Egypt - The Sovereign Fund of Egypt (TSFE) has reached a preliminary agreement with Actis, a British direct investment company, to sell the Gabal El-Zeit wind farm for $350m, sources close to the deal told Daily News Egypt. The deal is expected to be finalized in early November, after Actis completed the due diligence process and obtained the approval of the New and Renewable Energy Authority. The station has a capacity of 580 megawatts and is located in the Red Sea governorate. Hala El-Said, Minister of Planning and Economic Development, confirmed the existence of an initial agreement to sell the wind station in an interview with Bloomberg TV on Tuesday. She said that Egypt had received five offers for the station, but did not disclose the identity of the other bidders or any other details.

Source: Daily News Egypt September 14, 2023 14:00 UTC