{"id":118170,"date":"2026-06-10T00:00:00","date_gmt":"2026-06-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/?p=118170"},"modified":"2026-06-10T02:56:24","modified_gmt":"2026-06-10T02:56:24","slug":"alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2026\/06\/10\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/","title":{"rendered":"Alcazar locks in USD 420 mn deal to manage Gabal El Zeit"},"content":{"rendered":"

Alcazar sec<\/strong>ures Gabal El Zeit mandate:<\/strong> Alcazar Energy inked a USD 420 mn agreement to operate, manage, maintain, and upgrade the 580 MW Gabal El Zeit wind farm, according to a statement<\/a> from the Egyptian cabinet.<\/p>\n

Upgrades are coming: <\/strong>Alcazar will handle all renovation and efficiency upgrades to boost production capacity, maintaining a minimum output of 580 MW. The Egyptian Electricity Transmission Company will off-take all energy generated throughout the duration of the contract under a power purchase agreement inked between the two sides. <\/p>\n

While the statement announcing the agreement was light on details<\/strong>, we were previously told<\/a> that the cost of electricity produced by Alcazar will be denominated in USD but settled in EGP at the prevailing exchange rate \u2014 a move that will shield the developer from currency volatility.<\/p>\n

Better late than never:<\/strong> We first caught wind of the takeover in February when a government source told EnterpriseAM that the acquisition would wrap up later that month at a price exceeding USD 420 mn. Weeks later, we were told that the acquisition would be finalized in March.<\/p>\n","protected":false},"excerpt":{"rendered":"

Alcazar will handle all renovation and efficiency upgrades to boost production capacity<\/p>\n","protected":false},"author":1,"featured_media":118171,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[1604],"tags":[2609,23,143,7],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-118170","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-alcazar","tag-egypt","tag-energy","tag-enterpriseam-uae","wpautop","entry"],"acf":{"mongo_id":"76a505fe-e2ea-4e77-af3e-17e99d12b57a","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/6\/536.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Alcazar to run Egyptian wind farm","related_issue":[118162],"teaser":"Alcazar will handle all renovation and efficiency upgrades to boost production capacity"},"yoast_head":"\nAlcazar locks in USD 420 mn deal to manage Gabal El Zeit - UAE<\/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\/uae\/2026\/06\/10\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alcazar locks in USD 420 mn deal to manage Gabal El Zeit\" \/>\n<meta property=\"og:description\" content=\"Alcazar will handle all renovation and efficiency upgrades to boost production capacity\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/uae\/2026\/06\/10\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/\" \/>\n<meta property=\"og:site_name\" content=\"UAE\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-10T00:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-06-10T02:56:24+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/536.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2026\/06\/10\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2026\/06\/10\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Alcazar locks in USD 420 mn deal to manage Gabal El Zeit\",\"datePublished\":\"2026-06-10T00:00:00+00:00\",\"dateModified\":\"2026-06-10T02:56:24+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2026\/06\/10\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/\"},\"wordCount\":186,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/uae\/2026\/06\/10\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2026\/6\/536.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Alcazar\",\"Egypt\",\"energy\",\"EnterpriseAM UAE\"],\"articleSection\":[\"ENERGY\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/uae\/2026\/06\/10\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/\",\"url\":\"https:\/\/enterpriseam.com\/uae\/2026\/06\/10\/alcazar-locks-in-usd-420-mn-deal-to-manage-gabal-el-zeit\/\",\"name\":\"Alcazar locks in USD 420 mn deal to manage Gabal El Zeit - 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