" href=\"http:\/\/www.nrea.gov.eg\/Technology\/WindStations\" style=\"\" rel=\"noopener\">Zafarana wind farm<\/a>, was included in the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a94808c5-7a0c-4027-a786-804f2dc35954\" style=\"\" rel=\"noopener\">list of 32 companies<\/a> and assets earmarked for privatization announced by the government earlier this year. Maersk could acquire half of Zafarana after the government approved the shipping giant\u2019s ownership in principle, per <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4eb701a2-df5b-4e8c-9b58-d95b6c135bee\" style=\"\" rel=\"noopener\">a recent report<\/a> in the local press. Both wind farms have <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/860a3d68-680c-4178-8525-c01faa6818b8\" style=\"\" rel=\"noopener\">attracted significant interest<\/a> among investors, including Saudi Arabia\u2019s ACWA Power, the UAE\u2019s Alcazar Energy, and our friends at local renewables firm Infinity.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government is in talks with private equity firm Actis to sell the plant<\/p>\n","protected":false},"author":1,"featured_media":603581,"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":[922,93,72,758,81,151,587,7081],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-603580","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-privatization-watch","tag-actis","tag-energy","tag-enterpriseam","tag-private-equity","tag-privatization-watch","tag-renewables","tag-state-privatization-program","tag-wind-power","wpautop","entry"],"acf":{"mongo_id":"e0e2617c-d035-4deb-9049-f888ad35500d","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/791.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian gov\u2019t seeks higher price for Gabal El Zeit wind farm","related_issue":[603575],"teaser":"The government is in talks with private equity firm Actis to sell the plant","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.1c252639-6935-468f-a43e-f952591db80f.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>Gov\u2019t seeks higher price for 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\/08\/16\/govt-seeks-higher-price-for-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=\"Gov\u2019t seeks higher price for Gabal El 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&quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/137.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":619397,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/01\/us-international-development-finance-corporation-mulls-financing-actis-gabal-el-zeit-acquisition-plus-saudi-smes-to-expand-in-egypt-the-hub-plan-new-frozen-food-factory-uaes-hori\/","url_meta":{"origin":603580,"position":4},"title":"US International Development Finance Corporation mulls financing Actis\u2019 Gabal El Zeit acquisition. 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