Actis favorite to acquire 580-MW Egyptian Red Sea wind farm

Asharq Business reports that 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.

What’s next: Due diligence + a final offer. 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’s advisors, together with the committee, will then evaluate the offer, the sources said.

We could get an official announcement today:Prime Minister Moustafa Madbouly will make an announcement about the wind farm at the press conference slated for today on the government’s privatization plans, according to Asharq’s sources.

REMEMBER- Gabal El Zeit, along with the state-owned 545-MW Zafarana wind farm, was included in the list of 32 companies and assets earmarked for privatization announced by the government earlier this year. The farms have attracted significant interest among investors, including Saudi Arabia’s ACWA Power, the UAE’s Alcazar Energy, and our friends at local renewables firm Infinity.

Actis is also eyeing the Siemens power plant: Actis, along with Malaysian power company Edra, was reported by Bloomberg last month to be interested in 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. The two potential bidders plan to submit offers to acquire as much as 100% of the plant and operate it, the news outlet reported.